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Originally Posted by pitstopped
Thanks' for the reply RebateFX. I do have a lot to learn, I know. But, your advise is good. I invest only with money I could afford to lose. Although I hate to do that. I will continue to read these forums and practice trade. Could anyone recomend a practice account that is mini sized to practice with too? Seems to me a person using a practice account is going to get into live trading on a mini scale at first.... why not get a mini practice account?
Do more forex traders take small quick profits, or go for longer positions?
Thanks'
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Many people start out on Oanda for micro trading. While their platform is lacking in many aspects, it's not such a bad place to start. My broker has micro accounts but the demo is on standard with the very good MT4 software which is something you should learn to use sometime
The most profitable traders, make longer term trades, catching a trend and riding it. Taking small, quick profits while seeming attractive, is not profitable in long run. Most of my trades go for one or two days going for medium targets, and some go for a week or longer. It takes time and patience to learn it though