Hi I have been using the demo account on the Alpari system for quite a while now and think I am ready to go live. I am no pro but seem to muddle my way through so that I can make some profit most of the time. I would be lost if anyone went into too much analytical data but I am reading and digesting as fast as I can to learn. At this point I have read loads on the this forum, and not much on Alpari forum as it does not seem that helpful or anywhere near as good as this one. I have been reading the stuff on their site ie FAQ's etc, but I still have loads of questions, probably basic to you guys but I would appreciate your inputs. Here are some,
What difference will I find in using the system going from a demo account to a live one? I have read their answer but I would like to hear the answer from someone who has experienced both, ie problems or differences.
Am I right that the Alpari system is not spread betting and so that will mean I have to pay tax on any income I take?
It says they are covered by the FSA but is there anything I should be aware of with regard to this aspect?
I am not sure if I saying this one right but Spread betting is not really trading the actual shares or currencies if I understand this right so this makes it similar to gambling and would they not react if you won too often and then kept drawing out big profits?
And in the case of Alpari if it is not a spread betting company are you dealing in the actual currencies or does it work the same as in spread betting?
If you are dealing in the actual currencies what would Apari's recation be to drawing large profits on a regular basis?
I have messed about with different volume amounts, ie you can select anything from 0.01 to 8.00 per deal. Is there a way to go bigger than 8 other than placing muliple deals? Will 0.01 to 8.00 be available on the live account?
On the demo account you can set a trailing stop but I have not found this to work well, ie if I am not looking at the screen or do not have the MetaTrader account window open, it is as if I have no trailing stop most of the time ( probably all of the time). Does the trailing stop not actually close the trade? Also I have for example watched the trailing stop raise my stop on a BUY as the price moves up but then move back down with it staying at the same points below the price which is totally useless to me, anyone any ideas on this please?
I notice that is is possible to place BUY's and SEll's on the same pair of currencies at the same time, which you cannot do on spread betting, I assume you can do this on the live account also?
I have tested opening demo accounts with a small balance to more realistically mimic doing it for real but I have noticed that when I have several orders open soon after opening the account, that the balance figure they quote shows a negative figure even though I may have maybe quite good profits in the profit column. I noticed this balance became positive as successful trades were added but what will they do initially when this happens ie would I have to keep it positive so therefore trade less of my account and if it did show a negative even though I had decent profits in the profits column, would they ask for a top up or close deals or what happens?
Will stop losses work out of hours, ie, at the weekend will they still stop me out so that I do not get a shock Monday?
I have more questions but I think that is enough for now otherwise you will look at my post and think its huge and think forget him, he wants to know too much.
Sorry if my questions are basic but I am still learning.
Any help or answers appreciated.
What difference will I find in using the system going from a demo account to a live one? I have read their answer but I would like to hear the answer from someone who has experienced both, ie problems or differences.
Am I right that the Alpari system is not spread betting and so that will mean I have to pay tax on any income I take?
It says they are covered by the FSA but is there anything I should be aware of with regard to this aspect?
I am not sure if I saying this one right but Spread betting is not really trading the actual shares or currencies if I understand this right so this makes it similar to gambling and would they not react if you won too often and then kept drawing out big profits?
And in the case of Alpari if it is not a spread betting company are you dealing in the actual currencies or does it work the same as in spread betting?
If you are dealing in the actual currencies what would Apari's recation be to drawing large profits on a regular basis?
I have messed about with different volume amounts, ie you can select anything from 0.01 to 8.00 per deal. Is there a way to go bigger than 8 other than placing muliple deals? Will 0.01 to 8.00 be available on the live account?
On the demo account you can set a trailing stop but I have not found this to work well, ie if I am not looking at the screen or do not have the MetaTrader account window open, it is as if I have no trailing stop most of the time ( probably all of the time). Does the trailing stop not actually close the trade? Also I have for example watched the trailing stop raise my stop on a BUY as the price moves up but then move back down with it staying at the same points below the price which is totally useless to me, anyone any ideas on this please?
I notice that is is possible to place BUY's and SEll's on the same pair of currencies at the same time, which you cannot do on spread betting, I assume you can do this on the live account also?
I have tested opening demo accounts with a small balance to more realistically mimic doing it for real but I have noticed that when I have several orders open soon after opening the account, that the balance figure they quote shows a negative figure even though I may have maybe quite good profits in the profit column. I noticed this balance became positive as successful trades were added but what will they do initially when this happens ie would I have to keep it positive so therefore trade less of my account and if it did show a negative even though I had decent profits in the profits column, would they ask for a top up or close deals or what happens?
Will stop losses work out of hours, ie, at the weekend will they still stop me out so that I do not get a shock Monday?
I have more questions but I think that is enough for now otherwise you will look at my post and think its huge and think forget him, he wants to know too much.
Sorry if my questions are basic but I am still learning.
Any help or answers appreciated.
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