SuperForex is licensed by the International Financial Services Commission (IFSC) and is one of the largest Forex brokers worldwide. Are you happy to shoot for a high return on your risk or would you rather target a smaller return per trade and hope that your strike rate leads to long-term profitability?When you consider your money management strategy you’ll want to see a close correlation between your long-term profit target (set against your total capital) and your ideal risk-reward ratio per trade.
The closer the system’s performance during the forward testing is to its performance during the backtesting the more robust the system and the more confident you can be that it will continue to trade in a similar manner during the real-time trading.
Some of the advanced tweaks you can apply to your strategy include: setting the amount being traded as lot size or as percent of your total account; adding to, removing from or reversing a position; stop loss and take profit values; and even setting a precise time for making deals (say 10 a.m.). The possibilities are innumerable as Forex Strategy Trader has more than 100 indicators in store and tons of logical options for each of them.
The win ratio of a system like this, which focuses on quickly closing losing trades while keeping winning trades open until the trend reverses, is around 35 to 40%, but winning trades will be larger than losing ones, so the risk-reward ratio is at least 1:2.5 or 3. In the long run, you will make money with such statistics.
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Forex provides a less capital intensive way to day trade.While the capital requirement is far less trading forex, traders still should not start trading unless they have enough capital to do so. Starting with $1,000 or more is recommended, $3000 or more is preferable.
Forex brokers range widely from the highly reputable and well regulated firms like or FxPro, handling many accounts honorably, to those engaging in questionable pricing and order execution practices, to outright fraud in some cases, like Refco, a highly publicized bankruptcy of a forex and commodities broker that attempted to hide $430 million in bad debts from investors and clients.