Your Questions About Forex Demo Account
November 3, 2011 by Forex Guide
Filed under Forex Account
Donald asks…
help me find a forex broker with unlimited demo account (no time limit).?
i am looking for a forex broker that has a platform i can demo with all of the following:
- real time charting
- demo does not expire
- global indices are available to watch, hang seng, nikkei, all ordinaries, dax, etc etc
- futures is a plus
thanks for your help!
Forex Guide answers:
Marketiva is your choice.
They have a free demo account and they also give you 5$ real to start trading, they do not have minimum deposit, they do not have overnight fees and they have fixed leverage
To open an account and get 5$ free, go to: http://www.marketiva.com/index.ncre?gid=3371
David asks…
Has anyone opened a real live FOREX account?
I am currently placing trades on a demo account that has gone up from the virtual $50,000 to $107,739.00 in a little over a week. Are the demo or practice account set up to make more profit to convince someone that it works or are they just like the real account only I’m placing trades on virtual money?
Forex Guide answers:
Nice gains for a little over a week’s worth of trading! However, don’t jump the gun and risk real money just yet.
First, you need to demo trade at least several more months (yep, months). How do you know you weren’t just “lucky” during this first week of trading?
It takes at least several months of consistent (albeit fake) profits to determine if your trading strategy really works.
Second, although a demo account comes close to duplicating “reality”, it is not reality. Demo accounts do not consider things like slippage, which definitely impacts the effectiveness of any trading strategy.
So even after several months of successfully generating consistent profits from your demo trading account, and you feel you’re ready to start trading live money, don’t jump whole-heartedly by risking all your precious capital.
Start off by trading a live *micro-lot* account. This way, you’re risking only pennies instead of dollars. Again, allow several months of trading on this micro account to ensure your trading strategy is still profitable.
Only after several months of consistent profits on a live micro account can you consider risking more capital.
As with any other type of investing, forex trading follows the same basic rules:
Low Returns = Low Risk, High Returns = High Risk
Many traders get so caught up with the “high returns” from forex trading, they seem to forget the “high risk”. As a result, many lose their shirt because they risked too much money.
To truly be successful as a forex trader, you must approach it very conservatively. Use proper money management. Don’t risk too much.
Go for small, consistent returns over the long haul…not the “make it or break it” big win (that’s called gambling).
Just like the turtle, slow and steady wins the race.
Good luck!
Carol asks…
Where can i open a stock market demo account?
I do NOT want a FOREX / Foreign Exchange Trading account, I want to demo trading company stocks, but all the software I find is forex only
Forex Guide answers:
VSE.marketwatch.com is a division of the Wall Street Journal.
Investingexperience.com offers a game geared toward people who want practice as day traders. Others include wallstreetsurvivor.com, stocktrak.com and simulator.investopedia.com.
I use MSN Caps for keeping track of stocks for different reasons. This is run by the Motley Fool. It tracks companies with just a single stock purchase price when chosen (do your own math), but there is much more to it (and the others above) than can be told here. They also keep running accounts of Top Ten stocks (daily/30 days – good/bad). There is a ton of detailed useful information available.
Mark asks…
Am I ready for a live forex account?
I’ve been collecting approximately 600 pips per month on a demo account? Should I practice beyond the 6 months I’ve been doing this or more to a live account?
Forex Guide answers:
Yes, you are ready for a live micro account.
Mary asks…
Does anyone know of a good forex simulator, one that will speed up the learning process?
Tired of the tedium of forex demo accounts. Need quicker way to reinforce pattern recogniztion skills.
Forex Guide answers:
The only way to speed up recognition skills is by looking at tons and tons of charts. Look at all different time frames and examine them and look for trading ideas. The speed of the demo platform has nothing to do with how fast you will learn. Trading on the demo is way different then live trading. Start small.
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Your Questions About Free Forex Demo
October 11, 2011 by Forex Guide
Filed under Forex Account
Richard asks…
Can you help me find a FOREX software?
Guys, I am very interested in entering Foreign exchange trading. I believe there is big time money in that. I am very keen to learn how FOREX trading is done and stuff. I believe there are companies which are selling software’s which act as GUIDES and tell you when to buy or sell a currency. I saw ads of such software producing companies on TV and was much impressed. thye were also giving free demos in near by cities, but I missed out…) Could you pls let me know how I can find a company which sells this kind of software along with other training stuff????
Forex Guide answers:
LOL, you don’t need software, you need to spend a little of your precious time doing your own research on investopedia and other sites learning about that market and how it works.
Most of those software presentations are scams – they use indicators that you can easily get from any basic trade station.
Dude, there are no shortcuts to the marketplace, if there were then there would be no losers and only winners – an impossibility.
After doing a little research on your own if you have questions, my door is open most of the time. I’ve been trading FX for a couple of yrs.
David asks…
Global broker for forex recommend: FXCM?
Hi,
I am on the road a lot – travelling between the UK, Canada and USA. My base for now, is the UK, but I may move back home to Canada in a year.
Looking to get into starting trading in Forex – is FXCM a good broker for someone in my situation? I have tried their free demo and am satisfied. If I decide to go back to Canada, will it be much of a transition with this broker? they seem stable, and I would like to not have to switch brokers just for the reason of moving.
Thanks,
Forex Guide answers:
FXCM is great broker that has been doing this business for years. And if you are travelling a lot, FXCM is definitely one of the best choice for you to partnering with.
John asks…
I want to learn forex?
my problem is I can’t use any of these free demos online.
I’m not an idiot but I can’t understand them. I don’t know if I’m making money or if I’m losing money. It is getting very frustrating because I want to start learning ASAP, but most the online resources are crap. I prefer taking classes, and I haven’t even found 1 in all of toronto. Everytime I try to search on google all these sites come with a bunch of scam artists trying to sell their program or online classes about how to make money. I don’t want to learn how to make money, I want to learn how to use the freakin platforms, I’ll come up with my own strategy.
Btw I’m already pretty good with stocks, it’s just that the market is horrible right now, and you need a bigger initial investment in stocks to make any decent money
Forex Guide answers:
Http://www.forex.com/learn.html
Good Luck. It is not as easy as people think. 
Carol asks…
stock market charting software?
I am looking for some basic software for my computer that I can download for free without a demo. Just something with charts that I can look at. No forex or other international markets. I have tried MTI trader and Bloomberg, but they all are demos and require money. Please help me out!
Forex Guide answers:
Http://www.freestockcharts.com/
Helen asks…
Is the following email “out of order”? I do not think I should receive advertisements in this way!?
Hello Crispy bacon and eggs
From: vanmiller j
Subject: yahoo anwsers
Message:
Hello,
I was looking around on yahoo anwsers and I might have something for you where you can invest in.
It’s a software that has been developped by experienced forex traders.
It brings a intrest of 15% each month!
If you want you can test it out, I have started up a demo wich you can follow as long as you want to.
For more information feel free to contact me at joeyvanmiller@gmail.com
To continue the conversation, click this link:
Reply To This Message
Thanks for using Yahoo! Answers.
You received this email because you are opted in to receive communications from others through Yahoo! Answers Messaging.
I have abridged the email slightly to make it somewhat easier to read
Forex Guide answers:
Sounds like spam to me, report it if you are not comfortable
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Tips On How To Avoid – Forex Trading Scam
December 27, 2010 by Forex Guide
Filed under Forex Trading
Forex trading scam is something that ought to be avoided if you are contemplating to begin a career in foreign exchange trading. Due to the increasing recognition of forex trading, scammers also tend to rise in number. They are around to victimize people who are seriously wishing to increase their monetary condition via forex trading. Because of the increasing variety of scammers at present, it really is essential for you to take extreme caution prior to joining the forex market. Ensure that you just by no means fall victim into the hands of these terrible and risky scammers.
In order for you to steer clear of scammers, it really is critical that you simply educate yourself inside the field of forex trading prior to joining the marketplace. You also need to remain away from these foreign exchange firms who claim that they have established a trading technique that does not demand you to risk something. Bear in mind that even if the forex market promises a huge return on investments, it nonetheless bears a huge quantity of danger. You’re nonetheless required to a minimum of take an effort and make sacrifices prior to it is possible to be very profitable. Due to this, you’ve to be very careful of those firms that provide riskless forex trading. Riskless forex trading is really far from reality and there is an enormous tendency that those who give you this are just following your money.
You ought to also begin to become suspicious when a firm promises huge quantity of income in forex trading overnight. These promises may only be developed to trick you. You’ve got to keep in mind that these claims are very far from reality. Even professional forex traders usually do not usually have a guarantee that they’ll turn into profitable in any certain day. The forex marketplace is somewhat unpredictable. It may very well be a bit challenging to predict its trends. Because of this, it’s essential for you to avoid those that promise to make you rich from forex trading overnight.
Forex trading provides opportunities for larger profitability. However, you cannot anticipate to obtain this profitability in case you usually do not take extreme caution in all you decisions. You’ve got to be extremely diligent and careful in order for you personally to avoid all perils connected towards the forex market. Forex Trading Scam may also be avoided if you continuously physical exercise caution and diligence although becoming in the forex marketplace.
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Forex Magic Machine’s 3 Advantageous Features
September 17, 2010 by Forex Guide
Filed under Forex Book
Whether you have started looking in to Foreign exchange trading or you are an experienced forex trader, you have probably heard about forex magic machine which is a number one forex robot in the market right now. You also probably know that there’s six categories that Forex magic machine is meant to excel in: profitability, reliability and support. What you certainly don’t know is whether these claims are legitimate or not. Let’s take a closer look and find out.
Profitability – Forex magic machine was developed and tested over the coursework of six years. It is reported to have over 93% of forecast accuracy. That level of precision may appear excessive, but the precision of this program is not: the key to Foreign exchange trading success is being able to exactly predict where the market is going, and the ability to win 19 out of every 20 trades is nothing to scoff at.
Reliability – The perennial scourge of automated Foreign exchange trading programs such as Forex magic machine is the nature of the Foreign exchange market itself. It is not static financial surroundings: it is in a constant state of flux, ever changing, and this means that Foreign exchange robots developed with positive market assumptions in mind will quickly become obsolete and irrelevant as market conditions shift beyond their expectations. However, this program may show to be the solution to this eternal dilemma: its advanced Market Adapting Intelligence, while yet to be fully tested, can learning as the market changes, ensuring that this Foreign exchange robot will always be able to make money irrespective of market conditions.
This ability seems magical, but past and present market conditions can nevertheless be analyzed to produce a coherent picture of the future market – it is what professional Foreign exchange traders do on a regular basis, albeit on a much smaller and fuzzier scale – and RCTPA elevates this to the level of an electronic crystal ball, giving Forex magic machine a decisive advantage in the Foreign exchange market.
Support – Foreign exchange trading comes with a steep learning curve, which Foreign exchange robots are supposed to ameliorate. Regrettably, plenty of Foreign exchange robots have their own steep learning curves: byzantine installation instructions, unintuitive interfaces and poor customer support leave some would-be traders feeling like they would be better served leaping in the deep finish on their own. Not so with Forex magic machine. Not only does it have numerous support channels, all top-notch, but installation is rapid and simple, and the program is designed with user friendliness in mind.
Sure, the decision is yours, but keep an eye on Forex magic machine: the true extent of its vaunted ability to revolutionize Foreign exchange trading has yet to be seen, but for the time being, it is difficult to discover a more reliable piece of Foreign exchange program.
So, start trading with forex magic machine now and become a successful forex trader.
Please before you launch your real forex trading – make sure to get proper education about the realities of the forex trading market.
Or (alternatively) you can use managed forex trading service where other forex traders will take care of managing the trading process on the currency exchange market.
Automated Currency Trading – 4 Benefits
June 9, 2010 by Forex Guide
Filed under Forex Trading
In the world of Forex trade, the concept of automating foreign exchange trading is becoming a new trend that a lot of people are looking into. Exchange-traded futures are the first group to seriously consider automated transactions. Also the Interbank spot FX market has decided to use the automated method as well. Why exactly are these groups looking to it? Let’s take a closer look at automatic forex and see if we can figure out why. forex broker
1) Real-time Transactions: One of the reasons it has begun to become successful is because transactions can be conducted in real time. With manual systems it is very difficult to achieve this advantage that is offered by automated Forex systems. A lot of trades happen within milliseconds and this can be a huge push for auto transactions versus manual. A few other problems that can be greatly helped or avoided with auto Forex trading include when a trader is away from their desk or if they have had several losses in a row that hinders them from making new trades for a while. Both of these can be greatly helped by using auto trade as opposed to manual. forex broker
2) Greater Diversification: Having better options in regards to diversification can be an advantage when it comes to automatic transactions. This means that a single trader can trade in different markets in different time zones at once. This also allows them the option of multiple exchange models. Another great advantage when it comes to this advanced trading system is having models to analyze short-term data. An option that is not available in any other way. This therefore can help give those using this system a bigger advantage over other traders. This means they can then predict in as short a period of times as fifteen minutes to half an hour. This once again helps you out in trading in different markets at different times.
3) Greater Liquidity: Auto foreign exchange can also give traders more liquidity. This was discovered when futures exchanges had a huge rise in trades after they started using the programmed system. With all the advantages to this modern system, are there are any problems we need to look at? In fact there are. One of these problem areas is that some people are worried that the orders will increase too much if everyone adopts this automatic system. This can cause problems with lack of bandwidth or engine capacity trying to process all these trades in real time, though there are already people looking into how to avoid this problem before it happens.
4) Risk management: Another problem area for the auto system is risk management. There is always the consideration of checks having to be made when trades are being made. These checks need to happen in an environment where everything is properly synchronized. This is a technical problem and can be resolved when technology improves. Besides these two problems, there seems to be a lot more advantages, than disadvantages. This makes auto transactions the best option for most if not all Forex traders.
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