QUOTE(poyo @ Dec 12 2006, 01:06 PM)
Hello guys. I have been reading thru this thread, a few threads at nogold.com, and been schoolin' myself up at babypips.com.
I do understand some of the basics, but I suppose I hafta finish up at babypips.com ( still at between 1st and 3rd Grade, heheh! ) before going for a demo account.
It seems that the most popular traders around here is : Northfinance ( NF ), Marketiva and InterbankFX. I am really dumb in Net moolah transactions, and I do not understand how to we take out our money from e-gold to our bank acc here in Malaysia?
By the way, I can't find Marketiva's demo account, only NF and InterbankFX. Which of these would be the best demo acc I should go for ( as I understand that having MetaTrader 4 is a plus, and Marketiva doesn't utilise MT4, rite? Only NF and InterbankFX rite? )
For those who have successfully trade a live acc for quite some time, how's the return like, especially for day traders ( as I do not want to take unnecessary risks, rather have small revenue daily rather having the risk of gaining more revenue at higher risks )? Maybe when I have enough understand on forex and how it works, I'll open up a mini acc woth USD 250.00 and later boosting it up to USD 500.0.
One of the stuffs I don't really get about these live accounts is, how does the leverage works? Thing like you got like, example :
Cash in acc : USD 1000.00
Commit for trading : USD 500.00 ( the rest left for the dreaded margin call? )
From the USD 500.00 committed for trading, how does the calculation works? 1 : 10? 1 : 100? 1 : 1000?
I read that there are online classes by local ppl here on forex, are they any good? Any recommendation? Reviews?
Leverage works like this.
Usually broker will ask you what leverage you wanna use. 1:100, 1:200 up to 1:500. Let's say you choose 1:100.
In Marketiva, 1 unit is USD 1. But because of leverage you can buy 100 units with USD 1.
If you buy 100 units, Marketiva will lock USD1 from your account. If the investment goes down to USD 99 in value, your position will be closed and you lose the USD1 Marketiva was holding.
Broker let you use their money to make profit, but never let you use their money when you are losing.
QUOTE(Quincy @ Dec 12 2006, 05:10 PM)
Dont know about the leverage thing, as im also trying to learn proper moneymanagement before opening live acc.
For marketiva, the live and demo are the same software.
There are other metatrader4 broker depending on the cost to open up an account.( I think the lowest is RealTrade?)
I think it depends on the broker about scalping. Some brokers do allow scalp trading (forgot which 1).
Isnt RealTrader based in Indonesia ?
QUOTE(poyo @ Dec 12 2006, 07:25 PM)
Ah! I really don't get this Meta4 platform! How to do buy and sell? Pening!
Just click on the currency pair on the left and enter your order.
Dec 11 2006, 03:46 PM
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