use the search function on the upper right corner and enter the words --fxcm--shading--stop running--platform freezing. fxcm is a bucketshop, meanin' it takes each and every opposite side of your trades, especially if u are a noob. u do understand this way there's a huge conflict of interests highly detrimental to your tradin'. fxcm has a notable history of shady practices against its clients, like stop runnin' and platform freezin' for long periods, especially durin'/after news releases. oanda is dealin' desk also and falls by default in the category of bucketshops but apparently it's a honest broker and it's reflected in their costumers feedbacks in various sites. they seem to be fair and can be trusted...this could be for the simple reason they hedge your trades in the mkt thus eliminatin' the biggest conflict of interests. besides, oanda is happy to profit only from the spread and is not doin' his best to make sure u blow up your acct. i dont trade fx but i traded equities and binary options trough cfds and it's the same model..dealin' desk takin' the other side of your trades and my experience was absolutely atrocious. many complaints have been directed at fxcm in this very site, again, use the search function and inform uself before openin' an acct with 'em.
10 minis = 10 bucks a pip @ 15 pips NET difference in your favor = 150 bucks (buy at ask ...sell at bid..the chart only shows one of those prices) You used 250 bucks of your 2k in this trade. Now your position value on 10 minis is roughly 127,110.00...you divide that into 2k...and you get 63:1 leverage. Being a programmer you will have no trouble putting some simple formula's in an Excel spreadsheet. I buy 10 (lots) (100,000) EURUSD on 1.2915, get out at 1.2925
You know fellah's I have now traded with FXCM for 1 month. Guess what? They are larger....there are more comments on the Boards....(we remember the horror stories and I am not suggesting they are lies, but when we read we remember certain things more clearly). There are some negative comments about every dealer on the boards and about the Wild West of Retail Spot Forex too! but I am going to tell you the Gods truth. I have not seen any of these shady practices YET on FXCM. But I am the kind of idiot that needs to find out things for himself. I need to tighten each nut on the bolt. Interactive Brokers is a sponsor here too...And this is free speech...do you see me deleting negative IB posts? no ...you are free to talk about your horror stories...and the moderators in ET stay as far away from editing content as we can. I am telling you the truth and not because I am a moderator or have an agenda to promote a sponsor...I have only been with FXCM for a month. I am a trader the same as all of you and only post what I feel can be helpful. Be advised that when I became a moderator three months ago all my posts beginning with three years ago got changed with the moderator title under the name...you can understand I was not a moderator at the time of those posts Michael B.
Steve, the demo trading account is very important. You can observe the results of placing buy and sell orders and the price changes using the demo account. You might also find that simple trading rules can work. It might be wise to keep a notebook of different ideas that you are testing. You can examine your notes later and check the results of your ideas. You might want to search EliteTrader for trading methods and risk management. Lots of good ideas are written in this website. There is also trade system development software. Some software is described at EliteTrader. This software may be used to test different trading ideas using historical price data.
It's 9:22AM in Tokyo. Bookmark this website and buy this book. No more dumb questions after midnight tonight, so get them all in buddy! http://www.dailyfx.com/ http://www.amazon.com/Day-Trading-C..._bbs_sr_1/103-6272340-3805462?ie=UTF8&s=books
Thank you dude, I was waiting on a statement like that. Never fails.... I will read books before posting another question. Sorry you had to waste your time with answering me... Have a great trading day.