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What's The Difference Of Trading Mini Lots Vs. Full-sized Lots
By Adrian Pablo, Wed Dec 7th
In Forex trading there is something called, a Mini Account, andit uses a different leverage calculation than a regular (100k)account. This is, instead of trading full-size lots(100,000 units), you'll trade in lots that are just 1/10 thesize (10,000 units), which in turn greatly reduces yourrisk. Pips in a Mini Account are worth, on average, $1 insteadof the $8 to $10 value they have in a regular account. The MiniForex account offers up to 200:1 leverage, this means that justa $50 margin deposit will allow you to trade lots worth roughly$10,000 , but the smaller lot sizes, with correspondinglysmaller pip values, means that you'll be assuming less totalrisk. For example, while a 20-pip loss on a 100,000 USD/JPYposition would be $200, the same loss on a 10,000 USD/JPYposition in a Mini account would amount to $20. Here you have an overview of leverage (Margin, Account Size) oneach of the two accounts discussed above: 100K (Regular Full-sized Account) - Minimum required accountdeposit = $2,000 - Recommended required account deposit = $5,000to $10,000 - Traded in 100,000-unit lots - DefaultMargin: set at 1% ($1,000 per lot) - Leverage = 100:1 or 50:1(if margin is set at 2%)
Mini Account - Minimum required account deposit = $300 -Recommended required account deposit = $2,000 - Traded in10,000-unit lots - Default
Canadian Dollar Climbs To 8-week High Against Greenback
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1414041" style="font-size:1.2em">Canadian Dollar Climbs To 8-week High Against Greenback</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">8 hours ago </span>
<div style="width:80%;">Crude oil for October delivery is currently trading at $75.72 per barrel on the New York Mercantile Exchange, up $1.05 from its previous close. Prices reached as high as $75.88 a barrel in the ...</div>
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Forex: USD/CAD decline extends to 1.0300, 3-week low
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=c15ed965-303d-4bca-b228-8072580097cb" style="font-size:1.2em">Forex: USD/CAD decline extends to 1.0300, 3-week low</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">8 hours ago </span>
<div style="width:80%;">FXstreet.com (Barcelona) - The Canadian Dollar advances at a strong pace on signs of economic recovery and USD/CAD decline from yesterday's high at 1.0509 has extended below 1.0340/45 support area ...</div>
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Canadian Dollar and Financial Outlook
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<a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=4483947" style="font-size:1.2em">Canadian Dollar and Financial Outlook</a>
<br> <span style="color:#888888;">istockAnalyst.com</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">Winnipeg, Sep. 9, 2010 (Resource News International) -- The Canadian dollar was trading stronger early Thursday - reaching three week highs - one day after the Bank of Canada pushed interest rates ...</div>
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Canadian Dollar May Appreciate Against USD
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<a href="http://www.dailyfx.com/forex/technical/ssi/usd-cad/2010/09/09/ssi_usd-cad.html" style="font-size:1.2em">Canadian Dollar May Appreciate Against USD</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">USDCAD ? The ratio of long to short positions in the USDCAD stands at 1.78 as nearly 64% of traders are long. Yesterday, the ratio was at 1.86 as 65% of open positions were long. In detail, long ...</div>
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CAD/CHF Forming Possible Head and Shoulders
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<a href="http://www.dailyforex.com/forex-technical-analysis/2010/09/CAD-CHF-Forming-Possible-Head-and-Shoulders/5904" style="font-size:1.2em">CAD/CHF Forming Possible Head and Shoulders</a>
<br> <span style="color:#888888;">DailyForex</span> - <span style="white-space:nowrap">15 hours ago </span>
<div style="width:80%;">On Wednesday, the Bank of Canada boosted its interest rates to 1 percent from 0.75 percent, making it a third increase in a span of four month. In response, the Canadian Dollar rallied strongly ...</div>
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Canadian Dollar Gains On BOC's Hawkish Comment
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<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=121953:canadian-dollar-gains-on-bocs-hawkish-comment-&catid=193:daily-forex-fundamentals" style="font-size:1.2em">Canadian Dollar Gains On BOC's Hawkish Comment</a>
<br> <span style="color:#888888;">Action Forex</span> - <span style="white-space:nowrap">20 hours ago </span>
<div style="width:80%;">The dollar traded mostly lower on Wednesday as European bank worries eased following a successful Portuguese debt auction. The Federal Reserve's Beige book indicated the pace of US economic growth ...</div>
<a href="http://www.ibtimes.com/articles/60844/20100909/fx-strategy-briefing-canadian-dollar-gains-on-bochawkish-comment.htm">FX Strategy Briefing: Canadian Dollar Gains on BOC&#039;s Hawkish Comment</a> - <span style="color:#888888">International Business Times</span><br>
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PNC Bank Changes Canadian Dollar Prime Rate
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<a href="http://www.newswire.ca/en/releases/archive/September2010/08/c8189.html" style="font-size:1.2em">PNC Bank Changes Canadian Dollar Prime Rate</a>
<br> <span style="color:#888888;">Canada NewsWire</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">TORONTO, Sept. 8 /CNW/ -- PNC Bank Canada Branch announced an increase in its Canadian Dollar prime lending rate. The new rate of 3.00 percent is effective Sept. 9, 2010. PNC Bank Canada Branch is ...</div>
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| EXCHANGE RATE
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<a href="http://www.dailynews.lk/2010/09/09/ExchangeRate.asp" style="font-size:1.2em">| EXCHANGE RATE</a>
<br> <span style="color:#888888;">Ceylon Daily News</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">Exchange Rates on 08.09.2010 The average rates of the following currencies quoted by commercial banks in Colombo for Telegraphic Transfers (TT) at 9.30 am are as follows: Currency Buying Rate ...</div>
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Canadian Dollar Testing Fibonacci Level
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<a href="http://www.dailyfx.com/forex/technical/elliott_wave/usd-cad/2010/09/09/eliottWaves_usd-cad_1.html" style="font-size:1.2em">Canadian Dollar Testing Fibonacci Level</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">The USDCAD continues to respect its summer range. The June, July, and August highs all occurred within several pips of 10680. A close look at the USDCAD rally from 10105 reveals that the advance ...</div>
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Canadian Dollar Steady Ahead Of August Ivey PMI Report
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1412636" style="font-size:1.2em">Canadian Dollar Steady Ahead Of August Ivey PMI Report</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">(RTTNews) - The Purchasing Management Association of Canada and the Richard Ivey School of Business will release the Purchasing Managers Index for August at 10:00 am ET. The headline figure is ...</div>
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Margin: set at 0.5% ($50 permini-lot) - Leverage = 200:1 There is no downside to trading a mini account , you will bestill enjoying all the benefits that full-size FX accountholders enjoy; including, same state-of-the art tradingsoftware, charts, resources, and tools, etc. This mini accountsare ideal for a new Forex trader to develop a disciplined,rational forex trading strategy without excessively focusing onprofits and losses. Also there is no maximum trade volume when you use a miniaccount. Although the standard trade size is 10,000 units, youare not limited to trading one lot. For instance, you can trade10,000 units, 50,000 units or 200,000 units. This means as youbecome more seasoned and build up confidence you can slowlyincrease the size of your positions to maximize profits. In factthe trade size of 10,000 units allows for more flexibility interms of customizing the size of your trade. The ability tocustomize the size of the trade allows you to have a better riskmanagement. With less capital at risk in a Mini FX account, itis easier for you to develop a disciplined trading methodology,as well as the confidence needed to be a successful currencytrader, without the anxiety and distractions that come withlarge Profit and Lose swings. About the author:Adrian Pablo; Forex traderand freelance writer. You can download a free Fibonacci trading report at his website: http://www.1-forex.com
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