In search of a little truth

[jtrader60]

I'm not new to trading, having done the emini previusly. But now I'm anxious to learn about the wonderful world of Forex. Initial due diligence and research ...WILL GIVE YOU A HEADACHE.

I know ya gotta have a broker. I've been highly recommended to Interbank fx. But I've also read many forum posts that are less than positive about them. FAR less than positive. I need to know that my demo mode is not rigged and is a reasonable reflection of a live account.

Also need assurance that when I enter a stop and need to leave my computer for 1/2 hour or so, that the stop will be reasonably honored should it be triggered.

The 2 systems that have impressed me the most have been Stealth and Trend Forex. I'm now reading here that Trend is just a fancied up version of HMA, which supposedly is free.

My take on this is that one trades no more than 5% of account balance and that 50:1 leverage is aggressive. And that if one chooses to use a "system", one park their ego and emotion and FOLLOWS the system. I also figure going in that the VERY BEST I'm going to do is be profitable on 4 out of 5 trades.

Serious, well-intended advice welcome. Please be nice.

[fulltime247]

IBFX is sweet. the do minor data smoothing and widen spreads at newstime but they pay promptly and your money is safe with them. youll like them if you dont trade news.

[forexflash]

Backtesting and forward testing of EA's is virtually
useless for purposes other than debugging code logic. The
price action data feed of a live account is manipulated by
the broker. Brokers use computer monitored algorithms to
randomly squash the amplitude of true price volatility to
fake out EA indicators and trade logic.
Your trading activities are absolutely and continuously on
the radar of your broker, and traders that are too
profitable are unknowingly subject to more stringent price
manipulation techniques.

In most cases, news induced tower bars are nothing
more than volatility responses to trader greed and have
nothing to due with any real economic impact of the news
on the underlying currencies. The currency price usually
settles down and returns to it's mean value after the
news.

The only EA trading methodologies that have a lick and
a promise of succeeding are based on creative straddle,
hedging or countertrend order placement techniques. All
others will eventually fail.