What would be your advice, to activate my small account on ipad or laptop?
I’ve been doing my demo with iPad and I also has another new demo with limited $3k on my laptop. I find the way they operate differently. On my laptop I can’t execute a standard lot on the $3k demo but on iPad I can. I can only managed to execute a 0.5 lot with 15pips SL on my laptop. Perhaps, it’s the equity difference of $3k and $100k account.
There are indicators that laptop have but iPad didn’t, not that I’m using them in the near future. What would be your advice? I have 2 little account, don’t know what’s the leverage, lol, that I want to try to see how I react to the emotional side of trading.
You should get the proper knowledge about forex which is available on the interment and then you should start your demo trading with full honesty and should spend at least two months on demo account then you can become the good forex trader.
I have something similar. Ive downloaded mt4 from my broker onto my desktop but use their app on my tablet more often just for convenience, even though it has limited features
Indeed. If you read the quoted text you’ll see that I also made profit on GBP/USD. But as eddieb said it may have turned the other way around. I’ve been trading Forex for a very long time and believe me, I’ve seen lot of things. This time you were lucky, the next may wipe out your account. But then again, it’s your money and your responsibility.
There’s certainly information out there if you look for it. There’s also a superb free school right here on BabyPips.
Best Time To Trade
If you have nothing preventing you from trading at any time you choose, when would be best?
Personally, I would have thought that if I traded, for example, EurUsd since its the most popular pair, then the optimum time would be during the latter part of the European and early part of the US sessions. After all, thats when most traders are busy, its when most EU, London, and US announcements are made.
Surprising then that a survey by brokers FXCM found this…
"We analyzed over 12 million real trades conducted by FXCM clients, and we found that trader profits and losses could vary significantly by time of day. That data showed that most traders are what are called “Range Traders,” and their successes and failures very much depend on market conditions. In fact, this trading style means that many of them have trouble being successful in forex because they are trading during the wrong time of day.
Most forex traders are more successful during the late US, Asian or early European trading sessions – essentially 2 PM to 6 AM Eastern Time (New York), which is 7 PM to 11 AM UK time."
This chart shows the volatility peaks for EurUsd as FXCM found it
So, if it can be fitted around your lifestyle, it looks like this is the best time to trade
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What’s the difference between the trading session other than volatility? Do US trade to support US, EU support Europe and Asian support Asian?
Asian countries are more likely to make major announcements during the Asian session, European in theirs, US in theirs. I would have expected most volatility to be around these announcements. That’s why I was surprised that EurUsd is most volatile in the Asian session. The article doesn’t explain why this is the case as far as I can see.
[B]Don’t open a trade while an existing trade is losing[/B]
Most new traders have limited resources, so we don’t really want to watch as 2, 3, 4, or more trades all running at losses.
Hopefully when you’ve opened a trade you’ve put a stop in place. If so, great, at least you know your losses are limited, although its still stressful watching price go against you. Now multiply that stress by the 2, 3, or 4 other losing trades you have on, not very pleasant is it?
Wait until your trade has its stop at break even or better before entering a new trade. That way you can mentally set the first trade aside and concentrate on setting up the new one.
Namaste
Thanks Eddieb
I think you have provided a sound approach for risk management. However, I would personally consider opening a new trade, even if my existing trade was floating a loss. This is assuming the stops I set limit my risk on each trade to 2% of my equity. Also, I would limit my total effective leverage to 10:1 across all open trades.
Very good suggestion, Jason, thanks
[B]Newbies shouldn’t scalp[/B]
Scalping can be profitable and can provide instant gratification, no doubt about it. But new traders need more time to consider why and where they are entering trades than more experienced traders. They need time to watch the trade unfold, to learn the dynamics of trading, the ebbs and flows of the market, and they won’t get this if they are in and out of trades in a matter of minutes or even seconds.
You can always try scalping later, when you’re more experienced and less stressed.
Namaste
great work eddieb and a lot of effort youre putting in this thread.
keep it up
I second that…
Yes, independence day is coming…
It is funny that Farage wants to make 23rd June Britain’s Independence Day…
Haha
100% agree with Eddie…scalping is very specialised indeed…I transitioned to scalping a few years back and greatly underestimated the work it would take …it needed a really good and experienced mentor to get me up to speed and I had to reset and calibrate a lot of my indicators to make it work
so be careful in that arena 
N
Thanks nvp.
The pity is that most newbies will start out as scalpers, encouraged by brokers who take a bigger percentage of their trading capital relative to the potential profits. Shame, because so many lose their accounts before they find out if they could actually make it. It’s a bit like this…
Forex is a risky business and we can not succeed if we have no skills and knowledge. So we should know how to survive in forex trading. So this article would be very helpful for both new and existing traders.
Well you have said the right thing. The risks that we are having in the Forex markets are much and only when we will be having the risk control methods with us we should be doing high volume trades 
While scalping is looked down upon it contains so many elements that new traders should strive to learn about…preparation, quick feedback, fighting greed, MM over time, ability to cut losses quicker than any other style, lowest risk:reward ratio. Pity? Yes, but only so much as for the size of their accounts and their lack of mental fortitude.
How do you figure scalping has the lowest r:r ratio when such a disproportionately high percentage of a scalp trade is needed just to overcome the spread?
Regarding ability to cut losses quicker, if you use stops, as new traders should, it doesn’t make any difference at all.
No one’s looking down on scalping, its just not advisable for new traders
Namaste