Wednesday, October 1, 2008

Gaming virtual money on FOREX

By Gjergj
There is a stupid rule in finance: If you have not money, you cannot invest! So, accepting this eternal truth, I have played for last months with virtual money in on line currency trades, using different platforms, like, Saxobank and lately, Some times i have earned virtual money, while some times I have loosed. Anyway, for whom is interested to trade currencies on line, I can advise now to not use FXCM or IBFX if you have to begin trading with small amounts. FXCM accept only big deals, so you should buy at least 10k units of the currency on which you have decided to weigh your fortune. For small amounts up to 3000 dollars, this rule does not permit diversification. This is true also for IBFX. With 3,000 USD account is not possible to open more than three positions, which decrease strongly your chances to earn, while increase the risk of loosing money. The good think in those platforms is that demo accounts are viable permanently, so interested peoples can play as long as they wants. Of course, if you have 100k, you can use effectively FXCM. An old Albanian saying is: “moneys goes to them who already have money”. Anyway, virtual or real, trading currencies is very attractive way of spending spare time. It is exciting.

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