Online foreign exchange trading
May 10, 2007 5:49am CST
I am planning to start foreign exchange trading online. But it is something that needs really significant investment and I want to know everything there is to know before I start anything. So do any of you here have done some online trading? I plan to study and even take some course on it but tips from your experiences would be more that helpful.
• United States
15 May 07
Trading the forex is boring. It is a good way to learn about your inner self. I use oanda.com, forex.com and fxsol.com as my brokers. They all have their pros and cons. Oanda has the most currency paris and lowest spreads. fxsol has 400:1 leverage. forex.com pays high carry trade interest. I have not found a good broker as of yet. If anybody thinks they have a really good broker, please let me know. also check out forexbastards.com This guy has a huge cult following. There are reviews on brokers, education and a lot of useful tools.
• United States
16 May 07
No. That is the point. The more boring it is and the less trades I make, the more profitable my fund becomes. I have gotten it down to a mathematical equation, a forex science. I have taken emotion out of the equation. It is the only way I know to survive.
13 May 07
if you want to learn more about forex and take courses...then you should look into this forum...www.pinoymoneytalk.com/forum/index.php?board=117.0. and yes...forex trading is very risky...so you really need to practice a lot before you start trading.
10 May 07
forex trading is not for everybody. If you have the time to study, practice consistently, focus, discipline, emotional as well as psychological capacity, eventually you will get there. Winning in forex is not gambling but always an intelligent decision, technical and fundamental analysis. If you decision is not right, always have a stop loss, manage your losses and ride on your profits. Make your own trading plan and stick with it. Forex is not easy money but studying smartly and not just reading any books that's available and free. You must know the right resources that would really help you out.
11 May 07
I agree with you and I really hate gambling. So far I find the concepts and things that I have read in forex trading understandable. Maybe its because of my training as an accountant since I'm used to making analysis, projections and plans. I am confident that I have what it takes to make a success out of it and I am determined to know whatever there is to know that is why I am asking those of you here who have done it because not everything that one needs to know is found in the books.