Your Questions About Forex Program Trading The following Question and Answer is brought to you by our Forex Consultant with interaction from members of the Yahoo Answers community.
Forex Trading practice? I am interested in Foreign Exchange trading. I went to forex.com and they have a “Practice” account that gives you $5k in fake money to trade with. I down loaded the program, and started trading. I bought some USD vs GBP. I bought when one was down, and 5 mintues later it was back up. Essentially, I made $200 in play money in -15 minutes. I literally started with $5,000 and ended with $5,200 after I liquidated everything 15 minutes later. Would it be this easy with real money in my account? it cant be. Also, whats the deal with “Leverage”? 100x leverage, so every $10 I put out I can somehow trade with $1000?? So if I loose $1, I really loose $100 of this company money? I ment to say, I started with $50,000 and ive actually ended with $50,395.00. program started me with $50k fake money, ended with $50,395 fake money
admin answers: You will find a big difference when you have your own hard-earned money on the line. The emotional stress seeing your losses mount by the minute ( or even second ) can be very high. And do not forget commission – that will either reduce your gain or exacerbate your losses. And leverage is the kind of thing that will wipe you out – and potentially leaving you in debt for a very long time after that. Be very cautious in Forex – you are a beginner, and a small player; the odds of you becoming wiped out are high. You are pitching limited skills and experience against the professionals who have been doing this for years with faster and more sophisticated equipment and information systems.
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