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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
Can you help answer these questions from other members on NexusFi?
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
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.
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.
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.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"