Currency

I'm trying to get into the currency market. Do you guys have any recommendations as far as currency brokers, charting services, and strategies? Thanks for your help.

Andy

 

Futures or Cash FX?

 

FX. So far I have found www.fxcm.com and www.forex-gci.com They're pretty much the same, but GCI offers precious metals as well.

I was wondering if Level 2 screens are available for currencies. Esignal seems like a good program, but the price is a bit too steep. GCI offers Esignal for free as long as you have over 50 trades per month.

Any thoughts?

Andy

 

any thoughts?

only one - prepare to have your bank account emptied out!

 

FX can be extremly profitable, but if you are on the wrong side then high leverage will empty your trading account in a minutes.
I trade at FXCM for more than 1,5 years and haven't had any problem yet. They are good for daytrayding - no slippage at all, no comission, competitive spread. Trading terminal is reliable and simple to use. Withdrawal - maximum 2 working days and profit is on my bank account.
Anyway - first try demo trading.

 

Flynn,

For daytrading, which website would you recommend for real-time data? Thanks for your comments,

Andy

 

I use
http://www.cqg.com/
You can also try
http://www.pcquote.com
http://www.esignal.com/www2.stm

 

Are there any books that you found helpful relating to currencies?

Thanks,
Andy62279@yahoo.com

 

Stevet, Your realism bites

 

With 100 : 1 leverage, you do the math, how much the price should go against you to totally wipe out your account.