AAFX Trading 1:2000 leverage. Does it really work? Reviews?

#12
LOL, a bit far from the final destination, but moving towards. To put it briefly, the first deal went fine, and you were quite right, this was really difficult emotionally. Sure enough I couldn’t simply turn off the screen, so I’ve got some grey hair now. It didn’t go that well further.
I decided to withdraw $250, cuz to tell the truth, some of the messages here got me alert about broker’s intentions. It turned out I can withdraw only $100 to the credit card that I’ve used for depositing. It got me even more alert. I’ve withdrawn $100 and decided to withdraw another $150 using e-payments. I had to register skrill for this purpose. The new payment method took a little while to verify and while the verification was in the process, the number of grey hair kept increasing. A few days ago $150 have arrived finally. But skrill takes its commission, so next time I’ll prefer to collect more money on the account and withdraw using a bank wire.
 
#13
Good to know! Glad it all worked out well finally and at least you’ve got your deposit back non-problematically. I know this is a common practice for brokers to withdraw up to 100% of the initial deposit using the same credit card (it’s considered to be a refund). So that’s normal.
Did you trade with the remaining money on account?
 
#14
Frankly speaking, I didn’t want to trade until I get the profit money. Any broker can return the initial deposit. Not all of them would let you withdraw the profits. And the whole thing.. I mean how it works and all these troubles with changing the payment method - this all got me so nervous that I’ve taken a short break here with trading.
I do plan to continue. The only thing, I don’t want to use the huge leverage anymore. It was my pure luck that it all ended up find and I see now that idea is not that brilliant and has got many drawbacks. I don’t suggest trying the approach on your own account. Even though the temptation is there.
 
#15
That was very nice of you to say that. Newbies could have read this thread and start thinking trading is that simple that you can turn $100 into $500 overnight.
This is true, but you must be aware that the risks are much greater. What chances have you got there to get a winning trade? 1:3? 1:5? even less than that? Looks like the loss probability exceeded the win probability.
 
#16
That was very nice of you to say that. Newbies could have read this thread and start thinking trading is that simple that you can turn $100 into $500 overnight.
This is true, but you must be aware that the risks are much greater. What chances have you got there to get a winning trade? 1:3? 1:5? even less than that? Looks like the loss probability exceeded the win probability.
Well, I don't reall ywant to disclose all the strategy details, yet, the risk to loss probability was very close to 1:1. I didn't trade in a middle of nowhere and used the levels that I knew could produce at least some kind of a bounce off. That's an importnat thing to consider. We are not flipping the coins here.
Yet, knowing none of TA that's probably not the best idea in the world to follow my example, that's why I've mentioned that above.
 
#17
Have you heard of a study, which discussed the emotional reaction of people to risk probability and profit probabilty.
Scientists questioned many people. They told them they have a chance to win a $1000. They asked them whether they would prefer 100% probability to win $500, or 50% probability to win $1000. 84% of people said they'd prefer a guaranteed win.
Next they questioned the same people if they had a chance to win $2000, what would they prefer: a 50% risk to lose $1000 or a 100% chance to lose $500. Over 70% of people have chosen a riskier first option.
 
#18
Exactly. People tend to RISK a LOT to minimize losses, yet they don't want to risk to improve the gains. This is why very few people a capable to trade or run a business. Yet, awareness of this logical fallacy can help. That's what I did withthis risky trade myself. And yeah, I plan to trade again. Good that AAFX has got a negative balance protection, but now I'd prefer a bit calmer trading style.
 
#19
That's an interesting topic that you''ve guys discussed here.
It made me think about the recent business lockdowns because of the disease that has less than 1% death probablility. People have lost A LOT. Many of them even died because of home abuse, suisides caused by financial troubles and loneliness, etc.
I wish more people studied risk analysis at school. More of a business logic and entrepreneurship wouldn't hurt either.
BTW I've always wanted to ask, did you ever consider investments instead of active trading? Looks like AAFX specializez on stocks CFDs - that can be an opportunity to start an investment carer with a small deposit size and a nice leverage.
 
#20
I can't say I've never considered this path. I think each one of us did at some point :)
But I think investing requires a lot of patience and I'm not ready to spend couple hours a day meditating to control the urge to interfere in once taken investment decisions.
Moreover, the leverage is not that big forstocks at AAFX. YOu can't really get 1:2000 for stocks.
 

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