I really surprised; when I see new traders don’t concentrate on this issue! Because, it’s one of the most sensitive issue! You can’t expect a good result; when you are using a non-regulated broker!
This trading sector is very much challenging so; expecting any easy success is unrealistic! Till now only 10% traders are making money; so no way if you are a gambler!
Basically; investment isn’t a big deal here; so if you have very small amount to invest in; don’t worry! Here, your trading skill is the key. So, when you have a proper trading knowledge! Then you can make your future!
Risk management is important; but to be a consistent player; you have to make sure first your trading skill; otherwise the final result will be the same!!
Well; when I didn’t use any SL then I suffered a lot! Especially during the high voltage news session; afterwards I realized; there is no way without SL!
In my live trading account I am playing with 1:100 trading leverage but I have plan on gold trading since; I got below 60% success ratio on this metal! Major FX trading pairs are my main area of trading!
But till now demo is the best option to start with; if traders are unable to concentrate in demo; then cent type live account is better way to move on!
I am using SL so sincerely besides; my average risk reward ratio is below the 2% so; I think, I’ll never face MC in my trading! By the way, if I face MC then surely I’ll invest once again since; Forex is my main source of income!
Your trading skill is the key; your broker can’t ensure your profit; they only can ensure a good trading environment nothing else! This is why; knowledge is the solution!