Since you are so fixated on this issue here is my last advise to you - you should possibly look into trading options at Oanda. In this case you are garanteed of not losing more than their purchase cost. I rest my case.
qkishot, I think it is irresponsible for you to "rest your case". I think you should warn people that you had no idea what you were talking about. If you don't, they might believe what you said, and then suffer financial ruin as a result.
Hell yes, you can lose everything, in forex, big time, even quicker than the stock market. make sure you have a iron clad strategy that you have proven before you even start trading. Or you will get wiped out. Either with margin calls. And forex brokers, charge you right away they don't give you a margin call. Either via credit card or bank account.
You can lose more than money! You could lose your mind! Seriously...if you have to ask such a question then you are clearly not ready for trading or the problems that trading can bring. Scared money etc..
I don't trade with scared money. I'm not worried if I'm losing the money I start trading with, that's my risk capital and I expect them to be at risk. I am however worried about my assets. Those are not risk capital. Therefore I need to be sure they are not at risk. Anybody has any experience like this? Having to pay for a defficit ballance account in forex? Anybody heard anything like that happening?
Yes, I have read newspaper articles about people who were sued, and who lost everything they had, because they got involved with trading FX on margin, and didn't understand the risks. I can't give you citations or links because I saw this a long time ago, at some point in the last 2 or 3 years. I think that the responses in this thread should have already answered your question, but that your gambling fever makes you unwilling to accept the reality of the situation. I think you are looking for an enabler, somebody who will convincingly reassure you that it is OK to take risks without first understanding them. If you allow gambling fever to separate you from reality, in this fashion, you will never be a successful trader.
One wonders why you dont simply read your brokerage agreement. It spells out your risks (by law it has to). Sounds to me like you have two problems, first you don't have enough experience, so you are anxious. Second, you are probably undercapitalized. Any good professional would suggest that you hold off for a while and get your act together. Trade when you have enough money and a winning game. Until then use the resources that are all around you to get an education. Good luck Steve
I don't have experience, and I am undercapitalized. But I have a winning game, that's why I want to get in now, if the risks are resonable. Read the tread "diff between demo and real acc", you'll better understand what I mean.
Doesn't sound quite right. How can you say that you have a winning game if you don't know whether the risks are reasonable? nononsense PS: everybody is 'undercapitalized'
What would happen if there was a major terrorist attack and you were long 5 contracts of ES futures. The stock market could close and then reopen later 20 or 30% down and go right through any stops you might have placed. If you had a trading account of $25,000 that would get wiped out and you would be liable for much more than that. Are there ways that you can protect yourself for this kind of an event?