been very bz wif my low-pay work...
can't monitor properly...
EU having a rebound??
sonic
- #21,463
- Aug 19, 2008 3:19am Aug 19, 2008 3:19am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
- #21,464
- Aug 19, 2008 3:25am Aug 19, 2008 3:25am
Yeah having enough capital to trade is a very good point. Having said that I don't see an issue with trading a small $1000 as an educational experience. I myself am demo trading for a few months and then will open a $1000 account and see how I go. If I go well then I'll add another $4000 to it from my savings and see how I go trading with 5k etc etc.
As for funding, Bruce has a point the more money you put in the less leverage you will be inclined to use to produce what appears to be reasonable profits. A common problem is undercapitalisation. Something which is very difficult to realise until you have blown a load of mini accounts.
Set the leverage to 10x, only use more if your effective exposure remains below that. Anything above 10x you're essentially gambling ... something which I frequently do
Good Trading.
- #21,465
- Aug 19, 2008 3:27am Aug 19, 2008 3:27am
With Respect - You Have Been Warned !
Twee is responsible for this forum and not you. You are breaking Forex Factory Rule Number One. Please Move On ! This thread is about EUR/USD not any one poster.
Thank You !
Bruce
Bet you it would a good revenue stream
Good Trading.
- #21,466
- Aug 19, 2008 3:31am Aug 19, 2008 3:31am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
I wouldn't waste my time demo trading, you miss out on the psychological aspect that you have with real money. Open an OANDA account and micro trade it.
As for funding, Bruce has a point the more money you put in the less leverage you will be inclined to use to produce what appears to be reasonable profits. A common problem is undercapitalisation. Something which is very difficult to realise until you have blown a load of mini accounts.
Set the leverage to 10x, only use more if your effective exposure remains below that. Anything above 10x you're essentially gambling ... something which I frequently do
Good Trading.
So my plan is to build a system that works profitably in the demo account and then open a small account as you suggest.
Opening a live account without a tested system seems a little pointless to me because you aren't just dealing with the psychological aspects of trading you are then in the process of still trying to build a system and that could get expensive.
But yeah live trading with a small account will come as soon as I can be profitable demo trading for a month or two
- #21,469
- Aug 19, 2008 3:45am Aug 19, 2008 3:45am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
Set the leverage to 10x, only use more if your effective exposure remains below that. Anything above 10x you're essentially gambling ... something which I frequently do
Good Trading.
Altrader, my advice is, unless most of your trading is based on small scalping trades, forget about it. Go for the 1/2 - 3 leverage range and if you get consistant profit on a real account for a while then try a bit higher. Also, you should understand that things can work quite differently on a real account compared to a demo, as hard as it may be to imagine at first. Aspecialy if you try using short term indicator based systems.. and of course, you learn a phousand times faster with real money, even if it's just a little bit. Good luck
On the path to Enrichment.
- #21,473
- Aug 19, 2008 3:53am Aug 19, 2008 3:53am
Set the leverage to 10 ? That's even worse advice than not to put warrenfx on your ignore list.
Altrader, my advice is, unless most of your trading is based on small scalping trades, forget about it. Go for the 1/2 - 3 leverage range and if you get consistant profit on a real account for a while then try a bit higher. Also, you should understand that things can work quite differently on a real account compared to a demo, as hard as it may be to imagine at first. Aspecialy if you try using short term indicator based systems.. and of course, you learn a phousand times faster with real money, even if it's just a little bit. Good luck
lol just kidding.
The best advice is to ignore all advice on a public forum, and simply learn how to trade real money.
As for my leverage comment, that's clearly 'max leverage'.
and trading 1/2 x are you kidding me, you'd be better off trading stocks.
- #21,474
- Aug 19, 2008 3:56am Aug 19, 2008 3:56am
- Joined Jul 2008 | Status: Invincible | 3,619 Posts
Set the leverage to 10 ? That's even worse advice than not to put warrenfx on your ignore list.
Altrader, my advice is, unless most of your trading is based on small scalping trades, forget about it. Go for the 1/2 - 3 leverage range and if you get consistant profit on a real account for a while then try a bit higher. Also, you should understand that things can work quite differently on a real account compared to a demo, as hard as it may be to imagine at first. Aspecialy if you try using short term indicator based systems.. and of course, you learn a phousand times faster with real money, even if it's just a little bit. Good luck
- #21,477
- Aug 19, 2008 3:59am Aug 19, 2008 3:59am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
hey, this countertrend trade is getting some speed...
What can I say, good call or good luck but profit is profit 
On the path to Enrichment.
- #21,478
- Aug 19, 2008 4:02am Aug 19, 2008 4:02am
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Up or down, gimme a ticket