some computer setups are crazy, I guess its for people who really make a career out of trading forex, mostly they monitor more than one pair to look for movement that might affect other pairs and so on, i have seen some setups that involves not just monitors but they actually use smart flat tv screens LOL but i dont think i can afford that! im good with 17 inch monitor and cellphone as well maybe a tablet at times
Pamm is good option but my advice is do not let trade someone with your money. I personally believe to trade as a individual trader instead of Pamm.
When are you people going to learn that leverage has nothing to do with risk? I can trade with a 500:1 leverage account and still risk only 2% of my capital on each trade. 500 to 1 leverage simply means that your broker will allow you to buy (or short) 500 units of something with only 1 unit "faith deposit", it does not say anything about the percentage of trading capital you can allocate to each trade. YOU control this percentage, regardless of leverage used.
I trade with hotforex at 1:100 leverage and find it quite comfortable for me. I really do not recommend to trade with larger leverage, because it becomes more difficult to handle a risk.
yeah for starters low leverage is the best thing to do, though i trade on a 1:500 leverage but with a smaller ac count If i do go for a higher deposit i might consider lower my leverage to 1:200 or maybe 1:100 its safe and im in no rush
this broker was recommended to me by a fellow trader, im kinda new, is there anything i should look out for as a new trader?
Agreed but same goes for any body trading forex... Rigged unregulated markets with "broker" more often then not acting as counter-party. All sorts of scams going on in those "brokers". CME futures on forex are a viable instrument and better alternative.