AAFX Trading reviews and opinions

Oh, thx dude. Looking from this point, it's really risky... I see that AAFX offers opportunity to choose the leverage size, so I can start practicing with the lowest one.
 
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I have decided to reboot my trading completely because it seems to me that I’m sleeping, while doing nothing and everything I end up with are drawdowns.
So, I have decided to open one more trading account. I will use my currently existing one to work with one or two assets. On this account, I will hold long-term trades only. I added money to this account. Now I have $400 there.
I opened a new ECN account and deposited $200. I’m going to use it for scalping working with many financial instruments within a day. I think that practicing two styles of trading from time to time will help me to rest from one another and shift my attention to something new.
 
Well, I think it’s not a bad idea. The main thing is that you don’t give up after a series of hardships. By the way, what about leverage? Have you decided to decrease it?
 
I haven’t finished my story. Yes, I have decided to decrease leverage, but I’m going to do this only on one account, a new ECN one that I’m going to use for scalping. Here 1:500 would suffice, I think.
I intend to use different approaches to trading on each account. My first account ($400) will retain its 1:2000 leverage. I plan to be especially cautious on this account. Here I will take into account not only technical analysis,but also fundamental analysis and news, of course. It’s because here I’m going to open trades with 1:2000 and hold them as long as possible.
On another, ECN account, I can afford acting riskier because it’s scalping. Here I will make trades lasting from one minute to an hour but no more.
That’s my plan. I quitted trading for a week. I had a rest and thought a lot and it came to my mind when I felt refreshed.
 
I appreciate this plan. It can be partly criticized, but the good thing is that you are making progress and I feel you are optimistic notwithstanding a series of drawdowns.
 
My approach with diversifying my capital between two trading accounts happened to be right. I diversified not only my funds but also my trading. As I told above, I practice different trading approaches. Now I trade with 1:2000 on my Fixed account rarely and most of the time I scalp on my new ECN account.
For the week, I managed to increase my depo to $370. I traded mostly 0,4 lots and used 0,1 from time to time.
Of course, I could open several trades on the Fixed account with 1:2000, but I missed that opportunity. I hate to enter the market too late. Scalping is another thing. Here I enjoy greater freedom and even can afford to lose more because I know that I will win back.
 
I use 0,4 for major currency pairs and 0,1 for silver and gold. I mean lots on my ECN account of course. These lots are more than enough to work with 1:500. That’s an optimal ratio of risk and profitability for me. I enjoy trading with this broker. Perhaps, I’ll invent a new approach to trading soon.
 
I keep trading on my two accounts. I appreciate a lot that I have more than one trading account. Recently, I have had a difficult situation with EUR/USD. Perhaps, you remember that last Friday was a holiday, namely Good Friday. That day American non-farm was released. It turned out much better than anticipated. The market participants reacted accordingly - the greenback in the pair managed to strengthen, but it was a temporary ascend versus its European counterpart.
On Monday, the trading session started with a flat but it didn’t last for a long time. Euro suddenly started demonstrating an impulse growth versus its American rival. It is still going on. That’s so weird.
 
I have no idea why this happened. Not only non-farm but also a bunch of other positive crucial American news were released, but EUR/USD keeps climbing up. I’m really puzzled because you know that the European Union is failing its vaccination, while America is demonstrating better results in fundamental factors, as follows from the news mentioned above, but nevertheless, Euro behaves like a winner in this situation. I can’t understand this.
Fortunately, I managed to open a long position on my ECN account on this asset. I closed it profitably, with $570 on my ECN account now. I definitely like trading with this broker, but I realize that my knowledge and experience aren’t still impressive.
I heard it was a temporary correction on EUR/USD. I’m a bit disappointed that I opened my trade on this asset on the ECN account and not on my first account with 1:2000. I could have gained more. That was not scalping.
 
Sometimes market participants ignore crucial news and follow the path they chose. That holiday could contribute too. Don’t you remember a recent long-lasting ascend demonstrated by the British pound? Many experts also found now fundamental grounds for that rally, but nevertheless it occured. Besides this, don’t forget about market makers. Their goals rarely match the crowd’s ones.
 
Recently I had a thought to stop scalping and shift to long-term trading. But after a while I thought once again and decided not to do this. Some people find scalping exhausting but I can’t agree with them. I can’t say anything bad about long-term trading, I practice it too, but I don’t take it as a long-awaited escape from scalping. Maybe I have good nerves but scalping doesn’t scare me, although I confess that I still lack knowledge. However, scalping is that thing where the lack of knowledge is less critical compared to long-term trading. It’s all about your concentration and reaction.
 
Even more, I decided to spend more time on scalping. Now I have a short break. But I want to try scalping the whole day long - at least 15 hours. I want to see my result. I want to make the most of it. I temporary give up long-term trading.
By the way, the broker’s 60-second restriction on scalping doesn’t bother me. I never hold trades for less than 60 seconds. As a rule, I hold trades for 3-5 minutes.
 
So, I tried to scalp at least 15 hours a day and now I realize that I’m not a hardcore scalper. It was an extremely exhausting thing for me. I think that scalping for 3-4 hours a day is enough for me. Anything longer will completely exhaust me. The more I scalp the less productivity I demonstrate. For example, I managed to increase my ECN account to $630 only. It’s because I had a big percentage of losing trades and I had to win back. Of course, I ended up in the green area, but I had a feeling that I could lose control. So, I decided to scalp moderately and devote more time to long-term trading. As for scalping, I don’t need to complain about the execution on the ECN account and that 60-second restriction didn’t create obstacles for me, but the problem was in my huge tension.
 
I don’t think that scaling for 15 hours is a good idea. It can only make you go crazy. I personally tried to scalp for five hours and that enormous nervous pressure was too much for me.
Since that time I realized that scalping should be moderate. For example, I scalp on news. When something crucial is released I’m ready to open a trade and scalp from a minute to an hour. Most of the time I hold long-term trades. In this case, I can be nervous when opening a trade. Once it’s in the green area, I can relax.
 
That’s a wise approach. Do you scalp on several assets during news releases?
 
Yeah. When a breaking news is released, I usually scalp on EUR/USD, USD/CHF, AUD/USD, and gold. I would like to include more assets but I physically don’t have time to scalp on more instruments. That’s enough and it suits me.
 
I realized that I don’t need 15-hour scalping. I will not get back to that terrible experience. I decided to practice a universal approach. So, I check out assets every hour and do it for 8 hours and no more. Based on a market situation, I open a trading position and hold it for several minutes or for 8 hours if required. Sometimes I leave a trade open overnight if I have grounds to close it with greater gain tomorrow. Of course, I move take profits accordingly.
So, I just need to check out candlesticks in the beginning and end of each hour and that’s all.
 
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