$100 Spin up or Bust

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Old Sep 14, 2011, 5:17pm   #1
Joined Jan 2009
$100 Spin up or Bust

Return of JDTRADER

I'm back to trade Forex but got no real funds to trade Live but I'm not doing Demo trading as I've done that. So I looked for brokers of HIGH LEVERAGE 1:500 to 1:1000 not recommended but with a small Micro Account you can increase your account to get a foot on the Forex Live ladder.

I chose ********** with 1:1000 Leverage trading on MT4 with 0.01 Micro Lots, ok so not the best choice in hindsight I did not do enough Due Diligence as I was more focused on the 1:1000 leverage but I'll work with it for now.

Plan is to keep learning Forex and try to spin up my Micro Account to open ever bigger accounts as I go or BUST

Got back on the horse 6th Sept 2011 and you can view all my trades on MyFXBook link below plus you can also follow me on Twitter: @Cash_Card.

Has anyone else used ********** ?

My Review (So Far)
Demo
The Demo worked well all major pairs fixed spread at 3pips
No Re-quotes
On occasions execution was slow but in the main fast
4 digits on Demo

Live
5 digits on Live via Europe Server
Deposited $106 to get the bonus of $30
Plan was to deposit get bonus then withdraw working with the free $30 but run into commission issues. Cost me just over $3 to deposit and looks a nightmare to withdraw. I used Debit Card to deposit thinking I could withdraw back to card. Deposit was via Moneybookers but to withdraw via Moneybookers I need an acount. Bank Wire $25 or via PayPal

So I got $136 now on this account and I'll trade this rather than withdrawing (read the small print )

Seems to be a clash when switch from Live to Demo. On the Live acc I had no charts with history I had to download and when that didn't work I had to reinstall. Support was given by Skype which was fast and detailed, although they couldn't give me a reason why this happened.
I have used a LOT of MT4 platforms and this is the first time I ever encountered this problem. On reinstalling (Losing all my chart set ups on the Demo) the Live account worked fine expect NZD/USD. But the the same problem occurred on the Demo with some pairs having no chart history. I was able to download Archive.
Switch from Live to Demo I lose the 200 SMA ? odd even they don't know why.

Will update daily from now on but please stop by my blog once a week

Last edited by JDTRADER; Sep 14, 2011 at 8:11pm.
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Old Sep 14, 2011, 5:22pm   #2
Joined Jan 2009
6th Sept 2011

JDTRADER started this thread Week 1
Day 1

Well its not a good start.
Tons of re-quotes and excution is very slow

ECN/STP well if so needs to be speeded up.

Got onto Live Chat and they could not see a problem with my account but have passed my compliant to the Dealers. Thought they had no dealing desk ?

Only Day One so lets see how it goes +$ so far but fighting with the platform.

Open: $136.96
Close: $137.52
P/L +$0.56
+3.3 pips
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Old Sep 14, 2011, 5:27pm   #3
Joined Jan 2009
7th Sept 2011

JDTRADER started this thread Week 1
Day 2

Today just checked my bank account to see I got:

OVERSEAS TRANSACTION FEE £1.25 Deposit £64.89
OVERSEAS TRANSACTION FEE £1.25 Deposit £6.42

For two deposits !!

Deposit by Debit Card via Moneybookers

Bear in mind the account is in Dollars that is roughly $4.78

So to deposit $106.96 cost me just over $8 with the Moneybookers fee added in.

Got a $30 bonus for depositing over $100 but to withdraw the bonus you have to unlock by trading at least 90 full lots of 1.00. As this is a Micro account its going to take a while to unlock that. Today I got 0.32/90.00.

Dep $97.66
Dep $9.30
Bonus $30
Acc Bal. $136.96

Execution is spot on today but I did give Support a piece of my mind on Skype yesterday to the point they ignored me in the end lol

Plan is to get to $300to $500+ then withdraw and move on to another broker

Open: $137.52
Close: $143.42
P/L +$5.90
+33.9 pips
Total +37.2 pips

Last edited by JDTRADER; Sep 14, 2011 at 5:47pm.
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Old Sep 14, 2011, 5:31pm   #4
Joined Jan 2009
Thu 8th 2011

JDTRADER started this thread Week 1
Day 3

WAY TO MUCH MARGIN TO TRADE GOLD !!!!!

Open: $143.42
Close: $144.24
P/L +$0.82
-29.2 pips
Total +8 pips

Last edited by JDTRADER; Sep 14, 2011 at 5:50pm.
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Old Sep 14, 2011, 5:35pm   #5
Joined Jan 2009
Fri 9th Sept 2011

JDTRADER started this thread Week 1
Day 4

Open: $144.24
Close: $145.64
P/L +$1.40
+154.7 pips
Total +162.7 pips


Week 1
Open: $136.96
Close: $145.64
P/L +$8.68
+162.7 pips

Bonus Points needed: 90 / +0.55
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Old Sep 14, 2011, 5:38pm   #6
Joined Jan 2009
WEEK 2 Mon 12th Sept 2011

JDTRADER started this thread Week 2

TRADING GOLD AGAIN !!!!

Open: $145.64
Close: $161.08
P/L +$15.44
+73.3 pips
Total +236 pips
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Old Sep 14, 2011, 5:40pm   #7
Joined Jan 2009
Tue 13th Sept 2011

JDTRADER started this thread Week 2

6 trading days in first days loss

Open: $161.08
Close: $159.96
P/L -$1.12
-35 pips

Total +201 pips
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Old Sep 14, 2011, 5:42pm   #8
Joined Jan 2009
Wed 14th Sept 2011

JDTRADER started this thread Week 2

Open: $159.26
Close: $161.21
P/L +$1.25
+109.6 pips
Total +310.6 pips
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