If 2 percent stoploss is 18 pips for you, then you can reduce your order volume by half (example, instead of 1 mini, you do half a mini) and that will stretch your pips to 36 pips stop loss. Either that or increase your risk to 4%.

2 things most traders do not learn before they trade. When is the best time to enter and the best time to exit. MOst will think like you, that the market movement fluctuates 50 pips up and down. Most will think that it fluctuates around their entry and that by keeping an order open, they will eventually fight back the wave to close the deal. That is also why 95% of the people do not make money. Do a quick read-up online of entry and exit strategies before doing anything else. It will save your pips.

Do not trade UJ when you are just starting out. It is one of the most difficult pair to trade, yet people still want to put their heads into it.

Try either Oanda, IBFX or Alpari UK. Those brokers overall with good services. If you want to start with capital lees than USD500, then Oanda suitable. IBFX as my recommend you need at least USD500 and Alpari UK at least USD5000 to avoid risking your account, because you're still new, so i suggest the capital to risk ratio about the capital amount i told you which you're not easy to loss all your money but before you start live, go for demo first.

All Sifus, if I open an IBFX account with USD50 free initial deposit. Is my understanding at the following correct ?

-Using 1:200 leverage and 0.01 lot size. EUR USD pairing.

1) I am controling USD10,000 with USD50 given.

2) 1 standard lot is 100,000 units, my case amount per lot would be 100,000 / 200 = 500. Since my lot size is 0.01, then 500 x 0.01 = USD5.
Meaning every lot I open is worth USD5. I have USD45 free margin.

3) In EU pairing one pip is USD10, so my case would be USD10 x 0.01 = USD 0.1 @ 10 cents per pip.

4) If my profit target is 15 pips, it is USD1.5.

5) When I set my stop loss is 30 pip, then I am risking 6% of my capital of USD50

If the above is correct, how to comply the recommended stop loss at 2% ? If I force to follow 2% ST, then I will have only 10 pips room to tolerate.

Any advice is much appreciated. 

$50 Incentive Offer Terms & Conditions:

1. To qualify, customers must have their Interbank FX live account created and approved between Thursday, October 1, 2009 and Friday, October 30, 2009 at 5pm EDT (21:00 GMT)
2. Opening an account with this promotion indicates that the customer has read and accepts the terms and conditions of the $50.00 Incentive Offer.
3. $50.00 Incentive Offer is available to new Interbank FX customers only. $50.00 will be deposited into a new account with Interbank FX within 3 business days of an approved application. Limit one per customer.
4. The $50.00 incentive is for initial trading activity only. If the account does not have trading activity during the first 90 days, the incentive is forfeit and will be returned to Interbank FX.
5. The incentive will be available for withdrawal or transfer to another account after the customer has executed 5 round-turn standard lot trades in that account. For mini accounts to qualify they must trade the equivalent number of standard round-turn lots. (1 mini lot = 0.1 standard lots)
6. Deposits to the trading account adhere to existing rules and guidelines for deposits.
7. Interbank FX reserves the right to modify, amend or discontinue this program at any time.