We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • The US Dollar remains in consolidation mode against the Philippine Peso and Indian Rupee. Will the Singapore Dollar weaken as $USDSGD rising support holds ahead? Find out from @ddubrovskyFX here: https://t.co/HZ8Loqj3Ey https://t.co/6PCFkdj3ka
  • Follow @DailyFXedu for your regular #webinar updates with @DailyFX analysts and catch up on the webinars you missed. https://t.co/Da10QUg9r1
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
  • $DXY & $SPX500 hold steady after #FED rate cut. Get your update from @JohnKicklighter here: https://t.co/vqXlKCMDYA
  • Dow Jones & Dax 30 levels to watch ahead of the fed from @PeterHanksFX here: https://t.co/iUIrsygKz2
  • The politics of the US and UK may be starkly divided but their grip on the vast, $6.6 trillion global foreign exchange trade seems as tight as ever. Get your market update from @DavidCottleFX here:https://t.co/xTKHOvrIqg https://t.co/vtHhdnF82Q
  • How can confidence in trading help with avoiding #FOMOintrading? Find out from @WVenketas here: https://t.co/MY7j9ISn4S https://t.co/n7XwfiDZz2
Guest Commentary: Account Size Does Matter

Guest Commentary: Account Size Does Matter

2011-12-10 07:00:00
Yoham Elay, Forex Crunch,

How much should you deposit? Certainly not more than you can afford to lose.

Yet a bigger sum has quite a few advantages that can make a difference between a winning account and a losing one.

Upgraded status

A bigger account size means an upgraded status with the broker. Spreads can be tighter, meaning you earn a bit more and lose a bit less in every trade. This is an obvious advantage but definitely not the most important one.

In some cases, a bigger account means a better customer service with the broker and perhaps other perks. Brokers may offer you enhanced mobile services for example.

More time to learn

With more money in the account, it is easier to implement money management principles. Risking no more than 2% of your account in one trade can be done with more ease: you don’t have to make a big compromise on the size of the trade. In addition, you still enjoy better spreads on the trades, even the smaller ones.

So, you get to make many trades, not risk too much of your account all at once and still enjoy better spreads. But that is still not the most important point.

Taking it seriously

When you deposit a significant sum into a forex account, you are going to take things more seriously. That’s how it works with many things in life. You may have a talent in some field, but there’s so much your talent can take you. Working hard, committing to something and being serious makes a difference even for the most talented people in any field.

As aforementioned, don’t risk what you can’t afford to lose. Yet if deposit a small sum, you’ll treat forex trading without care, as a form of entertainment or as buying a lottery card.

Are you here only for entertainment? Or do you want to make money as well?

By assuming that you’ll lose everything anyway, you are making a prophecy that is self-fulfilling. Instead of testing trades on demo accounts, you’ll rush to throw your money into a real account. The result is throwing your money away. Instead of carefully planning a trade and carefully executing your plan, you’ll just go with any gut feeling you have at the moment. If you enjoy this, so be it.

But if you want to take things seriously and increase your chance of profiting, serious trading begins not from the first trade, but from the initial deposit.

You don’t have to have aspirations of becoming a forex professional. The road is long and consists of a few important steps. But starting from a significant deposit that will make you treat the account very seriously will sure make your trading experience a more thorough one, and eventually a more successful one.

This is the sixth chapter of 9-chapter series about trading forex responsibly. This guide touches the key points of trading forex more responsibly and provides many practical tips that only help avoiding the pitfalls but also provide tools for balanced, successful and sustainable trading.

The whole series is available as an eBook which you can download by joining the newsletter at the bottom of each article on the site.

Further reading: 5 Most Predictable Currency Pairs - Q4 2011

By Yohay Elam, Forex Crunch

provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.