19 year old student whom recently just started studying forex, been using demo accounts on trade.plus500 and just trying myself a bit on the stock market. Just trying to get as many advices / knowledge I can before I set on trying out on the live marked (forex) with real cash. Any good recommendations on what program/broker to use? I see that trade.pluss500 is really bad, no newsletter and it’s hard to know when to go short or long because the indicators and graphs are rubbish. So I started using metatrader 4 on the side to get a bit more into the whole graph system, analysis etc. and it’s working fairly much better than trade500. Anyways, what’s a good amount of cash to start out with on forex? Keep in mind I’m a student and right now I have about 242 USD which I can use on the marked. What leverage should I use when I’m going to just scalp the marked? And is 242 a considerable amount of cash to start with our should I save up some more? ALL comments are appreciated, so shot away sensei’s, I’m just a young grasshopper trying to learn the many ways of forex trading! If there is ANYONE with some years of education on trading that would like to take me under the wings and be a mentor for me, I’d really appreciate it. Either way I’ll be lurking on the forums on a daily basis to keep up with news etc!
Hello and welcome to our forex community! I would suggest that you practice your forex skills on a demo account first while building both your educational and financial capital. Once you’re making consistent returns, you could open a larger live account and be able to make higher profits with a better market background.
Hi and welcome to the community!
Thanks guys! I actually have already made a demo account pipdiddy, and I’m getting the hang of forex trading quite easily. I’ve made profit on 11 deals at streak. 11-0 win/lose ratio