Derailed by trolls and a moderator friend of theirs. Just as well.
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Trading Forex
- Thread starter querry
- Start date
Derailed by trolls and a moderator friend of theirs. Just as well.
Quote from koolaid:
This is actually really good advice but you know OP will not take it. He wants to gamble, so let him. Anyone that wants to compound 700 into 89k is going to take on huge leverage and risk. 1:50 lol.
I trade forex, 5-10 lots, and i barely use more than 1:5, and only on rare occasions.
You trade 1:5? Why not just increase leverage on smaller amount and move the rest to an account with some investor protection? You could even park it in some dividend?
Not sure where you are. But here in the US it is my understanding that fx, futures, and option trading accounts are not covered by SIPC.
Peace
Quote from querry:
You trade 1:5? Why not just increase leverage on smaller amount and move the rest to an account with some investor protection? You could even park it in some dividend?
Not sure where you are. But here in the US it is my understanding that fx, futures, and option trading accounts are not covered by SIPC.
Peace
I have an account with IB, they are covered by SIPC, although fx is not. I don't just trade fx; I was merely making a point that 1:50 leverage is too much. I trade mainly stocks and some FX and futures. I don't stay up at night worrying that IB will collapse under while I have a position open in FX.
Quote from koolaid:
I have an account with IB, they are covered by SIPC, although fx is not. I don't just trade fx; I was merely making a point that 1:50 leverage is too much. I trade mainly stocks and some FX and futures. I don't stay up at night worrying that IB will collapse under while I have a position open in FX.
you should turn on the excess funds sweep option
Its better to practice first in demo account and spent three to four month in demo account to properly learn basics and after getting proper results go for live trading account.Quote from querry:
I'm bored trading Futures. i find that i am not trading enough. So, I've been thinking about adding a little diversity.
First of all: Which broker will allow me to open an account with about 2k or so? i have some ideas that i would like to test while at the same time get a feel for slippage and the movement of different currencies. i guess i have lots of other questions too. But after i set up demo and get a feel for the platform then the other questions will unfold as i prepare to go live.
All help appreciated..