Just throught I'd post a friendly warning to all the people considering trading forex.
STAY AWAY. GRAB YOUR WALLET AND RUN. IGNORE ALL THESE HYPE ARTISTS/ FX SALESMAN ON HERE THAT WORK FOR FX BUCKETSHOPS AND LISTEN TO ME.
After doing really well with the demo account I opened a live account and lost it all.
I'd suggest anyone who is considering getting into forex and just can't wait to open a live account to start by opening a live account with the smallest amount possible...$25 and trade with very small sizes of 1 to 5 lots.
You can be right on numerous trades and on numerous trends and it won't matter if you are stopped out with all the spikes against you because you are overmargined. Or if you overtrade with all the very wide spreads on entry and exit.
If you don't believe me, open a live account and try to go long and see how far out your open position is placed. Then watch the opposite bar post to create the instant loss and gap to stop people out. If you have nerves of steal to sit through that completely random BS then you deserve the few cents of profit you'll get.
If you look at the 1 minute charts you'll see that the large long bars actually end up statistically working against you. They create long wide ranges that will stop you out short or long from any logical entry point. If you try to get in on a breakout, it's almost guaranteed that there will be a counter bar to lockout people in a range who are either overmargined or that have stops. This doesn't mean you cannot make money, it simply means you have to leave lots of room for all the manipulation that you will face in jacked spreads and wide spiking bars.
Be sure to research the process of getting your money out before putting money in. Fees are often involved in getting your money out. Yes they charge you to send you your money.
You can read some reviews here:
http://www.forexrealm.com/brokers-reviews
STAY AWAY. GRAB YOUR WALLET AND RUN. IGNORE ALL THESE HYPE ARTISTS/ FX SALESMAN ON HERE THAT WORK FOR FX BUCKETSHOPS AND LISTEN TO ME.
After doing really well with the demo account I opened a live account and lost it all.
I'd suggest anyone who is considering getting into forex and just can't wait to open a live account to start by opening a live account with the smallest amount possible...$25 and trade with very small sizes of 1 to 5 lots.
You can be right on numerous trades and on numerous trends and it won't matter if you are stopped out with all the spikes against you because you are overmargined. Or if you overtrade with all the very wide spreads on entry and exit.
If you don't believe me, open a live account and try to go long and see how far out your open position is placed. Then watch the opposite bar post to create the instant loss and gap to stop people out. If you have nerves of steal to sit through that completely random BS then you deserve the few cents of profit you'll get.
If you look at the 1 minute charts you'll see that the large long bars actually end up statistically working against you. They create long wide ranges that will stop you out short or long from any logical entry point. If you try to get in on a breakout, it's almost guaranteed that there will be a counter bar to lockout people in a range who are either overmargined or that have stops. This doesn't mean you cannot make money, it simply means you have to leave lots of room for all the manipulation that you will face in jacked spreads and wide spiking bars.
Be sure to research the process of getting your money out before putting money in. Fees are often involved in getting your money out. Yes they charge you to send you your money.
You can read some reviews here:
http://www.forexrealm.com/brokers-reviews
