myregister

If we think about this issue again, demo account surely designed to do something like that so use it for your own good this is take for granted feature which benefited most of people in fx industry. But remember demo account might be different than your real account, so there might be difference when you start trade in real ccount after trade in demo account extensively.

I agree with you jamante, people tend to see the similiarity of forex and gambling but never look at its differences which separate gambling from foreign exchange. If that is all about praying and hoping and that's all i do then fx is gambling but if you actively analyze the trend based on fact/indicators, avoid negative emotions and manage the risk in strict way then that is fx trading.

@radex78 Well mt5 in fact is similiar to mt4, you won't have much problem to use it especially if that is just about use indicators and open or close the position. Metatrader 4 and metatrader 5 differences as far as i see is the language to create algorithm trading and you can trade stock or some indices with MT5.

By using common sense i think that is right, scalping traders tend to use fixed because of the nature of that account and traders don't have to think so much about the cost which they should bear, i am sure we all here know that scalpers is cost sensitive. But it doesn't mean scalpers won't use floating account, since most of floating spread account is non dealing desk, scalpers who choose this one must be think about the genuinity of the market they enter.

@muzammel Raza. Well i'm not Juzfinal but will try to tell this,alertpay or what it called as ap is Payza. Before turn to Payza , the name was alertpay. It is just another payment processor which you can use to trade in foreign exchange or to invest in paid to click site.

Yes in forex perfect money has good demand, in HYIP it is the leader from the other electronic currency, as for the security it is good enough but not so good as long as you can keep your PIN code safe basically you're safe. HYIP is the best for Perfect Money.

So step by step? You mean like trade step by step and doesn't think so much about the profit yet but instead we should focusing on learning, or to spot the wrong event which may happened to us after we trade later, right? If that is the case then i agree with you. To me focusing to learn first is good because in long term it would change the way we think.

Hm, many people want to join for sure because there are a lot of way for people marketed forex as a profitable business, just look at how so many people said about forex. The other reason people into forex because the fact you can trade anytime you want. Me too, one of the reason i switch to foreign exchange because of flexible working hours, risky but flexible enough.

Don't mind? How about exotic pairs? Trade with MXN/IDR and see if you really love it. For me i will skip exotic pairs because of its low liquidity making it hard to move plus high spreads which surely will kill me. I prefer Major Pairs and GBPJPY(Cross pair) because of its volatility plus its high liquidity compared to the other currency pairs.

That is just your thought about gambling even i must admit its similiarity between those two. Overall, gambling and foreign exchange has different nature since gambling depend on pure luck like blackjack for example while in foreign exchange put your risk management would avoid further losses which actually isn't needed.

Many people praised ironfx before, said that is the most trustable and way profitable trading company. My bet still in a broker which regulated by well-known and strict regulator such as CFTC or FCA or FINMA. If i must said the brand you can look at FXCM(CFTC), FXDD(FCA), Dukascopy(FINMA). With those if you have problem just complain it to regulators.

ECN is way hundred times better than market maker, market maker or what officially known as non dealing desk broker is bad practice especially newbie who know less but for expert could be deserved as additional income. Dealing Desk which offer low spread without doubt is the lowest one, could even defeat ECN. It is not matter of safety but how low the spread isn't it?

No matter how much we look into, take profit is really worthy first because of its automation. It is more accurate than so called human's cut profit and sometimes if the price is better you can get positive slippage. Second and the last because it is dependable, and don't involved your emotions, especially if the price is near the TP's area.

@Latham Lapard so you like instant deposit and withdrawal? Well if that is the case then the answer is pretty simple, you need to choose between electornic currency such as Neteller, Skrill or Perfect Money or e-coin such as Bitcoin or Litecoin. Those two kind of online processing which will provide faster payment for you it is either withdrawal or deposit.

@Latham Lapard You got the point there and this is something not just starter but someone who spend quite long time with forex should think too. Strategy that works(give us reasonable profit) and the one which give us a better risk management, after those all fulfilled i am sure 90% the trading of each trader who have both will be profitable and turn it into main job won't be a big deal.

@radex78 True, i agree with it, experience actually the best teacher ever since that teaches us in very best way about how to learn very well. Knowledge in the other part is good for the very first time people who want to learn about forex, but experiencing loss is something that happening to anyone at least once in their life.

Copy trades which you brought here is indeed some kind of innovate idea about modern day trading but makes some newbies lazy and just want to copy someone's strategy without know what the heck are going on about the strategy. I don't against this idea if they want to learn after that and don't depend on this new technology so much.

The advantage of a stop loss is you don't have to monitor on a daily basis of how the currency price is performing. Just set it and forget about it. So it is not like you must have to stay awake for 24 hours just for the sake of cutting loss by you personally. With these you can trade with ease and don't have to burden yourself so much.

This is why i am trying to avoid this kind of issue, mixing emotions into your trading resulted on unreasonable decision. I prefer to think clearly when trade and only focus to trade with the facts like news result, emotions don't have much place in my head when it comes to trade. I was victim of mixing emotions and trading in past which make me think twice before trade with use emotions than fact.

Normal as long as the scope of that loss isn't big like when you lose you still have chance to turn the table and make better trading later. The other thing i see as the main reason newbie do a lot of mistakes because they overestimate or underestimate foreign exchange.

Logically, demo is not the only place for human being learn about forex, they can use real account but with the side effect where they could lose their real money where that effect won't show up in demo account. So far if someone want the most effective way to learn i agree with you, demo account is the only place.

If they want to learn about it then that is a good idea, it is not like they don't need it but it would be a good idea to introduce them to this kind of trading. Robot trading actually take the idea from human. It applies human's knowledge or technique into a single file, so i think that's okaay for them to learn and it doesn't mean they don't need it.

Hm, is that has some kind of correlation with consistency? I mean to achieve consistency you don't have to set Stop Loss or Take Profit or something like that, what you need is focus and with its relation?. Trading need focus and with you focus more to your trading you can be consistent to achieve profits.

Yes, i have control over my trading. I trade where the condition allow me to open and even closed the position depend on what i see fit, even when closing position it will be done automatically through Trailing Stop or Stop Loss but the amount i decided to is up to me, so i think this is 100% control over my trading.

Demo contest is good place, but don't worry about that. That is just contest and morever, it held by use someone's demo account. Nothing harm would come from that kind of contest. I see that by use demo contest would boost someone's motivation to earn since they are on same footing with the other traders.