# Small Accounts {% hint style="success" %} If your balance is under **$300**, we highly recommend using a **cent account**. This type of account multiplies your balance (e.g., $100 = 10,000 cents), giving the EA enough room to manage trades properly and maintain safer risk control. {% endhint %} {% hint style="danger" %} > Standard accounts with very low balances can experience **higher risk**, **premature stop outs**, or **limited recovery space**. A cent account provides much better flexibility for smaller funds. > {% endhint %} * **Risk Level**: Low * This ensures a more cautious trading approach, limiting exposure and reducing the number of trades. * **Trading Style**: Conservative * With this setting, the EA will make fewer trades, focusing on the most reliable opportunities. This approach minimizes risk by reducing market exposure. * **Hard Stop**: based on risk tolerance * The **Hard Stop** represents the maximum amount of drawdown you are willing to accept before the EA stops trading for the day. A value of **50** means the EA will stop trading if losses exceed 50% (or your set limit) for that day. It’s important to choose a **Hard Stop** that aligns with your risk tolerance. You can read more about [**Hard Stop % (Only EA Trades)**](/smartchoise-manual/options/account-protection/hard-stop-only-ea-trades.md). * **Block trades during Medium-impact news**: True * This setting ensures the EA will avoid opening new positions during medium-impact news events, reducing the risk of volatility. * **Block trades during High-impact news**: True * High-impact news can lead to unexpected price movements. This setting prevents the EA from opening trades during such events, offering further protection for your account. {% hint style="success" %} **Default Settings**: The rest of the settings should be left in their default values unless you have specific requirements. The EA is designed to operate effectively with the default settings, and tweaking them prematurely can introduce unnecessary risk. **Enable News Events**: Make sure you have enabled news event filtering in the EA to automatically block trades during key news releases more info [here](/smartchoise-manual/options/news-filters-forexfactory/low-medium-high-impact-news.md). ***Reminder: Always test these settings on a demo account to understand the behavior of the EA in live market conditions before going live. You can adjust the settings as needed based on performance and comfort level.*** As you gain more experience or feel comfortable with higher exposure, you can experiment with increasing the **Risk Level**, **Hard Stop**, or **Trading Style** for more aggressive settings. {% endhint %} {% hint style="danger" %} **Hard Stop**: Always set a **Hard Stop** that aligns with your risk tolerance. This will help protect your capital in case of unexpected market movements. You can read more about it here [Hard Stop % (Only EA Trades)](/smartchoise-manual/options/account-protection/hard-stop-only-ea-trades.md) {% endhint %} {% hint style="info" %} Always start with a low-risk configuration and gradually increase your risk exposure as you become more familiar with the EA’s performance and behavior. Maintaining capital preservation should be your top priority, especially with smaller account balances. {% endhint %} *** #### **Securing Profits and Maximizing Returns:** {% hint style="danger" %} #### **Warning** * **This configuration can increase the overall risk**: While it may help to maximize profits, it may also increase the time trades are held and expose your account to more market volatility. * **Ensure you understand the implications of waiting for larger profits**: This strategy could delay the closure of your positions, which may result in larger drawdowns or fluctuations in your account balance. {% endhint %} For traders aiming for **larger profits**, you can enhance the performance of your EA by using the [**Wait for Better Profi**](/smartchoise-manual/options/profit-management/wait-for-better-profit.md)**t** option in combination with a [**Trailing Stop Loss**](/smartchoise-manual/options/trailing/trailing-stop-loss-in-points.md). This strategy ensures that your trades are given more time to reach a higher profit potential before closing, while still protecting your gains through a trailing stop. {% hint style="info" %} #### Enable [Wait for Better Profit](/smartchoise-manual/options/profit-management/wait-for-better-profit.md) * **Purpose**: This option allows the EA to **wait for more favorable profits** before closing a trade. If a trade reaches a small profit but could potentially make a larger profit, the EA will hold onto the position for a longer time. * **Benefit**: By waiting for better profit conditions, this option enables you to **maximize your returns**, especially during periods of trending markets. * **When to Use**: This option is useful when your goal is to capture bigger profits, and you are comfortable allowing the EA to hold positions for longer periods, as it may delay closing the trade. {% endhint %} {% hint style="info" %} #### Enable [**Trailing Stop Loss**](/smartchoise-manual/options/trailing/trailing-stop-loss-in-points.md) **for Securing Profits** * **Purpose**: [The **Trailing Stop Loss**](/smartchoise-manual/options/trailing/trailing-stop-loss-in-points.md) option helps secure your profits by adjusting the stop loss level as the price moves in your favor. This ensures that your profits are protected if the market reverses. * **How it Works**: When a trade moves in your favor, the **Trailing Stop Loss** follows the price to secure a portion of your profits. If the price moves against you, the stop loss is triggered, locking in your gains. * **Benefit**: This option is highly effective for **protecting profits** in volatile market conditions, ensuring that you don’t give back too much of your gains. * For this option to activate [Wait for Better Profit](/smartchoise-manual/options/profit-management/wait-for-better-profit.md) must be enabler or [Minimum profit](/smartchoise-manual/options/profit-management/min-profit-in-account-currency.md) {% endhint %} {% hint style="info" %} #### C**onfigure the “Trades to Trail” Setting to 1** * **Purpose**: The **Trades to Trail** setting determines which trades will have the trailing stop loss applied. By setting this to **1**, you ensure that **only the entry trade** has a stop loss. * **Why Set to 1**: Recovery trades typically do not need a stop loss since their purpose is to recover from the initial loss. If the trailing stop loss is applied to recovery trades, they might be **closed prematurely** due to smaller market fluctuations. By setting this value to **1**, only the entry trade will have a stop loss, allowing the recovery trades to continue running without interference. {% endhint %} {% hint style="success" %} #### **Final Configuration for Larger Profits:** 1. **Wait for Better Profit**: Enabled * This will allow the EA to wait for a more favorable profit before closing the trade. 2. **Trailing Stop Loss**: Enabled * This will ensure profits are big enough so that [**Trailing Stop Loss**](/smartchoise-manual/options/trailing/trailing-stop-loss-in-points.md) **activates** and are secured by adjusting the stop loss as the trade moves in your favor. 3. **Trades to Trail**: Set to **1** * This ensures that only the entry trade has a stop loss, while recovery trades will not be prematurely closed by the trailing stop loss. {% endhint %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://smartchoise.gitbook.io/smartchoise-manual/use-cases/sample-settings-for-beginners/small-accounts.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.