Along with that there are brokers who might not offer their real time trading platform for practicing. How worthwhile would it be to invest time learning and then adjust to a new platform for live trading?
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Demo account with real account experience
- Thread starter Kagisopeter
- Start date
Hah I’m no Einstein but even I know that almost every trader puts stop loss at support and resistance and that’s why it gets hunted so much. What one should know is how to avoid it. Any thoughts on that?
Just place it below support and above resistance and the problem is solved I guess. But after all it should depend on your ability to identify S/R correctly.
What surprised me was that my broker executed the stop loss orders perfectly, still there was a lot of slippage while live trading.
O c’mon let’s not suggest you’d rather refer trading live straightaway and losing money.
How about leaving aside this discussion about whether or not to opt for a demo account, I’d suggest you to open micro accounts from a reliable forex broker like fp markets, fxview, tastyworks, etrade with just a small amount. This way you’ll be able to test the waters for yourself.
Been doing that and I didn’t have to put in a lot of funds at risk while testing the strategies in a live trading environment.How about leaving aside this discussion about whether or not to opt for a demo account, I’d suggest you to open micro accounts from a reliable forex broker like fp markets, fxview, tastyworks, etrade with just a small amount. This way you’ll be able to test the waters for yourself.
Tried sketching out the lines manually but wasn’t good at it. Is there any tool that makes this part a bit easy?Just place it below support and above resistance and the problem is solved I guess. But after all it should depend on your ability to identify S/R correctly.
I’ve been using this indicator Gravity with fxview and tastyworks lately. It highlights the support and resistance areas based on their strength that’s calculated based on the historical price action. The darker the area, stronger is the support and vice versa.
Trendlines and moving averages are good at identifying these too.Tried sketching out the lines manually but wasn’t good at it. Is there any tool that makes this part a bit easy?
Anyone can trade with micro accounts right? But my brokers don’t allow it. Is it strange and should I look for another broker?