Hi i have 1000 to invest. I did the course and played on a demo account. What broker or trading platform i use to start? Im from Montréal.
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how many time you have passed in a demo account ? can you share more about please ?
which broker is appropriate for your trading condition , its difficult to answer, try to make sure good one by FPA reviews , and don’t choose it with an emotional state, because, broker can affect the result of your trading with certainly.
don’t use it in a real account until ensuring a powerful trading strategy with money management.
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keep busy in school level and trade in a demo account . that’s all for you.
Save more it’s not enough. Do babypips course continuously. Come back when you have 10k until then demo only.
Stay away from the hard sell marketers. You can learn the basics of Forex trading on your own and then when you are ready to take your trading to the next level you can seek out a professional trader to mentor you.
Keep a trading journal of your trades and review it so you can start to figure out what is working and what isn’t working. Do more of what is working and less of what isn’t. Take slow steady steps in your trading journey. Always focus on improving and education first and the money will follow.
Eventually you will start to trade less often, start to make more wins than losses, and gain confidence in your abilities. Having confidence from success will be the turning point in your trading. Once you get to this point when you are past the break even trading point it is all uphill from there. Good luck.
Thanks for the good advice
How long did you demo trade?
1 month and made 50k with the starting 100k…i know its easy with 100k…with money you make money.
For demo you can use any, but live account brokers should meet strict criteria. First of all - regulation, you can choose broker regulated at least by Cyprus CySec like Hotforex, but UK FCA would be better (for example Tickmill or Exness).
Broker had to operate at least 3 years and show immaculate reputation and get positive feedback from traders. Get thorough research on their feedback.
Third withdrawal speed. Test withdrawal speed on preferred method it should be within 48 hours.
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How many trades did it take for you to get that?
You can try to use an ECN account. A Lot of privilege that you will get, such as: fast transaction, cash back, private advisor, etc.
Yes , I always prefer ECN account for the traders who are particularly beginners.
The beginning of anything is always hard but there is no need to worry. You have to learn the basics and fundamentals of forex trading. I know that it is not easy but in order to gain something in life, you have to work for it. It is the only possible way for success.
Mate honestly, only one month is not enough here! Never & ever, spend more time on demo then judge your trading skill.
I agree. There’s still a lot to learn. Just keep on practicing your demo account.
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The very first step you need to take in forex trading is to learn about the basics and fundamentals of the trading process. I know that there is a lot of dedication and hard-work required for it. But if you want to be successful in forex, you need to have a die hard attitude.
Thanks mate. Exactly; learning is such a long term process here; no shortcut way actually!
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- First, study hard and trade a lot with demo (to teach your neurons). Invest in education, learn Forex from the Pros.
- Then, get volume-based no-lagging strategy & tools/indicators that will prove itself on a $25-$50 real account.
- Then find an real ECN A-book broker that do not cheat.
-Then you can trade your $1000 or better find a good prop-firm to get larger capital paying subscription fee for CAP participation, and trade prop-firm’s money (this will also train your discipline and money management which are most important when you already trading winning strategy) .
I personally passed all the path (all those steps with many ups and downs) and found best solutions…