How to Trade Forex with $1 (One US Dollar) Account

Forex Trading Strategy for $1

Today, Forex brokers are allowing the forex traders to deposit and open a real trading account for only One US Dollar. Sounds real crazy but it is really possible to trade forex with $1 (One US dollar) account, not only technically but it is also psychologically possible. The only requirement to trade $1 is Patience. Since the amount was very low, we cannot expect for high profit. 

Forex Trading Strategy Plan for $1 US Dollar Account

1. Open a real cents account - This will turn your $1 to $100 dollar equivalent value
2. Trade 0.1 lot size one at a time - Do not open another position as long as the previous was not yet close. Opening 1 position at a time will allow for 1000pips movement. 
3. Target realistic goal - Take profit can be set at 10pips a day, but if you enter a trade on an extremely over sold or over bought area, you can target for 50 to 100 pips a day.
4. Plan the use of stoploss - If you open a position and it turns to negative profit, wait for the market to comeback again to its position or use stoploss if you cannot wait for several days before it hit the take profit.
5. If possible, open $1 on a swap account - swap account give overnight interest, this will add to your profit if your position cross 12 midnight.

If you're looking for a good broker that will allow you to trade this kind of strategy, you can open a new cents account in Instaforex.

Whatever kind of trader you are or whatever strategy you are using, you can open a $1 account and start trading using the above setup, its only a matter of patience and discipline.

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