Looks like a 14dayst waiting procedure is normal. I also waited 14 days to withdraw 70K with my broker 4xPremium. I’m very happy with them. I just found out that they will move from england to Australia so they can continue to use the 1:300 leverage.
I’m trading with 4x premium. Good broker and good service, but from time to time it drives me insane. Like now that they have announced they will move to australia because of the new european regulations.
looks like we have the same broker. Glad to hear im not the only one with this problem.
I don’t know if you have heard but looks like 4xPremium is moving to australia because of the new regulations of EU regarding the leverage.
first time took the experience , anyone feel emotions when trading in demo. hope , you will be a good trader ,
Whatever, it is! I think you need to practice more; only 2 month is not enough here (to judge your trading skill)! How many trades in total?
I tried opening many trades at the same time with the stop loss active but i don’t remember how many. What i think of doing now is to open only one or two trades and to give it room to grow and to place only take profit. I have seen online that many traders prefer long term trading without the stop loss option active.
Thank you so much.
I remember recommending this. Have you seen why you needed to start a $250 Demo Account? imagine that was you Live…
I’m guessing your problem is position sizing. Did you go through the school of pipsology? I suggest you visit the lesson on position sizing.
You are still trying to use same size as your first account, this is the difference I wanted you to see.
Stop losses are important, trust me there are. You can give your trade room to grow for weeks and months without a stop loss and still close on a negative basis when emotions set in.
It’s not really about placing a stop loss, but knowing where to place it that matters. Your stop should be placed at specific distance from price that you think price will not retrace to but if it does, at that point you want to cut losses.
You then use this predetermined stop loss (in pips) to calculate your position size to perhaps 0.5%, 1% or 2% of account equity.
In my opinion, only set TP if you are not going to be checking your screen from time to time. Why try to cap your profits on positive positions? Go and research on the concept of pyramiding. Or atleast try to buy off some profits and move stop to break even, Oh! What great joy comes with doing this.
You can only be profitable in a long run if you take great advantage of your high probability setups and make the most out of them.
Few quality trades are way better than so many that you can’t even manage anymore. Take 1 to 2 a day only and manage them accordingly. Experience will tell you to take more later on.
Hope this helps
Cheers!
how much time you have passed for practicing , its not a deal , the main deal is how was your effort when practicing.
Agree with you; but practicing for only couple of weeks is not enough here! We should judge our trading skill after 500 trades (minimum).
Perhaps two months practice can be insufficient for you when market will move suddenly or will move in very uncertain manner. You will definitely require good trading knowledge so that you can wisely make all the trading decisions.
You need to learn how to control risk.
Trading in general, in any market, is 80% risk management.
Did you take the free course from this website?
It’s pretty good.
I am going through it myself at the moment even though I consider myself an experienced trader.
i did the same. i was already trading but still went through their school. it is really good.
Im sorry did you say the school of pipsology? what is that ?
no but i will. I have been really bussy with my work.
You are the only person that can answer this question. Many traders get carried away and think that they are ready to crack the trading market. They need to be confident but humble in their approach. I hope that you will not rush things in investing the actual money.
You need to think thoroughly before investing in forex because you can lose your entire money in it. Forex trading spares no one. You need to ask yourself if you are ready for the tough times ahead. You need a big enough heart to enter and bounce from the obstacles of the trading process.
nobody is ever ready when they start trading but atleast they are familiar with the movements and charts so if you think you can handle and understand the movement of the market and you can read the charts, give it a shot. but try with a micro account first.