Feb 10 at 13:31
salamibrish posted:Mathewshayden posted:
Garry, I agree that you won’t lose anything when you demo trade. But if a strategy works well on your demo account and fails when you go live?
Flexibility is the key to winning because if we are flexible enough we can earn a lot of good money. I was scalping because the markets were not that good. So there are many brokers in the market but for me the most suitable broker is Fxview due to low spreads. When the markets were moving again I came to position trading through IB because of its good analytical tools. So you cannot always trust one strategy. The brokers charge their fees because they provide us services.
This is true but it should not be on the basis of the emotions, but rather on the basis of the state of the market.
Feb 11 at 07:57
Adamgylicrist posted:salamibrish posted:Mathewshayden posted:
Garry, I agree that you won’t lose anything when you demo trade. But if a strategy works well on your demo account and fails when you go live?
Flexibility is the key to winning because if we are flexible enough we can earn a lot of good money. I was scalping because the markets were not that good. So there are many brokers in the market but for me the most suitable broker is Fxview due to low spreads. When the markets were moving again I came to position trading through IB because of its good analytical tools. So you cannot always trust one strategy. The brokers charge their fees because they provide us services.
This is true but it should not be on the basis of the emotions, but rather on the basis of the state of the market.
Yup I agree, emotions can also lead you down very much if you don’t take rational decisions.
Feb 12 at 09:48
I don’t think there are ECN accounts with commision free models because then how will brokers earn money. There are STP accounts which earn their commissions from the difference in the spreads. I could be wrong though.
Feb 15 at 11:47
There are many brokers in the market which provide pure ECN accounts which are very easy to understand. For example I am using Fxview which charges per lot. There are other brokers too who use STP models such as alpari, pepperstone etc. So there are different models of commission.
Feb 16 at 04:06
ECN or some other account, no broker can provide you free service. It is absolutely sure that a broker also needs to run their house.
Feb 16 at 09:27
Garrychris554 posted:
ECN or some other account, no broker can provide you free service. It is absolutely sure that a broker also needs to run their house.
This is true. If you are scalping then I think STP accounts won’t be beneficial for you because it will ruin your profit margins.
Feb 16 at 11:44
Hey Philip, I too think that if a trader wants tightest spreads possible, then pure ECN accounts would be much beneficial. You will get tighter spreads which are so essential for scalping.
Feb 18 at 04:18
Garrychris554 posted:
ECN or some other account, no broker can provide you free service. It is absolutely sure that a broker also needs to run their house.
Yeah, I agree with you. Who will provide a free service for nothing? It’s not practical at all.
Feb 18 at 11:06
Sure! There are plenty of low commission brokers out there. You’ll find one easily. I suggest you go with a low commission broker instead of a no commission one. This will save you some hassle.
Feb 19 at 05:01
There are options like Pepperstone, Swissquote, XM, Xtb, Forex.com, Fxview. I have used them all so I know how it must be. You can always begin with a demo account in my opinion and experience a platform. This will give you a fair idea of what the services and conditions of a platform are.
