Over the last few days I have been using a demo account with a couple of Forex traders to test a couple different strategies, copy trading and the use of EA’s (expert advisor) I am still getting my head around the different settings that you can adjust on the EA and how they will effect my trading results.
I have had some very good trading results using the social trading method where by the system automatically copies a trader that I have set, some traders and EA’s charge a fee for there service but there are also a number of free services out there to get you started. be careful with the free services as most of them focus on one or two pairs and may only buy or sell.
The way I am looking at this is that if I was to go out and have a night at a blackjack table I could drop $100 and maybe $50 on roulette or the pokies (slot machines) so why not give trading a go and spend the night at home instead. On the flip side I am also looking at the possibility of opening an affiliate account with a couple of these traders to potentially increase my earnings even more. The question from there is how would I spend my affiliate income, do I reinvest into trading or spend it elsewhere?
Over the next couple of days I will open a real account and start trading I will keep you all up to date with the results