How many lots are there for the XM 10,000 yen challenge?

In this article.XMThis section explains the number of lots when taking the XM 10,000 yen challenge and how to do the XM 10,000 yen challenge.

What is XM's $10,000 Challenge?

The ¥10,000 Challenge is a challenge to see how much profit you can increase with an original capital of ¥10,000. Even if you fail, the losses are small and you can trade as many times as you like.

The ¥10,000 Challenge has the advantage that the maximum loss is ¥10,000, so even if you fail, the loss is small.

 

You can also try the ¥10,000 Challenge as an exercise in actual trading.

You should first test how much you can win with the [¥10,000 Challenge] and then increase your trading funds and trading volume.

 

Currently, a search on social networking sites for [#XM10,000 challenge] shows that many traders are actually taking up the challenge.

10,000 yen challenge for now.
Double achievement!!!

I was a bit confident, so I bought 10 lots on the main XM side and got 1 million yen, even though I'm almost to the automatic settlement.

We are looking for people who want to earn money with us.
I manage it alone, so if it becomes too difficult to manage, I will stop recruiting as soon as possible.#FX #1 million. # earned. # Sub-enterprises. # Money # Sweepstakes pic.twitter.com/1GcPm5QVIn

- pdpd (@suzukihamuu) March 9, 2021

https://twitter.com/K_style_fx/status/1195378925209210880

 

Let's be careful with XM's $10,000 challenge.

The risk with XM's ¥10,000 Challenge is that you could lose all of your trading funds if you lose even a small amount of money; the maximum loss for the ¥10,000 Challenge is not high at ¥10,000, but if you lose several or dozens of times, the loss could be significant.

When taking the ¥10,000 challenge, trade carefully and do not increase the lot size too much.

 

If you trade carefully, XM's ¥10,000 Challenge is recommended for beginners in foreign FX.

It is a good idea to familiarise yourself with foreign FX through demo trading first, and then take on the 10,000 yen challenge as the next step.

How many lots for XM's $10,000 challenge?

As for what should be done about the number of lots in XM's ¥10,000 challenge, you can change the number of lots according to your funds.

 

The current USD/JPY rate, trading funds of JPY 10,000 and full leverage of 888 times are fixed from the start, so all that remains is to decide on the trading volume and calculate the margin requirement.

You want the margin maintenance rate to be at least 300%, so you set the initial lot to 20,000 currency.

USD/JPY rate (e.g. ¥129.26) x 20,000 currency ÷ 888 times = ¥2911.2

Under these conditions, the margin maintenance ratio would exceed 400%.

As profits increase through operations, compounding takes place, in which profits are transferred to the trading fund.

Therefore, the number of lots will be changed when more trading capital is available.

How to do the $10,000 Challenge on XM

Now that you understand the ¥10,000 Challenge with XM, the next step is to learn how to do the ¥10,000 Challenge.

Take the $10,000 challenge on XM in this order.

Target amount, first 100,000 yen.

The first thing we want to achieve in the [¥10,000 Challenge on XM] is ¥100,000.

This is because even if you want to make a big profit of $10,000, you still need more money.

And 100,000 yen is a relatively realistic target.

What is the recommended leverage and number of pips required to earn $100,000?

The recommended leverage and number of pips required to win ¥100,000 in the XM ¥10,000 Challenge are as follows

The recommended appropriate leverage is 100-200 times.

At 200x, you can hold approximately 1.8 million currencies in USD/JPY.

And in this case, the number of pips required is approximately 600 pips.

If you can get 20 pips a day, you can achieve this in a month and a half.

 

100,000 in a month and a half is a lot, but to make money even faster, use compound interest.

With welfare + 200x leverage, this can be achieved in as little as eight days with a first day position volume of 1,8 million currencies.

How to do the XM ¥10,000 Challenge with no risk.

If you want to take on the $10,000 challenge with XM, the recommended method is day trading.

Day trading is a style of trading in which positions are held for a few hours to a day. Day trading works well with technical analysis, and it is also possible to make large profits by forward trading when a trend occurs.

It is also recommended for beginners as the market is easy to read.

If you want to limit losses per trade and take measures against risk, scalping is also recommended, where the interval between each trade is a few minutes to a few dozen minutes.

Set your own rules

When trading with the high leverage of the XM Challenge, it is easy to get greedy and make unexpected trades.

It is therefore advisable to set your own rules in advance.

summary

This article explained the number of lots for the XM 10,000 yen challenge and how to do the XM 10,000 yen challenge.