Canadian scalped 4k on 500$ demo account

[mago]

Hi,i just received the ebook from forex fx traderwhich im anxious to study up on.Like i said in my intro yes ive scalped on a demo account several times opening 500$ account bringing it up to 4K in a month..but i had to be at the screen all the time..ive been demoing for over a year..learning ,bought some robots but forget about that i want to be in control of my account..have tried some indicators also..having trouble keeping the account up...I know theres money to be made in forex..still looking for the right way to making good entries and not getting the trade reverse on me..and loose again..on long term...also im looking for a broker...since im in canada is it better to seek in my country or the UK like many suggest..i want to be sure that when i make good trades and want to pull some out it wont be a problem.im not rich so i intend to start with 500 or 1k...hoping i get some help from forex fx trader and this forum...

thanks in advance...

cant wait to go live....one day....

[capsmart]

Hi Mago,
Welcome to the forum.
What I could suggest you is a broker with small spread. So it could be an ECN that is charging a commission and gives you the interbank spread but usually you cannot trade small amounts. I think the best choice is Dukascopy.
OANDA offers a 0.9 pip for Eur.Usd and you can trade very small amounts, but OANDA is not metatrader. It has an interface that you can easily learn and also has a feature that I like. Trailing Stop loss. All platforms offer a trailing stop loss but OANDA sets the stop loss as soon as you enter the trade. So it can be used as a stop loss and trailing stop loss. You set it at 10 (minimum) and if price moves 4 pips then you only risk 6 pips since the stop loss moved closer to your entry point.
The platform is very simple, not the plethora of indicators that metatrader offers but the execution is fast.

[julianj]

Hi Mago, and welcome to the forum.

I'm sure someone can suggest a Canadian broker. Personally I use Alpari UK and have had no problems.

I'd say there is a big difference between trading well on a demo account and a live one. As that great forex trader Han Solo once said: "good against remotes, that's one thing, good against a living, that's something else."

First place to start is Marc's weekly and daily analyses. Pierre also has a following, though most of them appear to be cats and soft toys

[mago]

I thank you both very much...hope to be successful soon... peace

[raa]

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