I am new to forex and I am trying to learn as much as I can while I practice on a demo account.
I did an introductory course and was thought some basic strategies along with a few pointers such as;
1 - Never risk more than 1-2% on any one trade or more than 6% of total account at any one time
2 - Only take trade opportunities if the r:r ratio is at least 1:1
Can you guys please let me know if you agree with the above and if you generally trade with these rules?
Also, is it possible to find a reliable EA or Expert Advisor that could trade basic strategies on my behalf and that would follow points 1 & 2 above and manage to make about 10% a month, or is this only possible with careful and experienced manual trading? Or do these EAs tend to use a lot of leverage leaving you vulnerable to margin calls and your account being wiped?
Also, who do you find is the best broker and why?
Thanks so much for your advice!