Forex Trading
 

Your experience?

Good, bad, lost ye arse?
:helpme

Go to www.oanda.com

The margin maxes out at 50:1 instead of the normal 200:1 or crazy ass 400:1 BUT you can trade as little as 1 unit. A real mini forex requires 10,000 per contract.

This lets you play in the real market with pennies, 1 unit usually takes a fraction of a cent to pennies to buy, depending on the pair.

There is a forum there if you want to learn more from beginner all the way up to pro.

The only way to get the hang of it is to dive in and see how things work. This will allow you to do so without risking $5000.

Goooooood

just as fun as playing roulette at a casino, and if you are lucky just as profitable :thumbsup

I've got one fun strategy I use (non significant amounts of money) that seems to do great long term. If you end up with Oanda yell at me and I'll explain it.

I would second oanda.com...if I ever were to get into forex myself, that'd be where I'd do it just from looking around, plus my dad and bro have at times gotten into it and they had good experiences there.

That aside, I've had and sold nice forex domains so I like forex even though I've never traded in it, lol.

Good feedback.

I have been doing some reading on it, and thought it may be interesting to play with. I noticed some commercials tonight on the t.v. talking about some practice program you can use to learn.

Oanda has that as well, just uses past data from real markets so it's 'legit'.

#1. Read: BabyPips.com

#2. Forex Broker: MigFX.ch

#3. Develop your own strategy on the demos, remember that the house is betting against you, and be prepared to lose money sometimes. The key is to accept that.

#4. IMHO, your a fish swimming among the sharks that cause the market to move in a certain direction. Do not go against the trend.

#5. Never trade in the first 45 minutes of market news coming out.

Good luck!

I Do alright as well.

1. Good advice.

2. Find a broker that has no dealing desk. NDD / STP. I passed on MIG for that and other reasons.

3. See #2. I have a pattern based hedging strategy, but last years NSA "no hedging" rule forced me overseas... and now the Frank/Dodd financial reform shit has put an end to that account as well. I don't use Oanda because they didn't offer Metatrader.

"be prepared to lose money sometimes. The key is to accept that."

and

"Do not go against the trend."

Excellent advice here!

Get to know the ins/outs of the FOREX brokers. This is why with MIG I dont ever set my STOP LOSS with them.

I tried it out. The first day I made $800. The three days after that I lost $3000.
It is pretty much random and it's not worth the stomach ache. Also, big corporations use software to skim money from it. It is not a game to be played by smaller guys.

It's not easy money.

Thats my recent performance:
http://www.myfxbook.com/members/fsm247/triple-xxx/54635

I know its not even 2 months, but I traded this strategy on a different broker before, so I can not put results on MyFxbook.
If you are interested let me know.
I have been trading forex for over 3 years now and only recently started seeing the light.

Also I can recommend Oanda (this account is now being traded on Oanda - FXManager) and Babypips. Good read if you really want to get into Forex trading.

That being said, it is definitely not easy money, not riskfree and not a get rich quick scheme. But if you know what you are doing, the sky is the limit.

http://i.imgur.com/X7Srg.jpg

:1orglaugh :1orglaugh

Amount is insignificant so did not make me rich. My last big trade I went long on Euro / USD right before the meltdown and fucking forgot about it. I logged back in 1.5 years later to a big ass surprise.

I have a few forex affiliate sites I created a while back. I need to work on them a bit more. LATAM forex market is growing fast.

It's great if you know what you're doing. Trading Forex is complex though, more so than stocks. Many more factors affect the price of currencies, than stocks.

Like everything in life, Forex trading is simple. All you need to do is to anticipate a new trend, up or down. And here's how:

http://www.forex.com/uk/short_term_trends.html

Outstanding story.
:thumbsup

i made a decent amount of money trading until they changed some of the rules and then i got out.

if you are trying to make it a full time job, it can be very stressful....



.

I'm working on some expert advisors at the moment (forex robots)... this could be a good starting point if you have no idea about EA-s...

http://www.expertadvisorforex.net/

and about the strategy... I was searching a lot and reading a lot and (IMO) this is my choice:

http://www.fxtradingstrategy.com/