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| Forex - Anyone here trade? |
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| RJ DRIVER:
Anyone here trade Forex. I've been interested in getting started in the market for a while and I'm looking for suggestions. Any reliabel brokers with easy to use patforms. All hints tips and suggestions are appreciated. |
| sync pulse:
Forex seems too good to be true...While there certainly are speculators who make money, most don't. |
| Straw Man:
--- Quote from: sync pulse on June 20, 2009, 05:37:36 PM ---Forex seems too good to be true...While there certainly are speculators who make money, most don't. --- End quote --- I thought the same thing but I swear this is a true story. A very good friend of mine (with no trading experience) took a 50k acct and ran it up to over 2 million in ~ 5 months. The story is even more incredible than that. First he took 25k and lost it all. Then he took his last 50k out of a retirement acct and ran it up to almost 3 million in a few months, then back down to just over a million and then back up to a bit over 2 million. I'd call bullshit too but I know this for a fact. I've traded Tbond/TNote futures, options and stocks and I know how hard it is to be successful. I've been dabbling (key word) with a simulated trading acct with Forex.com and I've read a few books on the topic, with this one being the best by far (so far): http://www.amazon.com/Beat-Forex-Dealer-insiders-exchange/dp/0470722088 The simulated platforms are a huge advantage over when I first started trading in the early 90's. Take your time and practice as much as possible and if you go live consider starting with a mini acct and try to limit yourself to a 10 to 1 margin (even though the forex dealers will give your 100 to 1 or more). |
| RJ DRIVER:
Thanks for the help guys. I'm gonna give that book a try it seems like a good read. I've been dabbling on a demo account with moderate success. I was thinking about a $500-1000 nut. Is that too low or is this a good starting point? |
| Straw Man:
--- Quote from: RJ DRIVER on June 28, 2009, 01:30:05 PM ---Thanks for the help guys. I'm gonna give that book a try it seems like a good read. I've been dabbling on a demo account with moderate success. I was thinking about a $500-1000 nut. Is that too low or is this a good starting point? --- End quote --- way too low to trade even one regular lot start with a mini acct |
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