Finished pips education...any recommendations?

Hi everybody,

I am as green as grass. Just graduated from pips school. I just wanted to say hello and thank the makers of the school for their work. I have been laughing a lot. Does anybody have a recommendation in regards to which broker to use…I see so many? Also those demo accounts are they really completelly the same as the real thing?

Thanks for any info!

H.P.

Thanks for reading our School of Pipsology. Now I recommend you read it twice. :smiley:

ForexNinja and hobbit, thanks for the welcome, and I will read the school
again…like I said it is not boring at all…the opposite.

Thanks for the info, and I will dig some deeper into the world wide web as well.

H.P.

:slight_smile: Congrats for your graduation. I suggest keep reading the babypips lesson as sometime being the fresh graduate we forget some useful lesson during the trade. Demo are almost the same as the real one except no live money involves. Depends on which currency pair you interested in, if you going for GBP/USD I recommed you go to Cowabunga system. I have good trade with the system but I incorporate pivot point, as I’m a DAY Trader.

Good trading…cheers.:slight_smile:

Also those demo accounts are they really completelly the same as the real thing?

Demo programs offer many benefits. They are useful for learning your dealer�s software, becoming familiar with price patterns, learning how indicators behave under certain conditions, and for testing new trading ideas. Results from your demo trading are not likely to mirror your real world results. There are a few reasons I believe this to be the case. Your mileage may vary�

Demo programs are exactly what they�re labeled: �demonstrations.� They are designed to be teaching tools. They are also awesome marketing tools, but you�ll have to flesh out that issue on your own. Dealers need to show you that �you can do this�, so they let you take a free test drive. Along the way they have an opportunity to show the benefits and features of their platform and to differentiate themselves from the competition. They also want to develop a little thing called �brand loyalty.� btw � You look pretty good behind the wheel of that flashy platform! :smiley:

One of the �pros� about demos is that you can learn to identify high probability set-ups without financial risk. You can test out ideas and methods of identifying trades and get a ball park idea of how effective those ideas may be. Perhaps [U]more important[/U] is discovering how you respond to stress in situations when things don�t go the way you planned. IMHO, 99% of this game is in your head. Perhaps .01% is in your software.

Keep in mind a few additional things about demos. They run on separate servers from live accounts. Prices and volatility on demo may or may not reflect live trading. For example, when a dealer shows a bid or offer on its demo server, everyone who pushes the button to hit the bid or lift the offer gets filled. Many traders on this fine site will attest to the fact that real markets do not work like that. There is no infinite bid or offer in real trading. I believe you can use the demo to test ideas and learn set-ups, but take the results with a grain of salt. (Don�t plan on doubling your money every week and retiring next year. :rolleyes: )

Hope this helps.

I have to disagree I believe it’s 0.00988994924614% but I mean we can’t all be accurate to 14 decimal places can we? :smiley:

But on a serious note when picking a broker, as long as you know that they are registered, you are comfortable with the platform, and maybe just ask them a few questions (the more the better) to see how helpful they are it might give you an idea of the customer service. Best eh. Pretty much all you need is in the above posts

He guys, I really appreciate the info.

It is always better to hear it from people with experience in that regards.
I have been digging around on the internet for the last couple of days, and there is so much info, so many e-zines you can sign up with, so many brokers etc. It is like everything I guess with the world wide web. Lots of good stuff, but also information overload. My inbox gets fuller every day.

Another thing for me is figuring out when to trade. It is GMT-10 here, what probably keeps me out of most of the European and US markets, unless I will become a vampire.

My initial instinct is becoming a day trader, so babyfx …thanks I might try the Cowabunga system then. Gets me started…cool.

Do any of you have a preference over a server-based platform or a computer based one?

Well hopefully one day I can say I will be part of the FX-world. I am very excited.

Thanks…it helps