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  1. #1
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    When is the best time to open live account?

    Hello,

    Based from your journey as traders how long it took you to master like forex? When can you say that its time to open live account and invest your hard earned money?

    I need your helpful insights guys. I'm still confused if i will open live account or i still need to do demo in hy marets to practice more.

    Regards,
    Waterlily

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  3. #2
    Platinum Member Array Unclepips's Avatar
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    Quote Originally Posted by Waterlily View Post
    Hello,

    Based from your journey as traders how long it took you to master like forex? When can you say that its time to open live account and invest your hard earned money?

    I need your helpful insights guys. I'm still confused if i will open live account or i still need to do demo in hy marets to practice more.

    Regards,
    Waterlily
    Hi,

    I can just make up stuff of what I do or did to where I am now, but I won’t. Here is how I see it. Demo trading is just for you to learn how to use the products NOT necessarily learn how to trade. In order for anybody to learn how to trade for a living, you must understand the value of dollar or any other currency of your country. What do I mean by it? Demo accounts can be quite DECEIVING. Lots of time, you feel like you took all the good trades with demo. And of course, you wish it was a live account. But then once you opened the live account and transferred the fund in there, you began to trade and started losing bit by bit. Next thing you know, low and behold, they just took all your money. And then you told yourself you demo-ed the darned thing, you could have swore that you did the same thing as the demo account. I don’t think so! Demo account is for brokers to attract you as one of their pork-chops, lamb chops or beef kabobs, that’s it! NO BROKER WILL BE THERE TO HELP YOU, PERIOD. THEY’RE THERE TO MAKE SURE YOU LOSE AND TAKE YOUR MONEY. One has to remember that trading is a dog eats dog world. So when you trade somebody out there will try to out-trade you and take your money.

    So my suggestion, in order for anybody to properly learn how to trade, you have to test with LIVE account. There are lots of brokers out there that you can open with micro account ($25 to $50 etc…). This way you know the value of dollar is instead of go happy like demoing account.

    That’s all I have to say about that.

    Best regards,
    Unclepips

  4. #3
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    I agree with Unclepips. December is not the best month to begin trading with real money though. But it's a good time to set up. I have a "cent" account and love it. I can do a whole "lot" and it's same as 0.1 standard lots. You might like to check the Australian IBFX - they have lots of free indicators and training videos. The account type is called "mini". The advantage of the Australian over US is hedging is allowed and no FIFO encumberence.

  5. #4
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    When you have already practice enough with the demo account. You have learn the basic trading. You are able to minimize the lost during trading. Then it will be your best time to open a real account.

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    Thank you guys for your sharings, but after all you've said my worries are now about choosing a broker.

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    Quote Originally Posted by Edward25 View Post
    Thank you guys for your sharings, but after all you've said my worries are now about choosing a broker.
    To choose a broker:
    1. Open this site http://forex-ratings.com/
    2. Find as much as the review of the broker that want it.
    3. See the bonuses of the chosen broker. Make sure that the bonuses are real.
    4. The minimum deposit that the broker offer.

  8. #7
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    real account okryt better when the demo only +

  9. #8
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    To select a broker....

    Quote Originally Posted by lll View Post
    real account okryt better when the demo only +
    To select a broker, I would definitely recommend going for a broker that is authorized and regulated by a known regulatory body like FSA in the UK or NFA. Companies who are regulated by these regulatory bodies mean have passed the standards and requirements in order to operate as a broker.

    You should check the following when looking for a broker:
    1. Company History
    2. Regulated by a known regulatory board or not
    3. Company Size (with or without int'l offices)
    4. Languages offered
    5. Multiple trading platforms and products (in case later on you wanna trade other products in one integrated platform)

    It's also helps to make sure that your chosen broker provides you with client money protection policy. My broker HY Markets has this privilege so I trust that my investment is safe with them. This means that your funds and other assets will be segregated from HY Markets' own money and will not be available to us for use in the course of our business.

    Good luck with your search!

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    I think that it is very important question.In every new trader have to face the question as like me. At first I have operate a demo account for two months long .When I feel confidence to trade , then i can open a live account.It is good idea.

  11. #10
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    It depend on ourselves.. If we are ready to trade with live account, we can open live account, if we are not ready, there is nothing wrong if we try trading with a real account, but do not make a deposit with a large nominal...

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