MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trading Talk » Beginners Forum

[dkny7007]

hi all,

im 20 yr's old, i have been studing forex for about 6 months, and i feel very confident at this , i read lots of books, and create my strategies which really work for me, i make profit evey day on my virtual account. today, i decide to get into a real account, so after do some research, and i found , and fxdd r fit for me, cuz they provide mini account, and use metatrader as their client too ( my favorite tool). then i first try to register with , and fill out the form, then a pop-up appear: you r not between 21-72 yr's old, some thing like that..so b4 im trying to the next one : fxdd . i would like to ask some question, and i hope some body can help me out.

question:
1. what is minium age to enter forex trading ?
2. besides and fxdd which se metatrader as their clien, and there any broker support this ? plz pm me ..

thank you.

[overgrowth]

This seems odd to me.

Surely anyone of age to run their own bank account ought to be able to open a FOREX broker account if they are depositing their own funds to cover margin and not relying on credit.

I'd just put age 21 in to bypass the pop-up and see what happens next.

[FXSusan]

With most companies it is 18 here in the US

[fxmkt]

Hey, Glad to see some younger fella's like myself tradeing more. Im 21 and have been tradeing for a little over two years. the age is 18 in the us

[mysteri]

hey guys,

good to see some younger guys getting involved! great encouragement for old fogies like myself getting a late start.(i turned 22 in march) for u all who are trading full-time as a career, or for those w/ very little income requirements like myself, do u feel that trading is stable enough so u don't have to get a min-wage type job? how many lot's do u have in rotation in order to live comfortably? jus out of curiosity, thanx in advance...

[ampris2000]

for u all who are trading full-time as a career, or for those w/ very little income requirements like myself, do u feel that trading is stable enough so u don't have to get a min-wage type job?

Hi, i'll be quitting my job 23rd september. Anyways, it has nothing to do with trading being stable. The question is are your trading results stable enough?

*********************
how many lot's do u have in rotation in order to live comfortably? jus out of curiosity, thanx in advance...
***********************
Everyone has their own needs/wants for what is living comfortably to them. My initial goal is between 400-500/ week and anything over that i add to my fx account balance. I had planned it out to for a worst case scenario if i have a bad week for it to be 275 that week (30 pips for the week). But i have been getting between 50-100 pips per week.

I don't know your current account balance or what your income goals are, but go to a staffing agency like express personnel, westaff, or adecco. Get a temporary job and build up your trading account balance.

The more your account balance, the less pips you need to gain to meet your income goals. If i had 100,000 in my account (less actually) I could have a pip=100.00. Then to have 500 for the week, i would only need to gain 5 pips. In reality though,if i'm consistently getting 50-100 pips of course i would still shoot for that goal.

[forexc]

Originally Posted by ampris2000

The more your account balance, the less pips you need to gain to meet your income goals. If i had 100,000 in my account (less actually) I could have a pip=100.00. Then to have 500 for the week, i would only need to gain 5 pips.

But you could lose the same amount (your weekly income) with just 5 pips...

[ampris2000]

of course i could lose 5 pips.

but if a trader is competent they wouldn't enter a trade to close it at -5 pips.

i was just using that above as a simple example. i have been many negative pips before due to bad entries (which i am making better entries now) but overall my system said it is going the other way in which it eventually did.