Forex Optimum - review

[Biggi]

Very well said) By the way, has anyone here heard of or used such a bonus with this broker as "insurance deposit"?

 

[Mixtrader]

I tried it but I don't think that they still offer it any more

 

[lenon]

This is the first time I've heard about this, what sort of a bonus is it anyway, what's it's point and how can I get it?

 

[Biggi]

I myself came across it not long ago while surfing the broker sections of the site, the point of it is that when refilling your deposit your broker will deposit a certain amount of money that will keep you from losing your main deposit in the case of a rapid drawdown

 

[rikki]

Wow, I've never even heard of such a bonus, although I've been trading with this broker for over a month, in order to get it do I need to refill my account with a certain amount or is it available without any limitations?

 

[Biggi]

The thing is, I haven't used this bonus yet myself, but according to what the site claims, you need to have an STP standart account with a VIP status....

 

[Derry]

It's not surprising that no one has really heard of this bonus, since you need to have a VIP account, which not nearly every trader has, my goal is to atleast reach premium account status) For now I'm just trading with standart

 

[lenon]

Really cool feature, and it's even cooler that the broker even bothered to realise it, but as it turned out, it's not for everyone, so it's something to strive for)

 

[Biggi]

The last order that was closed on the stop worked very exactly. A correctly put together stop resulted in full profit gain. The broker didn't let us down, stop profit worked out great!

 

[rikki]

Do stops need to be installed anyway? One can trade without them. At one time I traded without stops and nothing bad ever happened.

 

[GazFx]

Do stops need to be installed anyway? One can trade without them. At one time I traded without stops and nothing bad ever happened.

Then you should consider yourself extremely lucky!

 

[Biggi]

You can trade without stops, but there's a risk of draining your full deposit. Do you really need that?

 

[Derry]

That the stops are out doesn't mean that you're doing everything right. There's a proper way of putting them out. Incorrectly put out stops can block you from receiving profit, or even worse - result in losses.

 

[rikki]

I can understand how stop can interfere with receiving profit. That's if the stop is too close to the current price level and the order was closed, but the price keeps moving forward, and doesn't bring profit. What about losses?

 

[Derry]

It's simple, very similar to what you've already written about, but a little different. You set the SL closely, the price makes a move towards it, fixates the loss, and then goes in the direction you thought it would. In that case you get loss instead of profit. Stops must be installed wisely.

 

[Biggi]

That's correct, closely installed stops in bad, but if they're installed to far that's also bad, because there won't be much use of them. If was already mentioned above about how to install them, mainly you must rely on the strategy or on the support and resistance levels.

 

[rikki]

Thank you. I've already undertood the importance of stops. A correctly put out stop will 100% save the deposit from a massive deposit drain and help fixate the profit. But it's important that the broker also works as needed and that the stops would work on time. As far as I know, on optimum everything works just great, since it was written about it above.

 

[Biggi]

There are times when even correctly put out stops don't protect you from a deposit drain. I mean that when there's a gap in the market, then it might skip your SL and the loss will be fixated where the price appears. but no one is insured against that, it's a rarity, but it happens.

 

[rikki]

Anyway, I think for me it's best to trade as I have been trading before, before I found out about stops, but still set SL as a lifesaver on a level where I'm sure the price won't go, in other words, SL acts as a safety.

 

[lenon]

That's your business, but I would recommend you still learn how to install stops properly - it's a good help for traders.