Originally Posted by
;
I am sorry I didnt see every post here, but if you are trading at as high as one dollar a pip with a 60 dollar account, then simply plain randomness will knock you out. Another scenario is death by many hit small stoplosses.
It is wise to start an account at which you can trade as much as 10 cents a pip. (That's if they take your 60 to start up an account)
The reason I say this, is it could be a great challenge to grow your account and you could place an adequate stoploss. . 200 or of 100 points at 10 cents. Now of course if you're totally wrong about direction there could be a issue, but maybe not an account closing issue. Thus in order to prevent that, look carefully at the fundamental strength and price history of this pair you pick.
When the fundamentals are strong and you trade in their favor with a wide stop loss to look after random noise, then the fundamental strength will pull your commerce in the direction you want to go.
Just my ten cents a pip worth.
Lou