Hi All
I'm new to FPA and I'm fairly new to Forex but my thing is scalping, it suits my personality and I enjoy it. But I am looking to come off demo and trade in the real world but the broker charges are a bit of a minefield for me. Recently I have been using REMOVED due to their extremely low spreads, seems ideal to me for scalping. But the commission they charge seems high, workable but high.
I tend to TP 10 points per scalp and my method does identify many trades, I can execute 20-30 trades just in a couple of hours in the UK morning.
If I demo 1.0 lots and each trade wins $15 I notice the commission takes $7 from each trade. i.e. I can win 10 trades bringing in $150 but the commission is $70 so brings my profit down to $80. It's still nice demo profit but I don't know if this is industry standard in exchange for very tight spreads.
My question is really whether $7 commission with tight spreads is better than no commission and larger spreads? Is the $7 per trade worth sticking with knowing that the tight spreads allow me more winning scalping trades?
Also does anyone have experience with REMOVED for scalping? They do have some great reviews and seem very user friendly for a beginner.
Any advice/guidance would be much appreciated.
Many thanks in advance
I'm new to FPA and I'm fairly new to Forex but my thing is scalping, it suits my personality and I enjoy it. But I am looking to come off demo and trade in the real world but the broker charges are a bit of a minefield for me. Recently I have been using REMOVED due to their extremely low spreads, seems ideal to me for scalping. But the commission they charge seems high, workable but high.
I tend to TP 10 points per scalp and my method does identify many trades, I can execute 20-30 trades just in a couple of hours in the UK morning.
If I demo 1.0 lots and each trade wins $15 I notice the commission takes $7 from each trade. i.e. I can win 10 trades bringing in $150 but the commission is $70 so brings my profit down to $80. It's still nice demo profit but I don't know if this is industry standard in exchange for very tight spreads.
My question is really whether $7 commission with tight spreads is better than no commission and larger spreads? Is the $7 per trade worth sticking with knowing that the tight spreads allow me more winning scalping trades?
Also does anyone have experience with REMOVED for scalping? They do have some great reviews and seem very user friendly for a beginner.
Any advice/guidance would be much appreciated.
Many thanks in advance