Hello All
Thank you for this forum and its great to read all the feedbacks and advice. I am just getting started and have decided to study FX trading in between by studies and work. I have just opened a demo account with Fusion and have been reading up and watching loads of Youtube videos on the same. Today was day one and I am sitting on -2433 on my demo account
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Its obvious this will be a long journey and I look forward to your support and guidance along the way.
Thanks
T
Welcome to the community, @TO. Good luck on your fx trading journey.
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Thank you for your words of encouragement @ria_rose! Being new to FX trading, I started off with a simple strategy of following the ‘health’ of an economy and trading up or down based on how they were doing.
Two things did catch me offguard as well, firstly, I wasn’t aware how sensitive PIPs was and had set it at 10 for one of the trades. Secondly, my computer went into sleep mode which seemed to have exited the trade and I lost ~1400 on this transaction alone.
Therefore, looks like more practice and understanding the application fully.
Do traders use a strategy of really short term trades i.e. 10-15 mins? Is it possible in the real world to exit a trade instantly as per the demo system?