Cheap market to trade?

February 20th, 2011, 11:44 PM

Well I know their is a market out their that a guy can trade cheaply. I saw it on here one time, but just can not find it. From what I understand you do not win much when you do and wont make a living doing it, but you can use it for a testing ground for yourself and your system. Does anyone know the name of this Market?

Chad

February 21st, 2011, 12:19 AM

skyfly

Well I know their is a market out their that a guy can trade cheaply. I saw it on here one time, but just can not find it. From what I understand you do not win much when you do and wont make a living doing it, but you can use it for a testing ground for yourself and your system. Does anyone know the name of this Market?

Chad

Chad,

The cheapest market that will serve as a testing ground is SIM. You should not trade live until you have proven to yourself that you are confident in your trading system/money mgmt/psychology. Stick with SIM until that point. But once you move into live territory, you're going to need to base the market of choice on your account size and risk tolerance first and foremost.

Cheers,
PB

February 21st, 2011, 12:50 AM

Private Banker

Chad,

The cheapest market that will serve as a testing ground is SIM. You should not trade live until you have proven to yourself that you are confident in your trading system/money mgmt/psychology. Stick with SIM until that point. But once you move into live territory, you're going to need to base the market of choice on your account size and risk tolerance first and foremost.

Cheers,
PB

PB,

Dont understand how you can get confident in your psychology until there is real money on the line.
SIM's can just be reset and started again as there is no cash on the line.

I'd say get a mini account with FXCM and just test your system that way and keep increasing the minilots until the money becomes significant to you and the trade. Thats gonna beat SIM trading all days long.

Ged

February 21st, 2011, 12:58 AM

Forex.

You can get mini trading ($1 per tick) or micro (0,1$) per tick.

You can open an account at PFGBest for $1000 and trade the mini forex.

Dukascopy is better but I think the account size must be bigger. They used to have only 100k accounts but they dropped that lower.

Let us say that you PFGBest is not best but best of the 'crook brokers' out there.

You could also forget that forex stuff and trade the mini futures.

February 21st, 2011, 01:10 AM

MetalTrade

Forex.

You can get mini trading ($1 per tick) or micro (0,1$) per tick.

You can open an account at PFGBest for $1000 and trade the mini forex.

Dukascopy is better but I think the account size must be bigger. They used to have only 100k accounts but they dropped that lower.

Let us say that you PFGBest is not best but best of the 'crook brokers' out there.

You could also forget that forex stuff and trade the mini futures.

If he's only looking for a step above SIM to re-enforce learning, I don't see a problem with trading micro lots of FX. Even if he loses a lot , at $0.10 per tick it still cheaper than playing WOW online.

February 21st, 2011, 01:19 AM

Agreed, when I look at deepdiscounttrading.com the emicro foreign currencies cost
$1,36 RoundTrip ALL IN, that's great.

February 21st, 2011, 01:27 AM

MetalTrade

Agreed, when I look at deepdiscounttrading.com the emicro foreign currencies cost
$1,36 RoundTrip ALL IN, that's great.

BTW ... thanks for the info on DeepDiscount!

Regards,
TMFT

February 21st, 2011, 01:42 AM

thanks for all the replies. The forex is what I was after. That 1 dollar a tick or .10 a tick sounds good. Thank yall

Chad

February 21st, 2011, 01:59 AM

Good Luck and Good Trading!

Regards,
TMFT

Cheap market to trade?

Discussion in Traders Hideout

Cheap market to trade?