I said i wouldn't reply to this thread again, but there is utter confusion on the part of certain participants, so i aim to just help them out by clearing that up.
first of all 2 months is just a generic amount of time to test YOURSELF not a system, the point of demo trading is not to grow the account, it is to make sure that you can maintain a consistent trading habit. most people change their trading method after 2 or 3 losers, and if they don't understand the importance of consistency in their trading they will lose all there money. Once you have decided which system you are going to use you must then trade that system for at least 30 trades, those 30 trades will tell you 2 very important things, first that you are qualified to even attempt Forex trading on a live account, and secondly whether your system is actually profitable or not over a sustained period of time.
Providing that YOU and your SYSTEM pass that first test, i recommend to all of my students to then move to a micro account and trade real money in the live market.... but the tiny amounts will keep your risk at as good as nothing.
Then as you gain more confidence and cement your position as a consistent trader, you can move up to mini accounts, and finally standard accounts.
If you follow the risk management techniques that i teach in the course, you will almost certainly not blow your account up.... in fact it will be really hard to do so, and there are a couple of exercises that you can do to test that theory out for yourself (again all in the course)..... In case you haven't read the course i basically suggest you trade at 1 MINI lot for every $5000 in your account or 1 MICRO lot for every $500.... this equates to leverage of around 2:1..... most new traders are trying to use 100:1 or higher and wondering why they keep blowing their accounts up.
....that is not my website, and it is not my fund, i am simply a trader for that Fund.... i am not advertising that in any way, because i only trade for qualified investors, and have a network already established for this. And If you did phone Hong Kong, you wouldn't get me, or my mum, you would get the Admin staff of the Fund, also i am not the only trader working for that fund, i am one of several.
So whether you think that is a scam or not is irrelevant, and no reflection on me or my own personal projects.
And finally about brokers:
We are planning to have an independent review section on as many Forex brokers as possible, where traders can put their own reviews and we will post them, with no agenda
or preference.
I do think its vital to know how to spot a good broker etc.... and know the difference between an ECN and a Retail broker for example.
The reason i haven't included any mention of brokers yet is because i want to be careful about appearing to favour one over another.
But all the nonsense about them hunting your stops and whatever else you think they do is just not true unfortunately, i know and deal with people who work in brokerage houses, and when you understand how they operate you will understand how this kind of behaviour is just not in their interests.... in the near future i may be able to actually get one of these guys to come into a live Webinar and explain some of these concepts and also answer any questions that traders in our community may have about all of those things etc.... so that could be interesting for a lot of people.
And about your broker being the most crucial aspect of trading...... i would say the most crucial aspect of trading is your psychology, and the ability to keep your risk small and remain consistent in your approach. Finding a system that makes money is actually easy, you can make one yourself!, the hard part is sticking to it.
I put great emphasis on that in my blogs, and also about the expectations that traders have, so i recommend that you subscribe to those via the RSS feed.... because i really try and give everyone the correct viewpoint of trading and how to become a profitable trader in the long run.
Hope this has cleared a few things up.
