You can all laugh, which will be expected, but I'm jumping straight into this knowing NOTHING. Awesome huh!?

The bottom-line for me is that I'm not here to make/risk $5000+! I'm here to goof around with a live account of say $100-$200 and would like some basic settings on what I could set it too for autopilot, that is the most risk-free method of making me daily gains of a few dollars here and there. +$5, -$3, +8, +$2, -$4, etc. etc. THAT is the ballpark I wanna be in!!!!

1. What broker is best for cheapskate, low risk guys like me?
2. What settings should I go with within the program?
3. What curriency pairs, etc. ?

THANKS ahead of time......!

all your questions will be answered with the almighty search button!

I've been doing some research for a while and have a few suggestions, which you can either take or drop - it doesn't matter to me.

One of the brokers i think people are trying now is LiteForex because you can start a mini account for $10 if you want and I think they've got OK spreads. At least the spreads in demo are OK.

You might want to just stick with EUR/GBP and EUR/CHF and of course......stay away from the long term strategy until you've got maybe $10k in an account to handle the drawdown.

Settings you should change would be your GMT offset (depending on the broker you choose) and the LRR percentage.

I think that the conservative settings are at:
EUR/GBP LRR 20
EUR/CHF LRR 10

This should get you started without having to dig through pages and pages and pages of info - which I've been doing for months, but don't mind passing along.

I'm about to go live in the next week or 2 after I get my tax return
I'm gonna go with of EUR/GBP LRR 45 and EUR/CHF LRR 15 after seeing positive results on demo for a couple of weeks.
Yea I know that high of LRR is not recommended, but I'm feeling a bit more risk with this thing suits my style.

Hope this helps Adam. Keep in mind though that nothing I say should be set in stone.
You should practice your own due diligence and read around these forums to get a better feel for what works best in your own situation.

i assume you have already got as much knowledge and understanding as possible from demo trading if you want to play with a live account

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I hope everybody has......I've been demo trading since November, just waiting on some extra cash to play with, but I think it's worth it. At least better than a CD or savings account - even with the drawdown.

Yea, im still new and demoing, but ive also heard that liteforex pays out like 3% interst monthly on all uninvested equity..? If thats true, wouldnt it make sense to close all trades for the last day of the month and wait for some "free" monies?

And hey, feel free to laugh at me too, not like it hasnt happened before right, lol

Hi,

I am also new to forex, but I came to know something from fap turbo to megadroid to LRR to brokers , by just reading from here and there and I am using demo accounts of 5 brokers (simultaneously through VPS) since 2 weeeks.

My suggestion would be
brokers - go for brokers who support micro lot for small account like Alpari UK , but minimum amount is $500 to open for micro account.
The typical settings for EURGBP is 20 and EURCHF is 10 for conservative risk.
But if we have a very small account, I can suggest to take very less risk like 5 and 2 respectively. Just follow the trend and then slowly increase it, otherwise, account could be vanish by just 2 trades.

The two major pairs are EURGBP and EURCHF.
FAPT 49 introduced a new pair USFCHF, which looks good, ( I am using last 2 days and got 2% profit), you can try this one but not on live account, because it is not yet proved with many people in live account. Do not take risk.

Hope this will help you.

Thanks,
Pramod.