radex78

Forex is the biggest market in the world, forex is not a scam, however many people try to scam investors forex on their behalf with use forex as a way, forex scams could the scam broker, scam ea, scam fund managers, etc, so investing in forex should carefully to do.

Grateful FXOpen is a good broker, this company was awarded as best ECN broker in 2021 by IAFT, and as an innovative broker by Traders Union in 2022

Sometimes trading in the real account you find a hard time making a profit, back to a demo account is a good way to continue learning the market, because not all market conditions are easy to catch a profit, looking momentum trading is a way to increase profitability trading, and we can learn from demo ECN FXOpen

Recently in the TickTrader challenge contest announced the winner of the contest result and the winner gets a prize to the TickTrader account, there is 6 winner contest in the final result, and were able to fulfill all the conditions of the competition, TickTrader platform FXOpen designed for ECN broker where traders can trading multiple markets through one account.

The key success in forex trading is has profitable trading strategy, how to becomes profitable trader is not easy at all, it depends to the skill of traders, I see in the contest FTC 2023 forexcup.com the first rank accumulated profit more than 500%, meanwhile he ever god 600%, it is means result from trading is unstable, sometimes up and down like the chart itself. 

If you have good knowledge to become programmer, you can try to create many robots and backtest robots to find the best one, there are many crazy sellers in MQL5 sale robots with very expensive prices, I like manual trading so far, it is cheaper trading.

In daily trading with FXOpen, I still use MT4, despite the broker offer of MT5, however already comfortable using MT4, but currently, I also using the TickTrader platform, this is new platform designed for ECN broker, it is possible to get negative spread using TickTrader terminal.

Choosing a reliable and trusted broker in trading will be more comfortable, not all brokers are the same, choosing a broker by paying attention to trading conditions, reputable companies, review traders, trading platforms, payment supporting, contact support, etc. I choose FXOpen for this.

Bonus from a broker usually has certain rules and not all beginners easily can fulfill all rules to be eligible to withdraw a profit bonus, when beginners are interested to take a bonus with no deposit even in big numbers, better check and make sure the term and conditions are easy.

On 5/28/2023 at 8:25 PM, nanamage said:

Is trading news and scalping allowed at FXOpen? or banned?

FXOpen is a true ECN broker, trading news and scalping is okay, however, the risk trading news is the high volatility market brings higher risk too, I see many technical traders stay away from the market when news high impact.

You can use demo ECN FXOpen when beginners to learn to trade, however, if still blind at all about forex, it is better to learn basic forex, there are so many resources we can learn from the internet, babypips is the most popular site where many traders learn forex.

I like to trade on a pair EURUSD,  and other major pairs like GBPUSD, USDJPY, and more, trading on EURUSD often get zero spread in ECN account.

Beginners suggested using small leverage because of still unstable emotions, one loss trading could make a bigger loss because of emotion, which high leverage can lead the trader to be greedy. 

I like trading in the London market overlaps the New York market, the higher volatility can easily catch profit and loss. The spread also often gets zero if trading EURUSD. 

Practice in demo accounts could be useful if traders learn seriously, despite no emotional pressure, however trading in the demo is good for the backtesting trading strategy. 

Sometimes I still use demo ECN FXOpen to test a trading strategy, if we can treat the demo account like work in a real account, hence demo will give more benefit in the backtesting stage, although only work in the demo account, discipline is important in backtesting.

Scalping could be a profitable trading strategy if we understand how. This will get more benefit with choosing low spread broker like FXOpen, for scalping trading we can choose EURUSD, USDJPY, and GBPUSD, and working in a small timeframe, like M5, even we can use M1 to get detailed prices for the short term. 

13 hours ago, Harvey said:

First-time traders, just like any other beginner, learn how to start trading by looking at and changing many different types of indicators to find the best one,

Usually, beginners will learn like that, when facing one failure after practicing the use indicator or trading tool, then try another tool to get more accuracy, but after realizing if no perfect indicator, which here indicator only helps the tool, it makes minds just think simple, how to make trading more simple. 

15 hours ago, Namu said:

Analytical skills play a crucial role in our success in forex trading. 

Besides analytical skills also need strong psychology to run plan trading fully disciplined. Despite having good analysis, if in practice still, many times repeated the same mistake over and over again will be difficult to develop good performance.

There are so many brokers in the forex world, as long as the broker gives good service, trading conditions, fast withdrawal process, low spread, good customer support, trading platform option, and deposit withdrawn option, trading with its broker will be more comfortable. I not yet looking for another boker and still using FXOpen because all requirements I need are still there.

Despite in FXOpen providing more than 600 + tradable assets, however in trading, I only open several pairs like EURUSD, GBPUSD, XAUUSD, USDCAD, AUDUSD, EURJPY, USDJPY, and GTBPJPY, but in trading only choose one pair with maximum of two pair.

On 12/15/2022 at 8:25 PM, James Mcgrant said:

No, I prefer trading manually since EAs can be expensive and manual trading seems more profitable than EAs for me.

Indeed using ea need more cost, like hiring VPS, and if getting ea with buying ea also needs cost, sometimes seller crazy offer their ea with highly expensive, and yet not all ea can work with small capital. In manual trading, we can manage the risk-based own preference.

On 5/22/2023 at 4:18 PM, hastral45 said:

As a new beginner, you are not supposed to start live trading immediately. You should start on demo trading. With demo trading, you would be able to master your trading skills perfectly. Also, you would be able to know which strategies work effectively and efficiently for you rather than gamble with your funds. 

If you want to get a chance to obtain a free funding account in a real account, try to join a free demo contest at the TickTrader challenge, if able to become the winner at first place will get a real prize on TickTrader account $120. It is not easy to become the winner in a demo contest, however trying it out is free to join without any risk.

Trading with FXOpen, I also like to use scalping trading, choosing pair majors like EURUSD, AUDUSD, and USDJPY, when using TickTrader terminal platform it is possible to get negative spreads, for scalping this is an interesting platform and worthed to try, you can use demo account first to using TickTrader, besides available for PC, the platform also available for Android and IoS,

Yes, in nature forex trading is risky and included speculative investment, we can make a quick profit in trading, even when the good time only needs a few minutes to take a profit. However forex is also risky, we need a trading plan to manage the risk and capital as well.

I still use FXOpen and often trade forex by choosing major pairs, in the chart usually like to open multiple pairs and will look the pair with good average movement. Trading gold also has a low spread, but high volatility trading gold is risky if using a tight stop loss.