just started

[raymcc]

Hi All, trying to gain as much information as possible. Due to available capital I think I will have to trade micro Forex to begin with. I intend to paper trade initially, could anyone advise me on which platform to use.
regards,
Raymcc

 

[Rhody Trader]

Oanda is one of, if not the, most flexible platform for small capital accounts because it has no fixed lots or minimum trade sizes. You can literally trade 1 EUR, USD, GBP, or whatever.

 

[BJ21]

+1 for Oanda.

If you can ....Use real money but very small amounts
Dont put all the money you have in the account .... 1/ 2 it (or less) and start with that .... forget paper trading .....
I really dont believe people should start with a demo. You will teach yourself a lot quicker with real money .....

 

[HawkTrader]

If you can ....Use real money but very small amounts
Dont put all the money you have in the account .... 1/ 2 it (or less) and start with that .... forget paper trading .....
I really dont believe people should start with a demo. You will teach yourself a lot quicker with real money .....

True, demo trading isn't the same as trading for real money. But I'd still demo trade as you learn how to place orders, what the different order types do, and also test any new methods you come up with...

 

[raymcc]

Oanda is one of, if not the, most flexible platform for small capital accounts because it has no fixed lots or minimum trade sizes. You can literally trade 1 EUR, USD, GBP, or whatever.

Many thanks for your advice. I will look into Oanda.

 

[raymcc]

+1 for Oanda.

If you can ....Use real money but very small amounts
Dont put all the money you have in the account .... 1/ 2 it (or less) and start with that .... forget paper trading .....
I really dont believe people should start with a demo. You will teach yourself a lot quicker with real money .....

Thanks for getting back to me. I am interested in your thoughts re paper trading. Do you really feel for a complete beginner it has no merit or is it so far removed from the real thing that it is pointless.

 

[raymcc]

True, demo trading isn't the same as trading for real money. But I'd still demo trade as you learn how to place orders, what the different order types do, and also test any new methods you come up with...

Thanks for the reply. still confused regarding paper trading, but apppreciate what your saying abouit at least learning the mechanics of trading.

 

[Xeno]

Thanks for the reply. still confused regarding paper trading, but apppreciate what your saying abouit at least learning the mechanics of trading.

I would paper trade until you feel really comfortable with the mechanics of trading and the platform (and of course to test out new strategies)

I'm also someone who likes learning with real money, but that won't be for everyone either. It really depends on your psychological makeup. I knew I would learn faster and be motivated more with real money. Of course, learn about money management first.