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Thread: FX mirco account is better than demo account.

  1. #46
    Piplet
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    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.
    Last edited by badyfish101; 05-01-2012 at 05:20 PM.

  2. The Following User Says Thank You to badyfish101 For This Useful Post:

    dintera (05-18-2012)

  3. #47
    In Profit donmambo's Avatar
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    So we have to be expert using micro account first before opening account in standart account?

  4. #48
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    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

  5. #49
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    Quote Originally Posted by fkh3100 View Post
    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

  6. #50
    Market Maker taharoyal52's Avatar
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    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!

  7. #51
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    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.

  8. #52
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    Quote Originally Posted by jemmy View Post
    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

  9. #53
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    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.

  10. #54
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    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,
    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.
    "Awareness is the first step because without that, we will eventually lose our account balance and have no idea how it happened" -AwarenessForex

  11. #55
    sofeenevu
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    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.

  12. #56
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    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

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    Market Maker atif58's Avatar
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    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.

  14. #58
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    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.

  15. #59
    don592jon
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    Quote Originally Posted by fkh3100 View Post
    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.

  16. #60
    Market Maker Raja Aqeel Ahmad's Avatar
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    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

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