Years ago when I started trading Forex I used Tallinex but this was before the US cracked down on almost all of the overseas or offshore Forex brokers. After a brief hiatus from licking my wounds due to over-trading I am back in the game of Forex.
You can see from here as to how I ran up my previous account from $4,000 up to over $20,000 https://www.myfxbook.com/portfolio/mr-perfect/2141046 ……….. then lost most of it down to $800 but ran that up to almost $4,000 before over-trading again.
1:50 What?
I would like better leverage than 1:50 because before I had 1:400 and that worked out well for me. 1:50 is the best that the US Forex brokers are allowed to offer at the moment. I thought about going with an overseas/offshore broker that offered 1:400 but to be honest I just don’t trust them. Tallinex seemed decent and didn’t cause any issues but then they suddenly transferred my account to some Forex broker name Capital City Markets who I had never heard of before. I didn’t experience anything negative with CCM but something with the whole ordeal didn’t sit right with me.
With 1:50 leverage I have to be much more patient which is what ended up destroying my last account (lack of patience). I can’t jump in at levels I did before and trade as many pairs at one time as I did before. So I am taking it slow and only getting in at extreme levels while testing to see how much margin it takes up. From there I will start to expand a little but for the next month my #1 goal is to make sure I have a good handle on how aggressively I can enter trades.
You can read about how I trade here:
The New Forex Broker
This time I looked into Tradersway and a couple of other non-US brokers but in the end I went with Forex.com. It came down between Oanda and them as far as US brokers I was looking at using. Maybe I’ll open a funded account with Oanda as well one day but right now I am with Forex.com.
I’ll probably link that account to MyFxBook so everyone can watch the account grow. This time I learned from my past mistakes and am looking forward to watching this account grow.
