Hi Folks
I ve been trying demos and exploring FX for more then 2 weeks. I did read a lot and tried many trades on demo. I feel ready to start live experience. I am thinking about to open with 2 brokers. I will go live with Oanda in the next coming days. I did choose them for the low spreads and the high recommendations of the members here and elsewhere. I am also trying the demo of EFX from tonight and will decide by the end of the week.
I also like MT4 platform very much and had selected some brokers that I believe are good for me. RFXT, FXDD and IBFX. However IBFX has a high spread specially on my lovely BBP/JPY, 10pips!!! (what I get from the demo, correct me if I am wrong please). I don't know why it is very recommended among all brokers using the MT4 based platform. Any advice about these brokers or a better one if there is any?
Ok now the most important, as a noob, I am confused with different opinions of traders. Sometimes I believe that I can make huge money every day week and month trading with 1-3 standards lot at the time (This is what I am experiencing on demos). Other times, I think that this business is fishy and many victims are around.
Concerning my first strategies, I do follow indicators, MA and AC on M5, M15, M30 and H1 charts for each pair. I get a good idea about the price movements all the day and for each hour. I can open and close a trade for 30 to 1 hour to get 5-20 pips or open a long one to get as much as I can. Regarding what I did read trough several discussions, some guys or brokers think that the first strategy is scalping and it is not welcomed everywhere, but since no one yet give me a standard definition of scalping I am still confused about it.
I strongly believe that if I do the same with live account, I can be very profitable, I make minimum 1000$ a day (trading not more then 3000$ virtual money of course for 5-8 hours).
Now my BIG QUESTION to you experienced traders.
1-Is this possible on live trading?
2-Is the live trading environment can be limited because of the liquidity, refused orders...?
3-If it is possible, what is the best broker for me?
4-What is the main failure factors of unexperienced and experienced traders on forex?
A lot to discuss but I have to stop it here. I welcome every reply to my thread and I hope we can discuss it further
Thank you very much.
I ve been trying demos and exploring FX for more then 2 weeks. I did read a lot and tried many trades on demo. I feel ready to start live experience. I am thinking about to open with 2 brokers. I will go live with Oanda in the next coming days. I did choose them for the low spreads and the high recommendations of the members here and elsewhere. I am also trying the demo of EFX from tonight and will decide by the end of the week.
I also like MT4 platform very much and had selected some brokers that I believe are good for me. RFXT, FXDD and IBFX. However IBFX has a high spread specially on my lovely BBP/JPY, 10pips!!! (what I get from the demo, correct me if I am wrong please). I don't know why it is very recommended among all brokers using the MT4 based platform. Any advice about these brokers or a better one if there is any?
Ok now the most important, as a noob, I am confused with different opinions of traders. Sometimes I believe that I can make huge money every day week and month trading with 1-3 standards lot at the time (This is what I am experiencing on demos). Other times, I think that this business is fishy and many victims are around.
Concerning my first strategies, I do follow indicators, MA and AC on M5, M15, M30 and H1 charts for each pair. I get a good idea about the price movements all the day and for each hour. I can open and close a trade for 30 to 1 hour to get 5-20 pips or open a long one to get as much as I can. Regarding what I did read trough several discussions, some guys or brokers think that the first strategy is scalping and it is not welcomed everywhere, but since no one yet give me a standard definition of scalping I am still confused about it.
I strongly believe that if I do the same with live account, I can be very profitable, I make minimum 1000$ a day (trading not more then 3000$ virtual money of course for 5-8 hours).
Now my BIG QUESTION to you experienced traders.
1-Is this possible on live trading?
2-Is the live trading environment can be limited because of the liquidity, refused orders...?
3-If it is possible, what is the best broker for me?
4-What is the main failure factors of unexperienced and experienced traders on forex?
A lot to discuss but I have to stop it here. I welcome every reply to my thread and I hope we can discuss it further
Thank you very much.