hello.My name is Ilgar. I am from Azerbaijan. i have a few knowledge about forex trading. I saw in internet there are many brokers that offers promotions - deposit bonuses , rebate programs, cashback programs and so on. I have a 10000 usd capital in my electronic wallet. I want to start to trade with these promotions .After reading terms of these promotions i understand that to earn additional money from these promotions i must to trade a lot of time and in worst case trade to breakeven. Is there any breakeven forex strategy that opens many positions in a day and that i can use to trade with these promotions ? Or it is not worth to participate in those promotions ? Please give me advice.Thanks.
You’re about to go into a live FX account with $10,000 (real money)?
Yes I am about live Forex account.
wow - best of luck!
My advice: don’t even [I][U]think[/U][/I] of trading with real money until you have a proven strategy with an edge, which you’re confident of trading successfully; instead, trade on a demo account until you’ve collated the results of [U]a minimum of 300 [I]consecutive[/I] trades[/U] without showing a net loss, and traded on a demo account for a minimum of 6 months as well.
Otherwise - one way or another - you’ll lose most of your $10,000.
[I]Stay away[/I] from all counterparty market-maker “brokers”: understand [U]very[/U] clearly what a real “broker” is, [I]before you open even a demo account[/I]. $10,000 is enough to open an account with a genuine broker, and not to have to use a counterparty market-maker.
But if you’re still looking for a strategy, then you’re [I]nowhere near[/I] ready to trade live, with a funded account.
I agree with Lexys. If you can trade a demo account and be profitable for 3 consecutive months, you are ready to go live. If you can’t, don’t even think about trading live. You will lose your money.
Best of luck.
-Dr. Ninja
I agree with the previous posts. Stay away from brokers who offer big promotions and bonuses. These type of brokers are not trustworthy, usually market makers who trade against their clients and use these kind of promotions to attract more and more traders who think they can double or triple their balance by using big bonuses. In the end they end up losing everything. Like Lexys stated, with 10 000 USD you can easily afford to open an account with a reliable regulated broker. Think about it carefully.
Whatever strategy you are about to test for the first time you should always test it first on a demo account. Following lexys advise with 300 consecutive trades is also a good idea.
And you might want to take a look at this thread before gifting your 10k to a broker with such “promotions”.
Maybe you should stay away from forex before you’ve lost these money and trade on demo.
I understand that you haven’t created your own strategy yet…
if you think it to details and test in on demo, you can start trading with $10k without any bonuses. Believe me, you just won’t need them. 