Source: ForexYard
The ForexYard Super-Mini Account was designed for those who are new to the Forex market. Trades through the Super-Mini Account are in smaller contract sizes of 1,000 units, 1/10th the size of the Standard Account. The smaller trade size gives our clients the opportunity to trade live with less overall risk, or exposure, to the market. In addition, the Super-Mini Account allows traders to become familiar with ForexYard, more specifically the quality and reliability of ForexYard dealing practices and the stability of the Forex Trading Platform.
Instant Deposit with Credit Card
ForexYard allows customers to fund their account with their credit card, so they can start trading immediately. ForexYard cares about protecting your credit card security as well as protecting your privacy to the highest standards. To achieve this, we use the latest technologies and comply with all relevant regulations. Please read our terms & conditions.
Start Trading in Minutes
With ForexYard you can start trading in minutes. Choosing our JAVA-based trading platform means that there is no software to download and you have the option to use your credit card in order to fund your account (depositing the margin required for the trading). Please note that due to security measures, the scope of deals on the first week of new users trading with ForexYard is limited. Such restrictions will be removed after making a phone contact with our team.
Establish Margin Trading Account with as Little as $100
ForexYard enables you to trade with amounts as small as $100! Starting to trade with such small amounts is the best way to get acquainted with the Forex marketplace. After familiarizing yourself with the ForexYard system and establishing a trading strategy you may increase the level and scope of your activity as you see fit.
No Software Download Needed
When you choose the ForexYard JAVA-based trading platform you have no software to download as it enables users to start trading immediately upon receiving a username and password. And with no software download required, you may log into your account and trade anytime, anywhere!
Develop a Disciplined Trading Strategy
Ask any successful trader and they will tell you that the key to trading success is discipline. Everyone has heard the expression “cut your losses and let your profits run” yet how many traders actually practice this?
Many traders will hold on to losses hoping they will reverse eventually, only to see the loss get progressively larger. These “irrational” trading decisions are based on emotional reactions to fluctuating profits and losses, a common pitfall for new traders.
Losses CAN and WILL occur, a trader’s ability to limit his losses is just as important (or even more important) than determining entry points.
Because the pip value on the Super-Mini Account is just 10 cents ($0.10) per pip, traders can focus on developing a disciplined trading strategy, basing their decisions on pip movement and market conditions instead of on profits and losses.
Consider the Following Example:
When trading on a ForexYard Super-Mini Account, a 30 pip floating loss over a $1,000 position is approximately $3. That same 30 pip move against you on the $100,000 position, becomes a $300 floating loss. By starting with a Super-Mini Account a trader loses only a small amount on every losing transaction making it easier to stick to a disciplined trading strategy. Generating larger losses on the Standard Account can be detrimental to new traders as the temptation to hold on to the loss is much greater based on the size of the loss.
Start Small. Build Up Confidence
There is NO MAXIMUM trade volume on the ForexYard Super-Mini Account. Although the standard trade size is 1,000 units, you are not limited to trading one lot! For instance, you can trade 10,000 units, 50,000 units or 150,000 units. This means as you become more seasoned and build up confidence you can slowly increase the size of your positions to maximize profits. In fact, the trade size of 10,000 units allows for more flexibility in terms of customizing the size of your trade enabling better risk management.
The Super-Mini Account is ideal for accounts under $1,000
ForexYard recommends that all traders with account balances less than $1,000 trade using a Super-Mini Account. This gives you more staying power in the market, and the ability to take advantage of multiple opportunities without over-leveraging your account. If you over-leverage your account you will not give yourself room for error. Even if you are correct on the direction of the market, minor fluctuations can generate a margin call and liquidate a good position.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.