I have a quick question and would love any ones input. I have been demo trading for alomst 2 yrs now and am about to go live. I was wondering what people think about Meta Trader.
JOHN 3:16
what do you guys think of interbank fx?
I have been playing with meta trader and and am using interbank for a little while. When I open an account, it will be a mini. Probably starting with around$1,500. I like the way I can decide how much I want each pip worth. I have been practicing for almost 2 years and I know the only I will last is to use the least amount of money to open a trade or I will be done in 1 or 2 months. The meta trader is free to use.
Any info on interbank would be much appreciated.
thank you
To address your MM using $1500. I'm not sure what kind of trader you are, but I did a little calculating for u. I assumed you were going to trade with no larger than 3% risk on your account. You really should consider staying below $1 per pips on your trades ... on most pairs u can handle between 25 - 45 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.
Bring your price per pip down ... 0.50 cent per pip ... and 3% risk. Your looking at 50 - 90 stop losses ... worst case if you lose 20 times in a row ... u would have 50% of your account left.
Go down even lower ... 0.25 cent per pip ... and 3% risk. Your looking at 100 - 180 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.
Ok .. 1 more ...0.10 cent per pip ... and 3% risk. Your looking at 252 - 450 stop losses .... worst case if you lose 20 times in a row ... u would have 50% of your account left.
Now, you don't have to set your stops so big, but knowing your risk will relax you while trading live. You won't get rich, but u will be trading live and more importantly learning how to manage a larger account when u get to that point.
I hope this helps ... Happy Trading ...
If it is not broken, fix it until it is!
Hey renasdad,
To address your MM using $1500. I'm not sure what kind of trader you are, but I did a little calculating for u. I assumed you were going to trade with no larger than 3% risk on your account. You really should consider staying below $1 per pips on your trades ... on most pairs u can handle between 25 - 45 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.
Bring your price per pip down ... 0.50 cent per pip ... and 3% risk. Your looking at 50 - 90 stop losses ... worst case if you lose 20 times in a row ... u would have 50% of your account left.
Go down even lower ... 0.25 cent per pip ... and 3% risk. Your looking at 100 - 180 stop losses ... that's worst case if you lose 20 times in a row ... u would have 50% of your account left.
Ok .. 1 more ...0.10 cent per pip ... and 3% risk. Your looking at 252 - 450 stop losses .... worst case if you lose 20 times in a row ... u would have 50% of your account left.
Now, you don't have to set your stops so big, but knowing your risk will relax you while trading live. You won't get rich, but u will be trading live and more importantly learning how to manage a larger account when u get to that point.
I hope this helps ... Happy Trading ...
Hey Pipex,
With referance to above, which broker would allow me to trade these low amounts per pip (50, 25, and 10 cent pips). Ta
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