Hello all,
I am a newbie and have been torn between advice given to me regarding the benefits and pitfalls of using a broker vs. trading independently. I am interested to hear what anyone has to share regarding this topic. Any help or advice, as any, would be greatly appreciated. Thank you.
I don’t understand when you say as an independent trader. Do you mean by trading with an ECN? I guess in terms of making things easy and money a broker would be a better choice.
Sorry , I meant by independent trader " dealer" . I just lost my business
and I have some money and time , I found trading currencies fascinating but
I need to generate income asap. As I learn more about FX I realize that you need experience . Can you advise me what is the best option from your point of view. Thanks for responding .
Note :do you know anything about those "pilot"
solfware, some claim they run by themselves !!!.
I have experience with EA AutoPilot. It is not working for long time. It empties your account in some months. I am happy that use it only in Demo account. My best point is use some indicators + EA programme + manually. My results in Demo “Track n Trade” account in limited 14 days from 50,000USD to more as 75,000USD (use only manual trading + indicators), in Demo FxPro MT4 platform in some hours from 3,000USD to 3,600USD (use indicators + EA program + manual trading). If have more questions: <[email protected]>. If have interest for income asap, in limited time from 27th of January 2009 my quotation is 25% from new total profit. You shall see reports every day.
Well this can be very difficult to figure out sometimes. But i prefer we trade with the aid of a broker, with this we can trade easily and smoothly. We can choose to trade with an STP broker. So we can choose a broker, but one with good reputation and honesty.
There is this AWL EA autopilot that I used on the profiforex platform recently. It works in 1 min timeframe and currently operates in the following pairs:
AUDCAD, AUDCHF, AUDNZD, CADCHF, EURAUD, EURCAD, EURGBP, GBPAUD, GBPCAD, GBPCHF, GBPUSD, NZDCAD, NZDCHF, USDCAD.
And I’m considering adding USDDKK, USDNOK and USDTRY, but it isn’t a priority right now.
It opens trades in most pairs from 20:00 to 22:59 GMT and closes them at 3:00 (there are small differences in some pairs).
Has anyone tried it.
You can successfully use some EAs on this broker. I haven’t tried using any EAs on their platform, but when I asked their customer services, they said I can use any EA I want. Please can you tell me how far you’ve gone with the AWL EA that you described above on the profiforex platform?
I never knew profiforex allows automated trading. Where do I find a good one to use? This is really going to be interesting. Please reply ASAP