I traded succesfuly in a demo account for 3 months, now if i can make a 10 % monthly accumulated, then it seems like i can score a million in 4 or 5 years. now what’s the catch ??
i use scalping and also trade in 15 min frame trading, use several indicators, now there are several miths (or thuths i dont know) out there about forex: it’s a zero sum game !!! ecn dont manipulate your prices like market makers do!!! forex is a scam they hunt your stops and or manipulate prices, they delay your orders !! when you start making a lot of money they close your account !! they dont let you withdraw your money!!
It takes a little comon sense to realize that it is not a zero sum game since a currency pair that moves 100 pips in one direction from 1.2810 to 1.2910 ten guys can make ten pips each buying and selling each other. and even the last guy could probably buy for a longer position and hold for days or weeks with larger stops.
I also heard that things changes when you move from a demo to a real live account: with slippage and other problems.
Now with so many scams it is hard to make a desicion about what broker to choose.
FXCM, CITI, SAXO, CMC, CMS, OANDA, ETORO, FOREX.COM, GFT. Seems to be the best rated, but then again is so easy to fake a review, plus i found all of them to have negative reviews in some websites.
My question is what is the technical difference between a real and demo account, not the emotional of course when you trade a real one you risking hard earned money. i also found this link in wikipedia: http://en.wikipedia.org/wiki/Forex_scams
CFTC investigated more than 80 cases involving the defrauding of more than 23,000 customers who lost 0 million.
So im looking for somebody out there that has been trading succesfuly for more than a year, and tell me his/her experience regarding all this matters. What is the best broker, ecn and so on and on.
I appreciate any help and comments, best of luck.
thanks comon sense, i thank you for taking the time to answer was expecting more especific information.
Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about forex trading indicators the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.
This question was about forex trading indicators and there have been some pretty good answers that should help in your trading, and especially in relation to forex trading indicators, the answer has been posted in the categories listed below:
