Hi there, I am a newbie in forex and I want to try it out. I want you guys to suggest me a site that would have the following characteristics:
Real-time chart
Friendly UI platform with demo account included
Allowing low bets (10$ perhaps for “educational” purposes :D)
Allowing to set a stopper. For example if I buy a pair, I would be able to set the program to sell it automatically when I reached 10 pip profit(even if I shut down my PC if possible?)
Additional stuff: It would be great if the site also has a mobile platform(android).
Also I herd some sites don’t allow you to sell when you have under 10 pip profit. Maybe a site that allows you to do that? Although I don’t think that matters since I am not trading billions
Thank you all a lot for taking the time reading my topic, and for the upcoming suggestions. I wish you all many pips ^^
I think you may have just described just about every retail broker out there. Do some research into brokers and pick the one which suits you best. Most retail brokers will offer MT4 as their trading platform so that should not be a factor.
Personally, I am not sure you are reading for trading if you call it “bets.” This type of thinking could lead into big losses in this market or any financial market for that matter. Do more research on trading psychology before you open a trading account, demo or real. I am saving you a lot of money here.
The company you start demo with probably wont be the one you want to trade real money with. For demo you want to start with a company that offers unlimited demo in MT4. Trade with the same account balance and trade size you would in a real account, like a $1500 account balance and a 0.01 trade size. You should have $1500 in your account for every 0.01 lot traded. Maybe Hotforex offers unlimited demo in MT4 platform? Do some research. Don’t trade real cash until you have 3 months profitable in a row in Demo (no cheating!). That might take years. Once you move to cash, don’t increase your cash trade size until you have three months in a row positive. Go through the babypips school to learn some basics. Plan on it taking the same amount of time to be a good trader as it would take to be a good doctor or lawyer or engineer, about 5 to 8 years of study and practice. Read pipcrawlers thread on setting newbie expectations. Don’t waste any money on gurus and magic software. Those are all a scam. Everything you need to learn this profession is available for free with some google searches. Best success!
You will be thrilled finding out that majority of brokers offer much more training and trading opportunities that you expect. Almost unlimited (100 K) demo accs, comission and spread ones, various assets, richly functioned, no-frills MT4 platform, fast execution and tight spreads. But I believe there is a lot of knowledge you have to digest, so start with plain opening of sell and buy orders in your MT4 platform. You can pick demo from my mercerfx broker, but note that all demos are identical everywhere, so don’t spend much attention to it. Start to conduct probes on real accs, it is for future…
Okay I am not going to suggest you any broker, because this may look like advertising.
But what you can do is do a Research on broker section of babypips forum, then find the broker that suits you most. There are so many Good brokers and we traders are always sharing our experiences on that SEction …
Thank you all for your nice replies.
I found 2 brokers that I really like, and let me trade with low amounts of real money. I know I am not experienced, but losing 10 dollars is not a big deal for me, and I really wanna try it out with real money first.
I only have 1 question. I have an account at a broker with 10$ fund and a 1:50 leverage. On the brokers MT4 platform however it says I have 1.000$. I made 5 trades each with a volume of 0.10, and now it says that I have 1.050$.
Does that mean that I made a profit of 0.50$ and my actual funds right now are of 10.50$?
Thank you a lot for your help and sorry for the lame question.
Places for free stuff google lance Beggs ,Al brooks, no brainertrade .Don Miller.kozok Flemming
best education material my opinion books from Bob Volman ,Al broks Lance Beggs
Ps Don Miller and Kozok Flemming have verify that they have make lot of money , they other are rather similar style ,
I had good results with a few, but for me, Activtrades was the best. They have this neat smarttemplate thing which really helps me out (though harder sometimes if you are colorblind like I am.)
Are you looking for a broker (trading site)? Through your questions, I think you should take some basic lessoons in babypips education section since all well-known brokers offer all your requirements, even better.
