Thursday, August 31, 2017

Bad choice

As I was saying I`ve switched my FX broker now I trade with FX Open and in case you want to know this broker cheats or tries to do it in the worst way possible. While apparently everything is ok, spread ok (not very good but acceptable) order fills with little delay but acceptable and at the surface you think everything is ok ... they lower your margin level during the trading session without warning. Meaning if you for example have opted to trade with an 200:1 leverage and peacefully place trades thinking the leverage they give you is 0.5% you might find yourself in error. The procedure is one of the most dangerous way of scamming traders, I`m not sure if its legal. Of course I`ve closed the account. As a matter a fact the leverage was lowered to something I`ve never experienced in my life. It was something like 160-170:1, yes, and I say "something like" because I don`t know what leverage they set, I did not had the patience to precisely find it, my software calculates any leverage between 50:1 (2%) and 0.5% or 500:1 but only in 10 step increments, I could not find the precise leverage that I had on my positions with FX Open at that time it was something between 160:1 and 170:1 I`m not sure and for that matter it was not important what was important was that they did that. What happens in this industry especially if trading with non regulated brokers  is incredible.

Futures

For the moment I`m back at my futures demo which, btw, now is on a 1 million account. Even though without being a big issue, on a real million account I might experience some slippage every now and then from what I can say. Of course is hard to say unless you trade on a real account and gradually find out the slippage your strategy can incur and other factors that might affect your trading and in consequence find a way to solve the issues. In any case plunging in was a lot of fun and theoretically I`ve made like 100K in one day, theoretically because like I said unlike on the 100K account where given the big market depth slippage was out of the question on this one things might be a little different in real. By little different I mean that due to some slippage, I have to mention I have traded during the European session when MD was not so large as in the picture, I might not have achieved the same results, however the profit is big enough to mind not even if assuming that due to slippage it would have been cut in to half. My trading today was inspired by this post http://donmillereducation.com/journal/2017/08/30/my-fall-2017-goals-be-the-ball/ of the one and only Don Miller, of course I`m on demo and its different when it comes to emotions involved, but then I`m trading futures for about 1-2 weeks does this not compensate???..probably not but still :))? Oh if anyone reads this I am trading FX for 10 years so do not believe I just come to trade futures and I kick ass already after 2 weeks :D; And here is how profits look on the 2 accounts (demo accounts) of 500K each:


Yes,yes its not 100K but 95K or whatever I don`t have good math or trading skills I`m permanently lucky in the markets. I`ve struggled a lot to make it 100K but at the end of the day I must rise the white flag... I was defeated...or was I? So close, tomorrow I will not do this again even though if you want to bet on 100K real dollars I will do it again :)))

Starting with tomorrow I`ll be back on FX real account with what was one of the best brokers I have ever had in this industry, as I previously said in a post, and should it happen that you got 1 million  real cash and you want to keep 1 million real cash and still spend like a millionaire in the same time ask for help ;)

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