the most important thing that nobody will ever tell you is that

1. lower TF is the most shittiest place to trade because there are a lot of fake price which leads to fake signals.
2. lower TF is for the advanced traders who are used to the harsh environment
3. there are big players and small players therefore a lot of manipulation will happen => fake signal => losses
4. when to go in and when not to go in for your system you're using
5. indicator behavior under different circumstances
6. simplicity and not complexity
7. finding the sweetest spot to go in

I am totally disagree on this. people can start to learn from as low as USD10 account, a lot better than demo account. Starting is not about getting profit, it is about survival and learning technique then only you start to think about getting profit.

Demo account i could earn a lot mang. Can even make 50% profit.

When i put in money inside, real money, about USD600. I blew up the account in just 2 months time. LOL

I am now starting to relearn again. And trade from the balance USD4. I read a lot trading books when i got time. I don't see the need for me to keep on pumping money inside when i am not ready yet.

I am a loser, but i will improve and become a winner one day.

To those of you underestimate USD10 account. If everyday u can grow it by 3%. tell me how big can tat be in 1 year time.

3% increase in forex is easily achievable with the right mind and technique.

Dont think USD500 is a large enough amount of money to start trading.. better put ur money elsewhere. Trading is about conquering greed and fear.. yes u can learn trading with small amount of money..but your psychology will play against you. Would you be able to spend time managing your trades just to gamble USD10 per trade? (assuming you risk the recommended 2% per trade rule). From what my experience, new traders will usually have high expectations.. you have to set urself to win. And having enough capital is part of it..i think.

Hmm i don't know about others but i think USD500 is more than enough for a start because

no matter u r starting with a USD10, USD500 or USD500,000 account

if one didnt learn the survival ways in forex, it's gonna blow anyway. So why not start small? I assume people want to put in big deposit so they can earn big fast money, which is wrong.

Hmm just my 2 pips. i am a loser anyway. I have blown a USD600 account, I regret that i keep pumping money into the account when the most important thing i should do is pumping knowledge into my brain. i should have just learn to trade with the remaining balance long ago.

Depends really.. what im saying is, you will probably be more fearful and greedy trading with USD100 account.. compared with a USD3000 account. Bigger account usually make a trader more confident and disciplined.. they dont go in looking to double their profit in one month.. and they will be willing to trade smaller lots. As much as i like to read charts and news, the whole point of trading is to make money.. dont think trading on a USD100 is really worth all the planning and analysis before making the trade.. but thats just me.

Hehehe problem with human nature, when you got big account, sometimes if the trend move opposite our trade, we might 'revenge' it by placing more contract because in hand we got a lot capital. or some people call it 'sai lang' or show hand'. We all have greed, thats why we are here discussing trading. So no matter small or big account, is still the same untill we realize and change. hahaha. Well it all depends on dicipline i guess. But for starter, one will not know his own behaviour and weakness untill one start trading. So why not start with low capital first before putting in more? If one can't handle a USD10 or USD100 account, how can one handle a USD5,000 or USD50k account?


So why demo account don't work for me? human nature. Free things we take for granted. LOL. We have almost no emotion threat when playing demo account. Hey it's fake money. Just dump everything in. LOL. If own money, sakit hati mang.

u got the point bro..

I think it stil depends per trader, there are no right or wrong way hw much the stake must be risked.. every trader will hv different experience and knowledge about the market..

Its like asking Mike Tyson which way to punch is the perfect way to knock out a person, while Muhammad Ali will tell u another way.. XD

USD500 is the best amount to use to trade live...

there is no replacement for live trade.. using demo...

demo trade is just to "test" EA while real trading using real money gives different result.. you just can't trade the same on demo compared to live even though they are the same amount of money(referring to yr hard earn money as initial investment)

Last year i Was using Instaforex but this year i switch to Interbank FX already.
Because I study from a website from US federal and stated there was a scam on Instaforex that's why i stop it immeadiately

Fully agree with your comment..here is my chat..i start restudy babypips earlier so now my result fly up.

From your statement, you are still far away from being a forex winner.

kthxbye

As far as I know there is no fix rate of "everyday must X amount of income" Instead sometimes NOT TRADING at all is part of trading. Give for example is like end of the year(just like now), pricing of FX is erratic, illogical, spread are generally higher too. Majority of the traders/ big guys are holiday mode. You probably more likely to be "profitable" (not losing) by being sidelines than actually trading.

Ya.. just like the market nowadays. mostly sleeping at day time and jump up n down during night..Sometime miss the boat.

MT4 is a very good platform for trading forex, the charting package are top notch and tons of customized indicators out there.

Right on the money. 500usd is only good enough to test the water so to speak. But if you're starting to think you could make serious money month in month out using 500usd as margin. Good luck! I have seen it done before by other traders but NOT profitable on monthly basis. The pressure to milk every last pips from the market will mess with your emotion and straying away from original trade setup. With 500usd you might need 1000pips/month to be profitable, but think, if you have 10000usd then maybe you need to make 200pips/month to be just as profitable. A much easier target right. Minus all the pressure. I'm sure lots of traders here can do 200pips/month but how many can trade 1000pips/month? You will just fall victim to overtrading. (I am speaking from experience here, overtrading is the biggest enemy of mine)

On demo trading, it serve it purpose to develop a winning edge. You have no business trading live unless you have an edge over the market. On the issue of using 10usd to start trading live, i see it as complete nonsense as 10usd is nothing to most people. They will fell no pain losing about RM30. But what if you trade 1000usd as a start? Now then its different story, you will take forex as serious business and not "play play" as they call it. You got to pay the tuition fee to the school of Hard Knock.

Merry Christmas and Happy New Year everyone!

thank you...
im noob in this area...so teach me...
mt4 safe or not?
i need an IB?

agree with marvinben..trading USD10 is nonsense... cause so far, never see a proven record such account would survive...theoretically..."can" only...don't dream la.

Here are some goodies i want to share..

Asset allocation report Rothschild December 2010

http://privatebankingandtrust.rothschild.c...mber%202010.pdf

Gold price chart in MYR.. gold traders bookmark it if u havent already.

http://www.xe.com/currencycharts/?from=XAU&to=MYR&view=1Y

Happy New Year everybody.

its not impossible with cent account.. if you still in the learning curve... 10usd =1000cent, so newbies can practice as if they have 1000usd.. last long and you can migrate to micro/standard (Instaforex only)


Happy New Year guys and gals.... may we have a good 2011 year..

This post has been edited by Sham903n: Dec 31 2010, 07:57 PM

have you done it? trading with USD 10? as i said earlier...."theorically" can only.

happy new yr!