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How to build your first real account.

kieran (snapdragon1970)
Jun 19 2017 at 20:29
게시물1945
I have been asked this many times by traders and people just starting out with investing, everyone has different reasons for going down this path, too many to mention. Some people I have spoken to have a clear plan of how they want to approach this, others heard from some guy down the pub . No matter what way you approach this education is a must ,now on to the nitty gritty ,what account size would I start with if I was starting out, anything less than 10k is going to be really difficult, this should not be your life savings or a loan, sort out any debts before you even think of investing or trading. Having a full time job you might be able to put some money away until you can start trading. Trading forex is really difficult so you are going to need your witts about you, make those first few trades with as little risk as possible 1% is more than enough to begin with and a reasonable upside 3:1 etc, the name of the game here is stay as close as possible to your initial balance, one of those first trades you will get right so plan to have many tiny losses, its part of trading ,looking back at what you did wrong has no bearing on the future if you are sticking to a clear plan. Keep up to date with news events making sure your trades are closed before hand, find something else to do at times like this so you wont be tempted to make a quick buck and get hammered. Don't try to force trades that are not their, wait for the trade to come to you, a major support area on the longer time frames, check trends on multi time frames. How will I know when to close a trade? that takes experience and conviction for sure, sometimes there will be signals don't ignore them. If your trading account is going down hill take a break and do something you enjoy. The market will have changed in the mean time instead of trying to fight it.

"They mistook leverage with genius".
AniLorak
Jun 20 2017 at 06:21
게시물920
Well, I have opened my live trading account after practicing my demo for one year! When I was a consistent performer in my demo then I started my live journey! As a result, till now I have no experience on MC in my live account! I am hopeful about my live trading success!

Louis (LouAtWork)
Jun 20 2017 at 06:22
게시물2
Hi there,

any recommended brokers to start with?

to know and not to do it is not to know - by someone impt.
kieran (snapdragon1970)
Jun 20 2017 at 09:56
게시물1945
LouAtWork posted:
Hi there,

any recommended brokers to start with?

Two that I use Plus500 and Dukascopy,never had any problems with them, within 3 working day I always get my money.

"They mistook leverage with genius".
Tiffany (TiffanyK)
Jun 22 2017 at 15:13
게시물427
Thank you for sharing @kieran . Also Plus500 is a new name for me. Will investigate them. Cheers!

Accept the loss as experience
L3CAP
Jun 22 2017 at 17:45
게시물264
I am in the process of doing this guys, I am depositing monthly to my broker small amounts of money and trying to get good trading done at the same time. Slowly slowly the deposits add up, and now the hard part is growing the account with some good trading! Getting better at it though.

Choose a regulated broker that does not charge for deposits or withdrawals (I use Tickmill FCA and used to use Pepperstone too they are good).

If you cant afford a decent sized trading account just deposit $100-$500 and over a few months it will build up! and watch your risk on your trades in the meantime!

derf
Jun 23 2017 at 11:19
게시물1
kieran (snapdragon1970)
Jun 23 2017 at 12:28
게시물1945
L3CAP posted:
I am in the process of doing this guys, I am depositing monthly to my broker small amounts of money and trying to get good trading done at the same time. Slowly slowly the deposits add up, and now the hard part is growing the account with some good trading! Getting better at it though.

Choose a regulated broker that does not charge for deposits or withdrawals (I use Tickmill FCA and used to use Pepperstone too they are good).

If you cant afford a decent sized trading account just deposit $100-$500 and over a few months it will build up! and watch your risk on your trades in the meantime!


One can plan trading around events so keep an eye on the calendar, there is no need to trade every day, I only trade when I see something interesting.

"They mistook leverage with genius".
kieran (snapdragon1970)
Jun 24 2017 at 18:11
게시물1945
What I do as well is keep an eye on the stock market, if something has sold off 10% or more I start doing some research, its more of a longer term play, better with companies I've never heard of to avoid bias.

"They mistook leverage with genius".
AniLorak
Jun 26 2017 at 06:18
게시물920
LouAtWork posted:
Hi there,

any recommended brokers to start with?


Please, check their regulation status first! Then go for all of popular review sites, read traders complain and option so sincerely! As a new trader, try to select which brokers are active on educational features and programs!

ZacThePac
Jun 29 2017 at 13:48
게시물11
AmDiab
Nov 30 2017 at 11:44
게시물718
ZacThePac posted:
Also check the spread!


Yes, trading spread is very much important consideration to me! Because I am a scalper! But I see, market maker brokers increase the trading spreads during the major news events!

kieran (snapdragon1970)
Nov 30 2017 at 12:47
게시물1945
I wouldn't normally scalp news events because you get whipsaw,its possible but you need to get out on the first pin bar extension because it normally retraces , easier to trade before and after, wait for clear direction, after the news presents some scalping opportunities,breakouts at major support areas,the spread shouldn't change that much if its a major pair,the bad news is most brokers are market makers even when they say there not,its not really a problem if you trade in a certain way.

"They mistook leverage with genius".
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