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Forex account grows to $422,000,000,00 in 2 months !
This video represents 1 hour trading
session summarized in 10 minutes of activity. Be careful, this is on FXCM demo account, where
demo accounts do not emulate live accounts very well. A friend of mine
was impressed with these results and opened a live account on FXCM for
$25,000,00 and he lost it all in no time though he followed my guidance
well. I double checked my self and tested the the FXCM live account and
discovered the difference. Unlike demo accounts with METATRADER based
accounts, FXCM has a web based platform called Active Trader, which has
small delay in quote delivery,-TO BE HONEST: I have checked all other
software based FXCM demo and live accounts like Micro and Standard
station platforms and found that demo accounts mimic live accounts very
well.
So what is the problem with the active trader?
This platform allows to enter any order in demo mode no matter what size
it is and never prompts you for requote. So with the second of delay
between any charting software and the platform you can do miracles in
the Forex market. The case is completely different on live accounts, the
small quote delay causes you to get requotes constantly unless of
course, setup the trading station to allow adequate slippage for every
order, in either case you will end up losing your pants with FXCM active
trader live account. I published this to help protect some lucky traders
before they get misled by this FXCM demo trading platform. I do not
think that anyone would open such live account without searching the
internet first, unless he or she is crazy. So while I
could make $422 millions in the demo account from an account that was
once under $30 K, It was impossible to increase my equity in the live
account by few thousands using the same trading strategy used on demo
account. So what is this demo account good for?
My advice to my Forex bodies:
Do NOT OPEN A LIVE ACTIVE TRADER ACCOUNT WITH FXCM, YOU WILL LOSE IT ALL
!
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