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View Full Version : FX mirco account is better than demo account.



fkh3100
07-16-2010, 03:42 AM
Those who plan to set up account,

I recommend that you set up mirco account rather than demo account.

You can put $10 , this convert to 1000 cts.

You can pretend you have 1000 dollars ,and learn how to trade, which strategy is better.

If you can make 5000 cts from this, then your strategy is good .

and set up standard account and put $1000 , and trade using own method.

Better than demo account .

chinexex
07-16-2010, 11:14 PM
great idea!

caution for newbies.
that way, you avoid much risk and learn to trade with little money.

NOTE: when you trade successfully with that little amount then you are ready to trade big with your proven and tested strategy.

fkh3100
07-17-2010, 12:37 AM
Thanks for agreeing with me.

You can organise a group of people under you, train them to set up micro accounts, show them how to trade.
(FXopen will benefit because more money will flow to them, you will benefit because you get commission for people signing up mirco account under you.)


Do you know in my country Singapore, there are forex trainers who organise training seminars, urging people to set up standard account and deposit US$1000 and above?

More people lose more because they has little knowledge of trading.

Demo account is not realistic.

People must learn how to set up account and deposit $10, $20 and learn how to deal with emotion,etc.





great idea!

caution for newbies.
that way, you avoid much risk and learn to trade with little money.

NOTE: when you trade successfully with that little amount then you are ready to trade big with your proven and tested strategy.

China Wombat
07-22-2010, 04:11 AM
If you really want to trade for a living then avoid micro-accounts as the learning platform, and just demo, demo, and demo, and then demo some more until you're consistently profitable for 3 months in a row, (assuming you're trading everyday, if you're trading less frequently then make it 6 or even 12 months of demo showing consistent profits).

Set up demo account on the 'real' amount of money you expect to invest. If it's 5k, 20k, 50k or whatever then just set the demo amount for this. Make it realistic. A 1.0 Mio US$ account isn't realistic to start with.

The reason why micro-accounts are pointless to learn FX trading is simply because the amounts are too small to matter. It becomes a gamble. How many micro-account guys have blown up their accounts, and to joke about it on this forum. To put 50$ into an account and expect to derive a nice primary income, or a comfortable second income is crazy.That's the sort of money you take to the horse races or casino.

It's worthless as a learning tool as well. For those who say, you need to invest small amount of real money to get used to feeling wins and losses is rubbish. If you burn a few accounts then your confidence is going to be shot.

It's less damaging pyschological to demo. It has great practical purposes for testing strategies. If you test your strategies with real money, and you lose it all, what has that done for you. When you are winning more pips than losing over a large period of time then you can start to fund your account with real money.

If you think that 12 months is too long to demo, then your trdaing capital will be gone in less than 1 month. Then what happens? You have to go back to work for that idiot boss, grind away the hours, to build up your next capital account. Why is there a rush to want to lose money so early, as small as it is?

So please, if you're newbie, demo for at least 12 months with a realistic deposit. Something that is a serious number you can afford to trade with, and will hurt you should you lose a good chunk of it. If you burn through 1, 2 or more demo's accounts on your journey, it doesn';t matter provided that you're learning something.

Then one day, as you start you're next demo account, you'll find that instead of it depleting, it starts to actually increase. It then keeps on increasing. You have a trading methodology that you're now confident with, and you pull the trigger to get into trades effortlessly as you have already found out what didn't work for you via you're previous failed demo's.

Shortly after this, you fund your account with real money, and with no hesitation, you can pull the trigger with real money, easily, knowing that you have a solid system behind you, that there will be wins, and losses, but overall you'll have consistent pips each and every month. Then you can tell that boss to stick his job where the sun doesn't shine.

If you're looking for some quick and easy light enetertainment for a few bucks, then use a micro-account, but if you're here for the long haul, and the financial freedom that it gives you, then demo, demo,demo,demo...and demo!!

fkh3100
07-23-2010, 08:30 AM
Demo account is for people who know nothing about forex. They can try demo for understanding of basic.

Those who know forex trading, can try mirco and put USD 10, and this convert to 1,000 cents. This is better and realistic than demo.

When you set up a forex seminar online group for those who have learn forex thru demo for sometimes, you can encourage them to open mirco account and deposit USD 10. and give them signal and tips, for them to follow.

This is what I came across in Facebook group.

One trainer from Singapore organise seminar class to the intermediate level people who know how to trade but don't know how to spot trend which enabled them to make a big profit.. He encourage them to put USD 1000 and above.

If experienced traders want to train people, he should encourage them to open a mirco account , and show them how to deposit USD 10 , then they learn how to manage things realistically.

jemmy
07-24-2010, 06:20 AM
in my opinion, emotion control is more important than analysis ability..trading demo lack of emotion involve, maybe only few people could pretend that demo is real money and trade with emotion, the rest just hit buy or sell then could be profit/loss 100% in 1 hour..i am agree that micro is better than demo.

China Wombat
07-25-2010, 01:33 PM
Demo account is for people who know nothing about forex. They can try demo for understanding of basic. Wrong. A lot of experienced traders use demo's to try out new ideas, and have a record of their trades via one of the web recording sites. Only a fool would try out a new idea with real money.

Those who know forex trading, can try mirco and put USD 10, and this convert to 1,000 cents. This is better and realistic than demo. A 10$ account is not at all realistic. If you 'know forex' you do not need to open a 1000 cent account.

When you set up a forex seminar online group for those who have learn forex thru demo for sometimes, you can encourage them to open mirco account and deposit USD 10. and give them signal and tips, for them to follow. Exactly why would this be of benefit?

This is what I came across in Facebook group. Ah, facebook, that well known portal for successful fx traders...

One trainer from Singapore organise seminar class to the intermediate level people who know how to trade but don't know how to spot trend which enabled them to make a big profit.. He encourage them to put USD 1000 and above.

If you know how to trade, but don't know how to spot a trend, then you don't know how to trade. Simple.

A real teacher would never ask his students to put real money into an account while they were learning. If they already have a live account then a reputable teacher would tell them it's at their own risk. If he is teaching a course that ends up having a number of losses exactly what would that do for a students confidence? You teach the system demo, and once the student has seen the whole system in operation, wins and losses, then they can put real cash down.

I think your confusing a broker, or someone with broker links, asking for them to put in real money.

If experienced traders want to train people, he should encourage them to open a mirco account , and show them how to deposit USD 10 , then they learn how to manage things realistically.

I have a few number of years under my belt trading, and I would never ask a student to put real money on the table, that is just stupid. I've managed trading desks for real banks, and we would never give a trainee dealer real money to play with unless he had all the basics under control.

But, hey....if 10 buck account works for you, and you like the broker freebies...then go for it. You can always rebuild it 10 bucks at a time. Which again goes back to my point, why don't you just take 10$ to the racetrack and pick a horse?

China Wombat
07-25-2010, 01:45 PM
in my opinion, emotion control is more important than analysis ability..trading demo lack of emotion involve, maybe only few people could pretend that demo is real money and trade with emotion, the rest just hit buy or sell then could be profit/loss 100% in 1 hour..i am agree that micro is better than demo.

i agree emotional control is very important. So why does a 10$ account have anything to do with that. it's the cost of a couple of cups of coffees, a couple beers, etc what emotional attachment do you have to a beer?

if you're looking to make 100% on your account in an hour....how exactly would you manage a 10,000$, 50,000$ account. You''re just punting, so better go to the horse races and get the quick thrill then.

If you're not prepared to demo for at least 3-6 months then you will be fodder for the market. you will be so much stronger and have more emotional durability once you have a system that you are completely comfortable with, know the expected drawdowns, and wins, which can only be achieved by demoing. you can pull the trigger easily, and you have lost the excitement of trading, and look at it as a business.

in fact i would even suggest that you demo yourself to a standstill until it has become a boring chore. all the emotion is then gone...and then you will be a great trader... go and read some of Jim Kanes comments on life as a trader, any other interviews with successful trader who have longeveity...trading is boring when done right...

fkh3100
07-30-2010, 01:51 AM
Demo account exist at the time when people never thought of playing forex with low amount of money.

Now, there is mirco-account where it is possible to play forex with 1000 cents.

Mirco account is for people who know how to trade , after learning the basics at demo, but don't want to take too much risk.

People should try demo account for a few months ,then mirco account to learn how to manage little money ( the money which they can afford to lose).

Let me show you the example:

Which one will make a better warrior?

1) playing the games at home, for example : Counterstrike: you learn to fight enemies by sitting comfortably at home, using mouse and keyboard, when you 'die' , you can start all over again, and can afford to fire a lot of ammos, throw many grenades as much as you want..

2)Go for 'war exercise' at the fields ( military training school) , where you sweat a lot by running , hiding from enemy sight, make use of terrain, get hurt by fall down, and with limited dummy ammos provided. This honed better skills by simulating realistic situations. When you get hit, you are out for 1 month, to learn from mistakes.

jacck2
07-31-2010, 08:52 PM
Demo account along with reading learning material will help you learn how to use charting how to draw lines... see trends set up fibs, how to buy, how to sell. Like in the Military you would fly virtual before they would let you fly... there 10 mill fighter jet. (trust me if you don't have a clue about what your doing the only people making money will be the ones who signed you up.)

bisnetzone
08-01-2010, 12:43 PM
We can learn real trading with a micro account with no risk of large losses

China Wombat
08-01-2010, 04:23 PM
[QUOTE=fkh3100;526695]Demo account exist at the time when people never thought of playing forex with low amount of money.


Which one will make a better warrior?

1) playing the games at home, for example

2)Go for 'war exercise' at the fields ( military training school)



Both your examples are supportive of demo accounts....what's a 1000 cents? 2 beers... it's a pointless exercise if you want to learn to manage money

demo to the amount you actually want to trade in real life...if it's 10k or 100k it doesn't matter. you will get the feel of trading real money. a 1000 cents isn't real money... an imaginary account to the amount you want to really risk will make you much more aware of what is needed to be consistently successful.

China Wombat
08-01-2010, 04:30 PM
We can learn real trading with a micro account with no risk of large losses

and the point of this is? that's why demo accounts are better....you can learn real trading with them...

what you're confused about is, and what you really need to learn is money management, anyone can 'real trade'

do you think a jet pilot has 'micro' emergency landing training, that an airline gives him a small 747 to demo a crash landing? they do simulator hours, after simulator hours, they demo demo demo....

why do you think a micro account will protect you from large losses? an 80% drawdown on an account is still an 80% drawdown...

ibropeace2
08-02-2010, 11:06 AM
please i want to be enlighten on this issue about the funds available in my account, it is showing me in my fxopen trader live platform that i have $5,531 but when i wanted to transfer the funds it is showing me that the available fund is 55.31(micro) is it that i am having $55.31 dollar not the $5,531 and which means the money in the account is not real or what? please help me explain this because am really confused.

hytre
08-05-2010, 04:16 PM
.....

FXOjafar
08-05-2010, 09:31 PM
please i want to be enlighten on this issue about the funds available in my account, it is showing me in my fxopen trader live platform that i have $5,531 but when i wanted to transfer the funds it is showing me that the available fund is 55.31(micro) is it that i am having $55.31 dollar not the $5,531 and which means the money in the account is not real or what? please help me explain this because am really confused.

Yes, what you see is correct. The micro account balance is designated in cents. So $1 looks like $100. You have 5531c or $55.31 on your account if you were to withdraw it.

bruce_mcc48
09-30-2010, 02:45 AM
If you can take 30.00 and turn it into 3000.00 to 5000.00 then you are ready to trade standard and turn 3000.00 into 30000.00 then sky is the limit for it takes much self control to not over due it and loss it :sm54: !

MorePips
11-04-2010, 06:54 AM
If you are true newbie like me:) You'd better to start on demo account. It's my opinion!

MisterAudio
12-21-2010, 12:54 AM
I think I may be able to shed some light on this subject. Both are good. Demo and Micro account. All depends on how you think on which is more beneficial. Main thing is that regardless of which you choose, you must set a goal to attain.

In demo account, goal should be to develop a strategy that is consistently going positive and capable of absorbing the losses before going live. In a micro account, the goal should be use the money in your account to fund a standard account to go live with. Meaning...start with $10 and build account until you attain at least $1000, then use that money to open a standard. If you blow out the micro, then you must start again with no more than $10, and you must not allow yourself to deposit more.

Either of these methods is a rock solid method to ensure that you have a good reliable system that you can trade with confidence....as long as you assume that the first trades you make with the big account will be all losing trades...hehehe.

cafedeart
12-22-2010, 01:08 PM
https://content.screencast.com/users/fg-a/folders/christmas/media/84ff866f-1529-4a93-b9ed-f345bb325d50/0_santa32c4.gifhttps://content.screencast.com/users/fg-a/folders/christmas/media/5716c7da-38bc-460a-b7df-271c662b2c85/me_ch2a.gif

fxopen Micro is the best, i love to trade live in Fxopen Micro, i got instant exit even in news time volatile market, without slippage. i got the exact pip and it doesn't re-quote even in fundamental news release.

:sm44:&, Merry Christmas To Mr.RebateFx.com, Mr.Fxopen Manager, Mr.NoNamer, Mr.RahmanSL, Mr.ilearn2t
& To all Fxopen Office Personnel/s & To All fxOpen Clients :sm46:

RahmanSL
12-23-2010, 06:59 AM
Thank you and a Very Merry Christmas and Happy & Prosperous New Year to you cafedeart! : )

Back to the subject of: TO Demo or NOT to Demo or To Micro or NOT to Micro; that's the question!

Everybody got their own opinion and everybody are correct too!

As for starting with minimum capital of usd3k LIVE account in order to make a living from trading forex, that would be true if that person (who should have at least 1.6years experience in forex) intend to make a living from trading forex.

But...hehehe...I think the vast majority of Newbies are just "testing the water" to see if they really can make money trading forex, and most of them don't have usd3k to begin with. So, to get a taste of trading LIVE account, a micro account would most certainly be recommended as it suit them best.

I still advocate that Demo should be for familiarization and to get to know the different functions of the Broker's trading platform..plus to test out or to develop one's trading strategies. After Demo trading for sometime, it becomes difficult to pretend that virtual money in Demo account are REAL since our brain cannot be fooled that easily. This results in careless and reckless trades which can become a bad and difficult habit when trading LIVE account.

So, my recommendation for Newbie is for LIVE Micro account, starting capital usd10 - usd2,000 set at 1:500 Leverage.
In fact, if your broker is FxOpen, I would recommend Micro in place of Standard Account as you can close out minimum trade size of 0.1 since they have smaller monetary value (i.e cents instead of dollar)

MorePips
12-28-2010, 08:43 AM
Those who plan to set up account,

I recommend that you set up mirco account rather than demo account.

You can put $10 , this convert to 1000 cts.

You can pretend you have 1000 dollars ,and learn how to trade, which strategy is better.

If you can make 5000 cts from this, then your strategy is good .

and set up standard account and put $1000 , and trade using own method.

Better than demo account .

After a while I understood what a brilliant idea is that! There is no feeling of money on demo account, so you act like you will never act on a live account. Draw downs don't touch you!

maryoojt
05-19-2011, 05:57 AM
Its awesome to b here and following the instruction , I was just starting the demo version to learn and practical but the idea of using a micro account sounds well and I appreciate the post.

emawilson
07-09-2011, 11:35 AM
demo account is not bad by this we can have basic knowledge about forex as games or software we use trial version and if we find it good then move to full

microsuck360
07-18-2011, 12:46 AM
hi guys,
1st of all english is not main lang here...so pls forgive my grammer..anyway im new here just open micro acc (1:500)..just wondering what does volume 0.10 means..is it 1 pip = 1 cent? or 10 cents? thank you

FXOjafar
07-18-2011, 03:06 AM
hi guys,
1st of all english is not main lang here...so pls forgive my grammer..anyway im new here just open micro acc (1:500)..just wondering what does volume 0.10 means..is it 1 pip = 1 cent? or 10 cents? thank you

Hi

0.1 lots in micro is equal to 1c per pip.

microsuck360
07-23-2011, 06:57 AM
Hi

0.1 lots in micro is equal to 1c per pip.

oh okay thanks

lxc
10-22-2011, 10:24 AM
Microaccount is good choice for newbies to practice trade technique and strategy. Now i am doing like this. Wish I could graduate from beginner phase ASAP.

Paul75
12-05-2011, 10:18 AM
Your idea is good but I think, newbie should start with demo account. It helps them to understand the basic of trading as well as increase confidence to trade with real money.

widhie75
02-09-2012, 05:54 AM
Demo account is important as live account (micro or standard),, both have same market movement and same result... The advantage in demo account is we can test how good & how consistent our trading skill, if we had bad result in demo account then it sure will have same result when we trading in live account.

The advantage of micro,,, we can feel the psychology of trade, we can feel happy when profit and also sad when loss, and also we can feel the thrill that we didn't found in demo account.

but offcouse, as newbie in forex,, only invest some money that we can afford to loose... consider the deposit as a money for fun.

dissamadu
03-02-2012, 01:33 PM
But Demo account is not real money and no one give free 1000 bucks ........

ghprod
03-06-2012, 01:48 AM
Agree with OP, with real account even just micro account at least can hone your psychological side .. just pretend its really big balance, and manage with carefull :)

CCC000
03-06-2012, 08:32 AM
great idea!

caution for newbies.
that way, you avoid much risk and learn to trade with little money.

NOTE: when you trade successfully with that little amount then you are ready to trade big with your proven and tested strategy.

okie very good advise but there is huge problem is that you will start feeling greedy and start opening with 1 micro lot
and maybe eventually you will loose everything if not then this is okie but demo account is very good not for beginners but also for experts maybe there is some different but in general it is the same charts and when you make money on demo you can make profit in real
but you must have huge deposit for micro i highly recommended 300$ or more
and for standard account i highly recommended 5000$ or more

vanov
03-11-2012, 09:46 AM
I agree with you,. It's better if we directly try with real micro account than start with demo account... ^^

hira
03-12-2012, 10:06 AM
Those who plan to set up account,

I recommend that you set up mirco account rather than demo account.

You can put $10 , this convert to 1000 cts.

You can pretend you have 1000 dollars ,and learn how to trade, which strategy is better.

If you can make 5000 cts from this, then your strategy is good .

and set up standard account and put $1000 , and trade using own method.

Better than demo account .
it depends from trader to trader that what is he comfortable in, working on micro accounts is surely a better option.

RahmanSL
03-12-2012, 12:34 PM
For those who are afraid to lose real money, stay on a Demo forever! Treat the Trading Platform as a gaming console.

If you are afraid to get hurt from standing up and take that first step, then remain a baby forever!

Your choice, and your money!

Risk is all around us...if we are afraid to be hit by a bus, catch a virus from other people, get mugged, etc...just stay at home!

freaks419
03-22-2012, 11:59 AM
People must learn how to set up account and deposit $10, $20 and learn how to deal with emotion,etc.


i agree with you, i've been trading in demo account for about 3 months and it works well, but after i go to real trading i cannot beat my own emotion, that's why i choose to trade just using 10$ real

puji
03-23-2012, 12:48 AM
it should also be true for traders who are just starting a business forex demo account is used as a way to train the ability to analyze the experience of using a strategy or system used prior to using it on real account.

ryuken
03-29-2012, 05:09 AM
Micro account requires real money and demo requires none. in case of profit the chance of real money profit is limited and sometimes it is negligible. so it hardly matters which type of account you use if you're not serious.

fastfx
04-08-2012, 12:34 PM
Thanks for agreeing with me.

You can organise a group of people under you, train them to set up micro accounts, show them how to trade.
(FXopen will benefit because more money will flow to them, you will benefit because you get commission for people signing up mirco account under you.)


Do you know in my country Singapore, there are forex trainers who organise training seminars, urging people to set up standard account and deposit US$1000 and above?

More people lose more because they has little knowledge of trading.

Demo account is not realistic.

People must learn how to set up account and deposit $10, $20 and learn how to deal with emotion,etc.

this is mind blowing job but convincing others for trade is time taking job although i have some friends and i will tell them to join forex open as you are mentioning HERE .

CPA
04-24-2012, 10:31 AM
let's say that you won't be able to test your ability efficiently enough to trade in demo as well as to trade in micro. The market is flexible and what have been working in your strategy in demo will not necesairly be the case in micro. You must have some variable as well as market trends depend on life events ! mind the slogan of the forex : we are working to get risk reduced at best. So you can't trade without "risk". Better try your money in a real trade even if your not skilled enough. You just need basic skills and the risk is fact of the amount you invest.

sin70
04-26-2012, 05:50 AM
Micro account requires real money and demo requires none. in case of profit the chance of real money profit is limited and sometimes it is negligible. so it hardly matters which type of account you use if you're not serious.

use demo account to learn then use micro account to start experience with real account

Ryanloop
04-30-2012, 02:47 PM
Thanks for the great idea

I have only one question: is it possible instead of putting 10 dollars and turn it in 1000 cts, maybe put 100 dollars and convert it to 10000 cts?

Regards

Rizal
04-30-2012, 03:28 PM
Thanks for the great idea

I have only one question: is it possible instead of putting 10 dollars and turn it in 1000 cts, maybe put 100 dollars and convert it to 10000 cts?

Regards

anything is possible.it is depend on your trading skill and your money management.

badyfish101
05-01-2012, 03:22 PM
I have been playing with Free EA robot for 2 years, Most of them run really well in backtest but none of them really win forward test after spread and commission.

I did demo ECN manual trades recently for few weeks and learn a lot, It is very risky and non-linear market, Most of them 5 min chart, Winning range is only 10 pips, I am wondering what account fits me, I look at micro account, Its spread is 2 pips, ( total 4 pips), I don't make very much risk/reward, I want to go for ECN live, $USD5000+, I am wondering anyone have any experience? Also what Margin should I use, 1:100 or 1:500 Etc? Thanks

Another question is that, What currency they use for those accounts, USD? Or I have other choice for currency?

badyfish101
05-01-2012, 05:09 PM
For me, As a beginner, Demo or micro are really not that important here, How to win is more important, I have seen some male trader quit their good job, laughing with big money to the bank, I have seen quite many female house wife, lose real big money in real time. ( It seems male are better in this game), My question is that, How many real winner here? How many real loser here?

Also, I read it from other post, wire transfer money to account cost $50USD per transaction, For micro account, It is really big overhead, Is that true?

Sorry for off subject because I can not post question, For EURUSA, I am wondering that What hour are better for beginner, For EURUSA, London session better or USA session better, So far, Due to lousy trading skill, I have better luck in London time, In USA session, Lots of money there but I am still lack of skill to take it.

donmambo
05-03-2012, 10:49 PM
So we have to be expert using micro account first before opening account in standart account?

001
05-07-2012, 04:20 PM
i think this is really good because when you trade with your money, you actually know the value of it and you will have tensions when you are losing it but in case of demo you never come across such thing because you know its all virtual

depafx
05-08-2012, 03:02 PM
Those who plan to set up account,

I recommend that you set up mirco account rather than demo account.

You can put $10 , this convert to 1000 cts.

You can pretend you have 1000 dollars ,and learn how to trade, which strategy is better.

If you can make 5000 cts from this, then your strategy is good .

and set up standard account and put $1000 , and trade using own method.

Better than demo account .

i think demo account is better one
i just hear about micro account, so i wanna try how this account work
maybe, in my opinion, your explanation is little bit hard to understand dude
i just wanna share dude

taharoyal52
05-17-2012, 06:18 AM
Oh! Wow.
I didn't knew about this. My teacher never told me :(
He only told me that a demo account is there for you to practice. I will ask him about this today.
By the way, your expected return is much higher, i guess!

dintera
05-18-2012, 10:08 AM
Forex learning is very important. To succeed in our day trading if we must follow proper approach or steps. Firstly we must develop our trading plan, prove it on a demo account, and stick to it after we begin trading live. Money management is one of the important aspects of forex education that we have to fully understand it as to safe guard our investment. Other important aspects of forex education are related to understanding a trading risks,* to forget about the trading tips, to count on our profit later, always to check on news, to trade with money that we can afford to lose, to match the trading risks with its return, to leave our ego at the door and always take our profits.

incomekun
05-23-2012, 03:03 PM
in my opinion, emotion control is more important than analysis ability..trading demo lack of emotion involve, maybe only few people could pretend that demo is real money and trade with emotion, the rest just hit buy or sell then could be profit/loss 100% in 1 hour..i am agree that micro is better than demo.

I'm agree with this, because of the emotion and psychology is really different between Demo and Real even it's only a cent account. But you can try another method to use Real but free with the no deposit bonus, just to try your strategy, so even you can't WD your profit, you still trade in REAL environment, and will be really nice if you cant WD your profit to deposit and trade REAL with more capital

aun
05-24-2012, 06:31 PM
It can be good to trade in real market with micro accounts using low of our investment.But for this traders should have a good know how of trading. Demo accounts are better in this sense that they make familiar to newbie with forex market.

4EverMaAT
05-25-2012, 02:03 AM
I just want to clarify that on the micro account, the minimum order size is 1 micro lot (1,000 units of base currency). This is represented as 0.1 on the FxOpen metatrader 4 platform, micro account . Each 1 pip move = appx $0.10 or 10 cents.

When the FxOpen staff make the claim that it is a "cents" account and that each pip = 1 cent ($0.01) (many examples over this forum and others, but here is one (http://forum.fxopen.com/showthread.php?62848-Question-about-nano-lots-Equity-Builder),
The only way that each pip would be $0.01 profit/loss would be if the contract size was nano lot (100 units of base currency). Please correct me if I am wrong.

The terminology some of the moderators are using is confusing; unless you have one place on your site where you clearly define lot sizes and pip values.

sofeenevu
05-25-2012, 01:29 PM
i am also agree with you. Micro account brings us some different experiences than the standard account. So as a newbies, I think Micro account is better.

ilearn2t
05-31-2012, 12:25 PM
Hello 4EverMaAT

On a "Mirco" account the EUR/USD 0.1 lot (100 units of the base currency) = $0.01 each pip.

The smallest lot size is 0.1, you can add a step value of 0.01 lot size on top of the minimum 0.1 which will have a value of $0.001 on each pip.

Please remember not all currency pairs carry the 0.1 lot = $0.01 rule, you can get a better idea by viewing this link.

http://www.fxopen.com/Margincalculation.aspx check under 1 point value
for Lot: column

Good luck
ilearn2t

atif58
06-27-2012, 09:30 AM
This will also help a trader to control his emotions. As we know in demo account a trader has no fear of lossing his money. So his emotions are not same as in real trading. That's why this would be a good idea to trade in micro account rather then demo account.

Nicu
06-28-2012, 04:00 PM
I think the demo account is more better then micro account.
Wen you trade and lose all your money from micro account your first reaction is to deposit more money and trade.
With the demo account you dont have this problem.You lost money from the demo account you just make a new demo account.
Why to lose your money when you can lose demo money?
Some people think "well i lost $10, i will deposit another $10" and so one.Is not that fun to lose real money.Even $10.

don592jon
07-18-2012, 07:41 AM
Those who plan to set up account,

I recommend that you set up mirco account rather than demo account.

You can put $10 , this convert to 1000 cts.

You can pretend you have 1000 dollars ,and learn how to trade, which strategy is better.

If you can make 5000 cts from this, then your strategy is good .

and set up standard account and put $1000 , and trade using own method.

Better than demo account .

Yes I appreciate with you, in general I found people who has less idea about these sort of things they only deserve to make demo account so I think mirco account is better than demo account.

Raja Aqeel Ahmad
07-18-2012, 08:21 AM
thanx for the share ma b new hu aur abi trading start karni thi aur is ma agar ma demo account use karta to sara loss ho jata aur amount b ziada involve ha thanx yar

tapos_kumar
07-19-2012, 04:10 PM
Thanks for the Information.

pedrosa
07-20-2012, 06:05 PM
Since the beginning i am doing this exact thing. I used demo account very little. I started with extremely low amount money and tried to put all the strategies and other things into test using that, i got to say that it's slightly better then demo account. You will feel emotional drive in this which you can't in demo account, it's all about learning to control that emotional drive.

Postworker23
08-17-2012, 09:02 PM
Fx micro accounts are good for forex newbies. Because only a low minimum deposit is required and they are trading with standard leverage of 1:100, they can collect their first experiences and create their first profits.