Leadcapital Markets - TRADE.com

[Gravelwood]

I understand that, but I don't quite get why in this case you would have to close the trades manually after a little while? And what means a little while?

 

[Lailsa]

That's a good question. In fact I'm still in doubts this practice is necessary.
My observation is that when the price comes up to the level and hits your limit order, it either bumps off quickly or continues the move further disregarding the level. This is why I tend to close the trade in case there is no bump.

 

[Gravelwood]

That's good that you've noticed that there is a reason to doubt

 

[Dorirdredd]

From what I see it takes time anyway to find out whether the price action is following your plan on the level, correct? In this case you really never have a reason to close the trade earlier than let's say 2-5 minutes after the opening and therefore you've never really had a chance to see what happens in case you try to close your trades fast with trade.com?

 

[Lailsa]

I've closed severtal trades in less than a minute (at least it feels like that yet Im unsure about exact timing) and there were no sanctions or troubles with that, if that's what you want to find out.

 

[Dorirdredd]

Yeap, that's exactly what I wanted to find out, than you so much for the info!

 

[Gravelwood]

If you pardon my annoying tone... i'd suggest taking a closer look at the circumstances when you close your trades early. I don't say this is the incorrect tactics, yet the way it sounds, you really don't have any clear rules abou that in your system/approach. Yet, knowing the exact answers on questions like "what happens if I close the trade early" or "what happens if I always leave the stop where it is" - nowing these answers is essential for the long-term success on the market.

 

[Lailsa]

I opened two demo accounts with this broker in order to understand which trading platform is better: Metatrader 4 or Webtrader. Moreover, I would like to practice demo trading for a while because I try to be cautious. I don’t want to endanger my money from the very beginning, especially considering my zero trading experience. I also want to explore the main distinctive features of some popular financial instruments.
For example, I would like to understand how EUR/USD, other currency pairs, not to mention oil and metals move.

 

[Direbringer]

People rarely shift from a real trading account to a demo one but when they do this it clearly shows their willingness to learn. As I know, you already have a real trading account.

 

[Lailsa]

Yeah, I already have a trading account. That’s a Silver account. It comes with the most affordable minimum deposit of $100. Other accounts with this broker have very high minimum deposits and it’s clear that they are for high rollers. But I hope to benefit from the Silver account.

 

[Adowyn]

I heard that with all brokers demo accounts have quotes that differ from those provided to real accounts.

 

[Lailsa]

I think that it’s a common myth. Even if they differ, I think that it’s a slight difference and relates to executions, not market data difference.

 

[Direbringer]

I hope so.

 

[Dorirdredd]

I think that a demo account is a great training tool, at least for scalping. It helped to start scalping on real accounts. I think it may help with long-term trading. However, trading on a demo account for a long time would be a harmful experience.

 

[Gravelwood]

I agree. The longer a person trades on a demo account the deeper he plunges himself in a sweet illusion that he can really trade.

 

[Direbringer]

Thank God I quitted demo trading much earlier than many traders. I remember that I was shocked to learn how greatly real trading differs from demo trading. When trading on a demo account you don’t care about anything and that’s bad. Once you start trading on a real account, you start to value your money, every single dollar and you start to take responsibility for what you are doing on the trading platform. Of course, you can’t acquire such vital skills when trading on a demo account.

 

[Gravelwood]

I think that trading micro lots is a good alternative to demo trading. At least, you earn something in this case, while your losses are not so painful.

 

[Lailsa]

I know that these are different things. But I had to temporarily move to a demo account to understand some basic things. By the way, I have deposited $500 to my real Metatrader 4 account. By the way, I chose exactly Metatrader 4 for real trading because I admit the possibility to use custom indicators. As I know, Webtrader doesn’t support them.
I think it will take me several months to learn everything I want to know about the assets I’m interested in and then I will get down to real trading with this broker and hope to succeed.