Discusión iDRAW

Nord FX Broker Review.

Application - funding- customer support: It was all easy and my accounts were up and running in no time.

 I am always testing brokers and this broker caught my eye because they offer several account options and MT4 multi terminal.

 I funded this micro account and funded two Std accounts.

 As advertised, their spreads are low on their Std accounts, but once I funded the accounts and realized they are on a 4 decimal system but advertise a 1.6 Spread on EurUsd, I pulled my funds without testing their std accounts.( Easy Withdraw, No problems)

They Stated:
 ''Dynamic spreads from 1 pips;'' I contacted their customer support and asked for an explanation. They said ' Dynamic means Floating spreads'. Ok. I guess I am new to this. When I logged in, it was early Asian session and EU and GU, floated from 2-5 pips. Hmmm... I never saw the 1.6 which would be impossible with a 4 digit system and the concept of floating spreads with a 4 digit system did not make any sense to me. They said if I wanted 5th decimal, I would have to use their ECN. Which is not a problem. However, there are other brokers that I trust more than this one.

iDRAW- Semi-Automated Trading System.

I am a scalper at heart for several reasons.
1. In and Out = little market exposure
2. No overnight stress
3. Smaller Stoploss
4. I am more confident

However, I can do swing trades with iDraw. This tool offers me flexibility, automation, precision and Easier swing trade setups, than just using market orders. This tool adjusts my pending orders accordingly to market volatility. I can determine when I want my pending orders to enter the market and how much exposure I am willing to accept before executing my orders. This is all very important for profitable swing trades.

This account is setup for primarily swing trades. This account's balance does not allow me much room for error and one bad swing trade can easily blow this account. Thats the Purpose actually. Not to blow my account, but to display my swing trade ability with iDraw.

I may have to do some scalping in order to save this account if my swing trades have a drawdown. I may also use hedging to offset market exposure while giving me more time to manage the open positions.

I hope this is a big success, but with more market exposure and a very limited amount of capital ( I will not Add more funds, If this account blows, then its dust.) the outcome will be very unpredictable as anything can happen at any moment.

Wish me luck, and feel free to add comments and Questions about iDraw below.

I will always have a Stoploss and Take profit On my side. I will be using iMANAGE order closer to manage all my open positions.

The iMANAGE will adjust my Stoploss and take profit automatically. However, I will not be able to use more than the smallest lot size until this account reaches $100 or more. So, there will be No partial lots at this time. As the accounts grow, I will have the opportunity to use partial lots and more break even strategies. For the Time being, it will either be a profit or loss. With a few breakeven +1 to 10 in the middle.

My Take Profits will be small for the time being, as growing this accounts equity is vital in the beginning stages. Once I have more room for drawdown, I will increase the swing trade profits and look for longer term swing trades.

What happened? System is private.

A 40 pip drawdown on GBPCHF and a CHF news release had me ready to delete this account after linking it within the first 1 hour🙄

But I was able to get a BE and I'm calling it a night. This account is going to be very hard to keep it alive to say the least.

1 pip = 1% or almost equivalent. so a 40-50 Sl will really vaporize this account.

I really wish FXbook would hurry up and add this feature.

https://www.myfxbook.com/community/suggestion-box/pip-movement-distance/38553,1

Add some Votes and show some interest in this feature. It would really improve transparency and also help us determine DD for each trade.