lol…keep singing that same old song…someone might believe it…but I doubt investors are that silly…I bet if they want flexibility they will take a yoga class or something
FCA Regulated brokers are obliged to comply by the strict guide lines of the financial authority. Besides SECURITY AND SAFETY OF FUNDS…some of the rules are here below:
-Treating clients fairly, not misleading or fooling them.
-Financial compensation funds(should anything happen the client’s money doesn’t JUST vanish).
-Segregated accounts - clients money are not used to buy cars or houses or pay for ANYTHING ELSE BUT THE TRADES.
-Capital adequacy -Maintains sufficient liquid capital in excess of the amount required to cover all client deposits…
And many more benefits…but anywho…people will always find a way to scam and be scammed…they will always fall for the boiler room salesman pitch…after all who needs safety and security of funds…lol…and why would a company go through great length to seek the regulations…for what reason…while they can buy a company for cheap in the BVI or Mauritius or Belize…and not even rent office space…hehehehehe…Good luck to all traders who trade for unregulated brokers…mark my words…you were warned!
Hi isrealz, I appreciate you post. I am new here and I was hoping to find a simple strategy to start trading. I have not yet registered a live account yet as well. Could you please share in details the trading style you described and which of the two brokers you mentioned would be perfect for this?
Paxforex does not seem to work anymore, I don’t know what is happening, but my hunting me somehow. Please avoid this broker. I am still doing well with Profiforex, no issues so far.
There is no doubt about this that a capital of $500 is enough for countries where USD has a very high exchange rate. A return of $100 to $150 on $500 is a reasonable income for them.
I think $500 or even $100 is ok start out with but certainly not enough to quit your day job. I would still keep the risk % small and keep an eye on the % gain. When you start to see a consistent return you could start making small deposits to slowly increase the account size. As you get better at trading your account will grow faster and faster but in the mean time you will be keeping losses small.
In the same way, capitalism created a boom bust business cycle. So Uncle Sam took over monetary policy and smoothed out the businesses cycle. Since 1914 we have not had any notable boom or bust.
You can start with less than $500 and grow your account slowly; as long as you don’t expect to make $10,000 with the $500 within a week with that amount because that is greed and you will end up loosing your account. I followed your link and opened an account with Profiforex. I am now working with your strategy and so far, it’s perfect. The execution is perfect as well, no wonder it works for you. I will update on this thread.
Depends on the risk you ready to take. If you increase risk I would suggest to limit entries, doing so you’ll expose your account to less transaction costs. Always remember that you have to keep balance between risk/profit ratio because if you let it go, then your trading will turn into gambling for sure…
You can make 1% daily if you don’t want to take a risk… lol. Actually, you daily profit cannot be ascertained since the market does not have a one direction move.
That’s correct, the success of forex trading has no relationship with intital funds, every veteran grow up from newbies, with enough experience and skills, everyone can become success in forex trading.
I take the point you’re making, that “we all started as beginners, knowing very little”, and of course that’s quite right in the sense that nobody was born knowing how to do this stuff, but it’s also an inescapable reality that one of the commonest reasons for failure in the early stages is undercapitalisation.
“With enough experience and skills and capital” is a little more realistic: I think the point you’re perhaps missing is that many people who might otherwise eventually have become successful, by gradually gaining skills and experience, effectively deprive themselves of the opportunity to do so through a combination of undercapitalisation and inadequate understanding of position-sizing, whereas those initially better funded, who approach it treating it as a business, with sufficient working capital to cover the initial phases, have the odds far more in their favour.
Just one of the realities of learning to trade, I’m afraid: for all the [I]theoretical[/I] discussions, the [I]reality[/I] is that those with more funding have better overall prospects, so success in forex trading, in practice, [U][B]is[/B][/U] actually fairly closely correlated with initially available funding.
Yes I think although any trader start with 500$ they also can increasing money if they have good skill trading, most important I think is skill trading and making profit, although use small capital if they have good patience and always making profitable trading system hence very possible making good profit
yes u can make profit with 500 or even 50, it depends on how much do u expect? I mean theoretacally speaking, the larger the account the less the risk involved compared to smaller account when using the same strategy, but for now if you are new, just take it slow, open demo accounts with good brokers I persoannly trade hotforex and prcatice your strategy, dont forget to go through school of baby pips.
