Thanks all for advises. I again back to practicing on plus500 demo somehow, I think this one is really popular and will not scam. I think I will open really small real account with them next week or so. Besides that another one I looked into asked crazy huge amount of initial deposit, like thousands of euros.
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A word of advice though on demo accounts. If you see a system or strategy work out for you, once you trade with a real account, start with a small amount of money you can actually afford to lose. You will most likely lose your first wad of cash you trade with, because emotions are a very powerful factor that will get the better of you until you become experienced enough to control it. Not saying this to discourage you (or encourage you for that matter), just want to emphasize that once real money is involved, keeping your cool is much harder.
i've decided to get going, enough learning about the trade..(forex), i have to start "making money" i would love to get recommandations of forex sites that are easy to use, and are able and willing to allow demo accounts, and later on, hopefully, accounts that able low starting rates. i've not yet found a site that suits me... for begginers (as myself) that are reading my post please be in touch and give me a tip or two, from a begginers point of view! thanks...i'll appreciate it! frxer
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I would urge you to go with Instaforex or Agea.the have micro lots which is what you should start with even if you have heard winning streak on demo. have a look that the link below for brokers with micro lots
i've decided to get going, enough learning about the trade..(forex), i have to start "making money" i would love to get recommandations of forex sites that are easy to use, and are able and willing to allow demo accounts, and later on, hopefully, accounts that able low starting rates. i've not yet found a site that suits me... for begginers (as myself) that are reading my post please be in touch and give me a tip or two, from a begginers point of view! thanks...i'll appreciate it! frxer
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Well, it depends where you are based. I use services of several brokers some of them offshore like Hotforex, other like FXCM and Global Prime based in US and Australia. If you start with small lots I think you don't need to care at this stage about speed of execution and spreads as you can neglect them as they won't affect your trading significantly.
at least we must first examine the broker that we will use for trading. By examining the broker then we will get the right broker. we can test the broker by trying to trade with a demo account or to participate in the contest demo
TD Ameritrade. I have an account with them, they offer the ability to trade not just forex but stocks and commodities as well giving you some options down the road if thats something you want. they also give you a live feed of CNBC that you can watch wile you trade. as for binary options i use Markets World, but they dont have very man assets available to trade.
I am new to live trading been demoing for almost a year and a half. That being said I decided to go with Forex.com. Have not had any issue with them so far but it hasn't been that long either. There are good things about them on the web.
for a newbie would be better if we could choose a broker that provides account cent. Trading in cent accounts will benefit us, because of the risk will be smaller and therefore, we need to be able to use capital well and can be used for learning trading well
Forex.com allows you to trade .01 lot sizes. Its what i started with to get the feel for trading with real money. Nothing got me more excited than earning $2 on a trade..lol
for newbie we need to constantly improve trading skills were good. With increased skills will help us to be able to get the maximum results for our trading, so it will benefit us
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Joined May 2006
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When you "go Real" there WILL be differences in your outcomes, irrespective of strategy. (Though longer TF and IntraDay strategies are less vulnerable)
So.. the question is ... Is it ME? (psycological) or is it THEM*.. and are the differences serious enough to void the EDGE your Demo developed strategy promised. *(the Broker.. or the inevitable outcomes that arise from the different processes that mark all Real Trades from a simulated trade environment.)
You CAN work on and do something about the former.. but NOT the latter. (except perhaps change broker)
So IMHE understanding and evaluating this is an essential step in "Going Real!"
And heres a simple way to discover if its YOU.. or its THEM (or inherent technical issues related to the Real Trade order process, not modeled in your Demo test environment)..
TRICK of the TRADE.. Demo to Real - Mirror Trade Test.
(How to establish if your successful DEMO tested trading system is vulnerable in translation to Real-Trading Technical Execution problems.)
When you open your REAL Acct, open a new DEMO account from same broker with same equity.***
Open BOTH on your Trading Computer/WorkStation, which should have adequate speed, memory and be dedicated.
Install RELIABLE TradeCopy software on both. And link Demo to Live in Master Slave setup. (same Broker)
(The execution latency between the two platforms in such a setup should be less than 1ms).
Now trade thru the Demo platform.. when you place a DEMO order (Stop/Limit/AtMarket) youll quickly see how technically reliable all your testing has been for Real Execution.
At the end of your first week or two, you should have enough data by comparing statements and execution details to decide to what extent technical execution on the Real account differs from the Demo environment on which youve developed your strategy. Needless to say this whole exercise should be undertaken on very low leverage and smallest viable equity risk.
*** VERY IMPORTANT to ensure that lotsizes copy with identically leverage. Competently written TradeCopy software will allow scaling when Demo and Real equity differs. So..If the Demo Account equity is DIFFERENT from your REAL account then you MUST ensure that the LIVE Trades placed are based on EXACTLY same leverage as the Demo on which you tested and proved your system. Best if to set up both accounts with SAME equity and trade initially with lowest leverage possible.
Newbies must be very careful about risk control, it's very easy to lost all money within short time for market movement, I always suggest leverage should below 1:100.
i've decided to get going, enough learning about the trade..(forex), i have to start "making money" i would love to get recommandations of forex sites that are easy to use, and are able and willing to allow demo accounts, and later on, hopefully, accounts that able low starting rates. i've not yet found a site that suits me... for begginers (as myself) that are reading my post please be in touch and give me a tip or two, from a begginers point of view! thanks...i'll appreciate it! frxer
Ignored
For education and news use Investing.com, FXstreet, Market Watch, Reuters and of course bloomberg, for trading you can use Hotforex to trade CFD's or Ameritrade to trade Futures.
Good luck!
for newbie, we need to be careful in choosing a broker because many brokers are scam, with us to be careful in choosing a broker, we will get a good broker and comfortable. so we will be more convenient for forex trading
I started out trading with CMC Markets, the main concern every new trader must consider are the deposits and withdrawals. The deposits and withdrawals were without any issues, there was a time when the loss was 30% of my equity I was able to cash in the remaining 70% into my bank account within 5 business days.
I agree with everything that has been written above and want to add, that newbie should visit some review websites, where he can find full information about different brokers.
