If you listened to last week’s episode – episode 102 – I bemoaned the fact that my trading results in February were less than to be desired. At the beginning of the month, I opened up my live trading account. To be open, it’s a small account ($500). But it’s enough to give me a taste for losing and gaining real dollars. It’s something my trading coach recommends, so that’s why I did it.

In addition, the point is to gain consistent pips. If I can’t make gains in a small account, then what business do I have trading mini lots or full lots? That’s the reason I’m only trading micro lots at this point.