In search of a little truth

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I'm not new to trading, having done the emini previusly. But now I'm anxious to learn about the wonderful world of Forex. Initial due diligence and research ...WILL GIVE YOU A HEADACHE.

I know ya gotta have a broker. I've been highly recommended to Interbank fx. But I've also read many forum posts that are less than positive about them. FAR less than positive. I need to know that my demo mode is not rigged and is a reasonable reflection of a live account.

Also need assurance that when I enter a stop and need to leave my computer for 1/2 hour or so, that the stop will be reasonably honored should it be triggered.

The 2 systems that have impressed me the most have been Stealth and Trend Forex. I'm now reading here that Trend is just a fancied up version of HMA, which supposedly is free.

My take on this is that one trades no more than 5% of account balance and that 50:1 leverage is aggressive. And that if one chooses to use a "system", one park their ego and emotion and FOLLOWS the system. I also figure going in that the VERY BEST I'm going to do is be profitable on 4 out of 5 trades.

Serious, well-intended advice welcome. Please be nice.

 

IBFX is sweet. the do minor data smoothing and widen spreads at newstime but they pay promptly and your money is safe with them. youll like them if you dont trade news.

 

Backtesting and forward testing of EA's is virtually

useless for purposes other than debugging code logic. The

price action data feed of a live account is manipulated by

the broker. Brokers use computer monitored algorithms to

randomly squash the amplitude of true price volatility to

fake out EA indicators and trade logic.

Your trading activities are absolutely and continuously on

the radar of your broker, and traders that are too

profitable are unknowingly subject to more stringent price

manipulation techniques.

In most cases, news induced tower bars are nothing

more than volatility responses to trader greed and have

nothing to due with any real economic impact of the news

on the underlying currencies. The currency price usually

settles down and returns to it's mean value after the

news.

The only EA trading methodologies that have a lick and

a promise of succeeding are based on creative straddle,

hedging or countertrend order placement techniques. All

others will eventually fail.

 
jtrader60:
I'm not new to trading, having done the emini previusly. But now I'm anxious to learn about the wonderful world of Forex. Initial due diligence and research ...WILL GIVE YOU A HEADACHE. I know ya gotta have a broker. I've been highly recommended to Interbank fx. But I've also read many forum posts that are less than positive about them. FAR less than positive. I need to know that my demo mode is not rigged and is a reasonable reflection of a live account. Also need assurance that when I enter a stop and need to leave my computer for 1/2 hour or so, that the stop will be reasonably honored should it be triggered. The 2 systems that have impressed me the most have been Stealth and Trend Forex. I'm now reading here that Trend is just a fancied up version of HMA, which supposedly is free. My take on this is that one trades no more than 5% of account balance and that 50:1 leverage is aggressive. And that if one chooses to use a "system", one park their ego and emotion and FOLLOWS the system. I also figure going in that the VERY BEST I'm going to do is be profitable on 4 out of 5 trades. Serious, well-intended advice welcome. Please be nice.

Good to have you in forex, Having a good broker is very essential if you must be successful in the forex world. After much hard work in research and learning, i opened an account with Profiforex, they have good demo trading account, what is interesting about it is that you can do demo manually, which can really help you in trading real account, and this is without limit. Their trading conditions are very flexible and can adapt at anytime.

 

Do not e so panic about brokers or leverage usage. You can try all things on demo accounts effectively .After it it is up to you what like to do easily to manage your amount. You can start with low deposits in mini accounts to get real trading skill and experience.

 
goot:
Good to have you in forex, Having a good broker is very essential if you must be successful in the forex world. After much hard work in research and learning, i opened an account with Profiforex, they have good demo trading account, what is interesting about it is that you can do demo manually, which can really help you in trading real account, and this is without limit. Their trading conditions are very flexible and can adapt at anytime.

I think demo is no longer a good option for newbies. Get a micro account and deposit a very small amount. This money will enable you to learn more about your broker and see how favorable their trading conditions are for your strategy.

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