successful and educated practice trader - scared to enter live trading

[Tarhini_Trade]

hi, let me start by saying this may be my first post, but in no way means i don't read and search around these forums. i have found this site to be a great tool in my learning process. so far i have read a few books on trading, learned the basics of technical and fundamental trading, and have back tested them in practice accounts and have been successful so far tripling my principal within a few weeks of trading. i don't think im some sort of bad ass in anyway, and want to learn and practice even more before i open a live account...but that is not why i am worried or scared...i am scared of the broker.

i've been reading and searching reviews for weeks and can't seem to find a broker that has mainly good reviews. my MAIN concern is the whole ECN v. dealing desk/money maker thing. i definitely don't want my broker betting against me. along with that i just want a US regulated, high capital backed broker with a good platform that can be trusted not to manipulate prices and mess with my stops/limits, as i hear happens. ive been using forex.com for their practice account but have heard many bad things about them since, so i doubt ill use them live.

focus: what brokers meet the expectations i listed earlier and (only if you have a live account) what broker do you personally use, and how successful have you been with them

(i plan on trading mini and opening an account w/USD 500-1000)

 

[adamscj]

hi, let me start by saying this may be my first post, but in no way means i don't read and search around these forums. i have found this site to be a great tool in my learning process. so far i have read a few books on trading, learned the basics of technical and fundamental trading, and have back tested them in practice accounts and have been successful so far tripling my principal within a few weeks of trading. i don't think im some sort of bad ass in anyway, and want to learn and practice even more before i open a live account...but that is not why i am worried or scared...i am scared of the broker.

i've been reading and searching reviews for weeks and can't seem to find a broker that has mainly good reviews. my MAIN concern is the whole ECN v. dealing desk/money maker thing. i definitely don't want my broker betting against me. along with that i just want a US regulated, high capital backed broker with a good platform that can be trusted not to manipulate prices and mess with my stops/limits, as i hear happens. ive been using forex.com for their practice account but have heard many bad things about them since, so i doubt ill use them live.

focus: what brokers meet the expectations i listed earlier and (only if you have a live account) what broker do you personally use, and how successful have you been with them

(i plan on trading mini and opening an account w/USD 500-1000)

Just my personal view, but if you're going to trade mini FX, your initial capital is way too low. If you've tripled your practice account in a few weeks then either you've got a kick-ass strategy or you're taking on too much risk. I would recommend starting with at least $10,000 if you want to trade minis, although others will have their own view.

For what it's worth, I trade with GAIN (same as forex.com) and have had no great issue with them

 

[Tarhini_Trade]

thanks for the reply, and you're correct, as far as my practice account I started with 1k, like i would live, thing is i definitely am in high risk in most trades, but i believe in my position and exit if i dont see it going well. I would love to discuss strategy/risk/ect. but would like to focus on brokers in this thread. thanks

 

[Rhody Trader]

If you want to start that small, go with Oanda. They have no fixed lots, so you can trade any size you want - even 1 unit. You'll also not hear much bad about them aside from the occassional wish that their charting package was better. Give them a look. Their demo accounts have an unlimited duration.

 

[Tarhini_Trade]

thanks...anyone else? what platform do you guys personally use for live accounts?

 

[Tarhini_Trade]

bump?

 

[Adamus]

i'd recommend IB if you didn't specify mini-accounts. What bad stuff did you hear about oanda? i heard loads of stuff on their forums, they seem to be mostly harmless.

 

[everyonerich]

hi, let me start by saying this may be my first post, but in no way means i don't read and search around these forums. i have found this site to be a great tool in my learning process. so far i have read a few books on trading, learned the basics of technical and fundamental trading, and have back tested them in practice accounts and have been successful so far tripling my principal within a few weeks of trading. i don't think im some sort of bad ass in anyway, and want to learn and practice even more before i open a live account...but that is not why i am worried or scared...i am scared of the broker.

i've been reading and searching reviews for weeks and can't seem to find a broker that has mainly good reviews. my MAIN concern is the whole ECN v. dealing desk/money maker thing. i definitely don't want my broker betting against me. along with that i just want a US regulated, high capital backed broker with a good platform that can be trusted not to manipulate prices and mess with my stops/limits, as i hear happens. ive been using forex.com for their practice account but have heard many bad things about them since, so i doubt ill use them live.

focus: what brokers meet the expectations i listed earlier and (only if you have a live account) what broker do you personally use, and how successful have you been with them

(i plan on trading mini and opening an account w/USD 500-1000)

if you really want to trade the TRUE FX market, need at least 300k as minimum deposit and you'll have direct currenex access... unfortunately i dont think 99% of the retail trader can do that