「KOL Analysis•Karen Foo」Can I Start Trading With $100?

I‘ve been running a trading channel on Youtube for a while now and a lot of people ask me whether it’s possible to trade with only $100.The answer is, technically YES, you can trade with $100 because a lot of brokers have no minimum deposit requirements nowadays.But if youre looking to get rich with $100, you can forget about it because only 0.01% of traders can grow it consistently without blowing it up.

However, if you want to start trading with $100, I want to give you 3 tips when it comes to trading with small accounts that is less than $1000.

Tip #1: Treat it like a practice account that is live

You can‘t earn much from a $100 account. To those people who spam you with videos like “I turned $100 into $10,000 in one week”, they probably tried it 20 times before they get lucky this one time. That is what they don’t show you.

When youre able to have such huge growths within such a short period of time, you would have to throw your risk management out the window.

Often times, most traders blow all their profits out in just 1 bad trade.

So my point here is this, treat it like a practice account. Use it to practice trading live. If you treat it like a get-rich-quick account, you will blow it up really fast.

Also, don‘t expect to use a $100 account to quit your job unless you’re the 0.01% of traders I was talking about who is experienced enough to execute it.

Everybody can trade with a $100 account, but not everyone can handle it properly.

Its just like how everybody can drive a normal car but not able to drive a Ferrari at 200km/hour and still come out of it without a scratch.

Tip #2: Dont rush it

The reason a lot of traders blow their small accounts is that they either dont see the small sum as something that is significant to them or they over-leverage their positions.

If you‘re only earning $2 and $4 profits from your small account, it’s easy to get impatient and fall into the temptation to increase your lot size beyond acceptable levels.

Many traders grew their $100 to $500 in 3 months and only took 1 bad trade to wipe out their past 3 months of hard work. They just couldnt resist the temptation to increase their risk exposure to speed up their account growth.

In fact, the smaller the account, the larger is the temptation to rush the whole entire process. If youre not careful, you will learn the lesson the hard way.

Even if your $100 account grows by 1% a day, the ending balance and profits arent as exciting as what the trading commercials portray to you.

Theres just too much marketing hype nowadays about starting with a small account and getting rich from it.

#3: Trade currencies with low spread

If you‘re trading with small accounts, you don’t want the spread to eat up your profits, especially when youre only earning $5 a trade.

The good thing about trading currencies with low spread is the high liquidity associated with that currency pair. Higher liquidity also means higher predictability, which makes it suitable for beginners starting out.

A lot of beginner traders don‘t bother to check the spread before they open their trades. It’s good to take a glance to check how much are you paying the broker so that you can keep more of the profits youve earned.

Typically, currency pairs like EUR/USD, USD/JPY & GBP/USD offer low spreads most of the time unless youre trading around a high impact event, which would temporarily increase the spread.

[About The Author]

Karen Foo is actively involved in speaking at various conferences, seminars, expos, workshops, toastmaster clubs and publicly-held events in Singapore and Malaysia

Having overcome numerous setbacks in her life, she has gone on to inspire thousands of youths working executives and leaders of various companies to REALIZE THEIR ABSOLUTE WILDEST DREAMS through her INTERACTIVE, INSPIRING AND ENGAGING TALKS. Being labeled as the “quietest student and underachiever” through out her life, she went on to win numerous awards in public speaking contest, scholarships and hosting large-scale events as an MC. She was then featured in various print media for her academic achievements. She has also been invited to speak at international conferences to leaders from Brunei, China, HongKong, Laos, Malaysia, Vietnam, Indonesia, Myanmar and Singapore.

Karen Foo has been ranked #1 in a Singapore nationwide Forex trading competition, competing with over 200 traders from NUS, NTU, SIM and SMU. She was also ranked top 10 in a contest organized by FX Street, competing with over 300 traders over 20 countries. She has shared the stage with top investment gurus and CEOs at an international expo held at Marina Bay Sands. She is also the contest judge for numerous public speaking contests held around Singapore, ranging from club level to the National level contests. Her wide range of experience has led her to co-author a book “Turning Ideas into Profit” with 10 other Asia‘s experts and professional speakers. Karen is also a contributing author of an investment book titled “Your Cash Moves”, foreword by Adam Khoo, Asia’s Top Success Coach

WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:

Facebook:

Singapore Area：https://www.facebook.com/wikifxsingapore/

USA Area：https://www.facebook.com/WikiFX.US

Nigeria Area：https://www.facebook.com/WikiFX.ng

LinkedIn:

Nigeria Area：https://www.linkedin.com/company/31506916

Twitter：

Nigeria Area：https://twitter.com/WikiFX_NG

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

Google Play:https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

App Store: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Wiki Forum Forum Function:

In order to help more investors, WikiFX has launched the “WikiFX Forum” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

The exposure function of “WikiFX Forum” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html

Worried about missing out latest trends in the volatile market？ WikiFX ‘News Flash’ is here to help!

With 24-hour real-time update of forex market data by minute, you can seize the opportunity of every bullish market! Bookmark the link below and follow the market trends immediately!

Singapore Area：https://live.wikifx.com/sg_en/7x24.html

USA Area：https://live.wikifx.com/us_en/7x24.html