New at forex trading

 

Hi, I have trade som at my demo account, and want to go real...

If i deposit 500-1000 usd / euro

on what leverage should I start at ?

whats the best brooker for a small trader ?

I have understad not using more than 2 % of deposited money is the way to go, money wise ...

I live in sweden and, wounder about the taxes ? anyone ?

do I pay taxes for every trade or just when I withdraw the money ?

 
suwarto:
Hi, I have trade som at my demo account, and want to go real...If i deposit 500-1000 usd / euroon what leverage should I start at ?whats the best brooker for a small trader ?I have understad not using more than 2 % of deposited money is the way to go, money wise ...I live in sweden and, wounder about the taxes ? anyone ?do I pay taxes for every trade or just when I withdraw the money ?

As for the broker I think every broker that offers micro accounts are good.

The leverage depends on your strategy/system, If you don't need the leverage then don't use it..

The 2% rule is a great rule, in this way you won't blow out your account in the first minutes you trade!

As for the taxes I would talk with an account about this, these people know allot more then us about taxes (they are also different in every country)

 

You should trade with the broker you have used a demo account with so that you are used to their trading platform. If you are going to change broker I would use eToro, they are a great broker for new traders.

 

Leverage

I recommend 50:1 leverage for any new trader.

Money Management

Don't confuse your deposit with your risk capital. If you have 10,000 euros to risk, but you're only depositing 1,000, then the true 2% is 200, not 20. If your risk capital is only 1,000 euros, then your risk should be 20, meaning that you should be trading mini contracts or even micro contracts. Check with your broker that these are available before you proceed.

Brokers

The best broker is the one with the least spread.

Taxes

With regards to taxes, as far as I know your profits are only counted at the end of the financial year, not per trade.

Before you trade for real...

Before you proceed with trading with real funds, the most important thing to consider is whether you have a reasonable expectation of profit. The safest way to do that is with a proven, profitable system in place. Whether that is through your own skill, or by an automatic trading system, it doesn't matter. But I would never trade unless I have a consistently profitable system in place.

Hope that's helpful.

Thad

 

Leverage depends upon your trading style, if your scalping for a few ticks, then you can safely lever up 100:1, if your swinging for 100s of pips then I would keep it around 10:1, you should know from your demo trading how much is enough, best to play conservatively when starting out...

 

I think you must consult good forex trader in this regard, he will assist you in right direction.

 

I just use small amount to trade in forex, so i use maximal leverage from my broker, InstaForex. I think, we can use demo account to determine leverage which we will use.

 

With this amount you should use levearge 1:100 to 1:200 . As low you will use margin it will beless risky for you to trade in forex market. You can use your low amount in micro accounts with mini lits and get good trading practice in real market.

 

Every newbie must first ensure that after practicing in demo do they really wanna trading if yes then must try with small amount.

 
suwarto:
Hi, I have trade som at my demo account, and want to go real... If i deposit 500-1000 usd / euro on what leverage should I start at ? whats the best brooker for a small trader ? I have understad not using more than 2 % of deposited money is the way to go, money wise ... I live in sweden and, wounder about the taxes ? anyone ? do I pay taxes for every trade or just when I withdraw the money ?

Man I HIGHLY suggest you to do this before anything:

(i) Answer to yourself: have you been trading this Strategy of yours for over (at very least) 3 months with consistent profits?

(ii) Answer this as well: It's fine to plan 2% of risk per trade. But have you already done the math of the relation: size of stoploss / % per trade? Btw your strategy include the size of stop losses?

(iii) Before depositing real money, I'd suggest you to trade from "Demo Trading" to "Almost Real Trading / Fake Trade": Where you deposit about $100 and trade a penny or less per pip. So you'll FEEL how it is like to having money at the market.

See here:

trading demo is useless?

Of course...

The finding the Broker part is an easy one I promise

Wish I could help you more than a Swedish attorney with your last question.

 

if we have, learning in a demo account then we start the real trading account. we can utilize the free capital of a broker to trade real account. So despite the loss we will not lose money

Reason: