RE: Steemit Crypto Academy Season 5 Week 7 [Beginner's Course] - Risk Management and Trade Criteria.
Greetings professor @reminiscence01, thanks for the lesson sir.
“Explain how much you are risking on the $100 account using the 1% rule.”
Can one really use the 1% rule on a $100 account and place live trades??
I think that will be too small to place a trade with. Even to fund a futures wallet that won’t go well or maybe I’ve not understood what you are trying to express.
Secondly sir, these demo accounts come with an automatic account worth from what I know so far. Do we just apply the 1% rule on the trading amount the demo account has? That’s after doing the calculation on the normal $100 worth trading account and then we can now do the calculations for our demo account worth in order to be on track despite we don’t have exactly $100 demo account worth.
I’m hoping to hear from you sir, so that I can clear my doubts
You can apply the 1% rule on a $100 account. The size of the trade doesn't matter. You can look for a broker/exchange platform that will allow you chose an account size.
However, you can use any demo account size and apply the 1% rule if getting a $100 account will be a problem.
Thanks very much professor