FXCM micro

Beginner Questions
1

Hi

I have been testing my system for a couple of months and intend to go live before the end of December. I have used FXCM micro for my practise account and it has gone well, i like their software and charts. It has been written in a number of other forums that they are not so great when you are trading for real money. Does anyone have experience to advice me?

Help muchj appreciated

2

FXCM is one of the best platforms in the market,tryed 2 other brokers before and after problems moved to FXCM, with them for aprox a year now, and extremely happy.

3

thanks gerhard

I will join today

4

I like FXCM I like the platform spreads are good I have done deposits and withdraws with no problem. The $25 minimum with the smallest trade being 1 micro is a recipe for failure. Make sure you balance is large enough to follow your MM! or look at brokers that allow nano lots or flexible lot size.

5

Hi
It took a week to get the account open and deposit made, mostly waiting for the proof documents to be dealt with but quite a few days just waiting for the deposit to be put onto the account. (Broke the MM rules only $500 first deposit)
Anyway all set up now and made my first few live trades. Profit of $1.29 on the first day. Its weird I am only buying 0.10 of a unit rsking $5 bucks (1% rule) to the stop, but I was strangely nervous and closed a trade early to make sure i was in profit.
Live trading ‘feels’ different, looking forward to next few weeks to see if my system really does work.

6

I used them briefly last year. And at that time they were good. Only thing is that they deal against you, but that should not really matter. Their spreads are usually less than FXCM standard and even active sometimes, if that matters.

7

with a small account I refer Oanda. They allow you to trade any size. even 1 unit.

8

Hopeful becarefull, youre first live trade and your already nervous.Pulling the trigger to early, the next fopaw might be to let your losers run.My saving grace was to write every transaction down after it was completed,which seems to trigger another part of the brain.You used your strategy on demo for a couple months so you know how many losers you had in a row,how much drawdown you had,Use that to set alerts for you if you reach the outer limits of your strategy.Good luck, protect those dead presidents!:smiley:

9

Thanks for the replies
I have joined meetpips and intend to write up each trade. My second trade is live at the moment, I have a stoploss (-10pips) and will not alter that so my looser wont run on. This time I will NOT close it early. On a seperate note I am working hard to research probability, anybody know of good sights too look at?

Particular interest is Bayes theorema and trend information

10

trade 2 result +25 pips, exited at a limit