That’s very good, because $400 is a small price to pay to learn a lot.
The Reality is… if you were to pick pretty much any paid Trading course, it would easily cost you between $800 - $6000 if not more
and what you would learn would be relatively basic information that would result in your PROBABLY not being a successful trader, due to the short nature of these courses.
Your personal experience is worth a lot more than what these courses can instill into you…
as far as im concerned you got a bargain.
they don’t exist.
a Broker will always do what is more profitable for the broker.
sometimes that means not trading against the retail trader
sometimes that means not accepting the retail traders trade
sometimes that means trading against the retail trader
and sometimes that means not trading against the retail trader but passing the trade to another organization that will trade against the retail trader to make the money back that they paid the broker for the trade
Honest brokers don’t exist
their purpose in business is to make money by any means necessary.
all you can hope you get is a broker that doesn’t play too many games and that you can work with…
it also helps if you are not too greedy
what do you mean by this…
I mean… if you have plenty of capital and free margin, then your trades should not be closed at all unless they hit a Take profit or stop loss or you close them of if they have an expiry on them.
but, if you are talking about Margin Calls
Every broker will shut you down if you deplete your Margin for the trade
my advice… LEARN HOW MARGIN WORKS
and be aware of how much margin you are entering a trade with vs your capital
and example would be
You may have $400 account balance and you open a trade and the Nominal Margin is $20
this means YOU NEED $20 to run the trade (based on your account leverage)
but then you could choose a different instrument and your required margin is $200
now. that’s a big difference… huh
you just invested 10x more into the trade
if you want an example of this
go on demo, start with like $1,000
Open 1.0 Lot of EURUSD
and open 1.0 lot of BITCOIN
see what happens LOL
if you want to know why ??
it’s because your currency might have a leverage of 1:400 or something like that
but bitcoin has a leverage of 1:5
Now imagine the rude shock you would get if that was REAL MONEY
do it… IT’S GOOD EXPERIENCE…
so… if you don’t manage your margin correcty, YOUR BROKER WILL SHUT YOU DOWN make no mistake about it
it’s the brokers way of saying
"you clearly don’t know what you’re doing, so … i’m not going to lose money , even if you are."
you can’t trust any of them
THERE IS NO TRUST IN FOREX
i spoke to a guy a few days ago,
his broker stuffed him over
he said something like “I gave them my loyalty and look what they did”
Mate… there’s no loyatly, there is no trust towards your broker
it’s a pure business relationship
you use them to your advantage and they use you to their advantage
it is our responsibility to use them as we can
and there’s to use us as they can
what does this mean…
it means RISK MANAGEMENT
tha’ts the best advice you’re gonna get