rjjr, The bantor between lliquid and I should no be misunderstood. The guy knows his trading.... Michael B.
Electric, I think it may come down to the same issue marketsurfer brought up about trend following and whether or not it was the actual "edge" vs what profitable traders believed -- in the end, a moot point. In any case, I made the first post because of similar "selling points" I've encountered with multiple fx brokers who didn't exactly come across as 'kosher' to give rjjr a heads up, that's all.
I opened a demo account at a forex trading site. Their are only 20 pairs or whatever their called on the screen. Are these basically all the currency pairs involved in forex. If it is it must be a lot easier to trade since I would spend less time searching through hundreds of stocks just to find one or two good ones.
Saxo Bank has over 100 paris. GFT Forex has over 50 as I recall. But, for learning, you may want to only trade pairs whose spreads are not too wide, maybe up to 20-pips. I think the max on the 17-pairs I trade live is 15 points wide. Go ahead, call me "shark-bait." Hey, I gottah make my pips off of someone!
Cable is right. You have to pay your dues. Like, for instance, I've been being tortured by this GBP/USD long trade I'm in. Can you imagine, one of my trades is almost 2000-points down?? This is the deepest "hole" I've ever been in. Don't get me wrong, it's planned (my Deep Hole Trading structure) but still.... A lot of guys can't handle being 20-points down! And this NEW long cable trade I entered... I opened it (back up yet again) at 1.7448. Market just hit 1.7364. I'm bailin' out of it every 100-points (then re-entering). The losses! LMAO Am I always on the wrong side of "the big move??" Sometimes it's felt like I'm just gonna have all my money SUCKED down the global forex toilet bowl. Where am I gonna end up?? 3000-points down?? *busts up laughing* Coinz
when i read the CoInZ i laugh..this guy is so S.....that he shoots faster than his shadow..he lacks affection he reminds me the guy of "catch me if you can"....
whats the big deal about fx? if you cant trade, you cant trade. end of. start from a businessmans perspective first: 1/ seek good business partners (brokers) 2/ learn about the (general trading) industry 3/ keep costs low so, looking at fx we conclude that... 1/ you cant get a good business partner cos they are all sharks and profit from your loss. 2/ research how these muppets fuck all day with their quotes to fuck YOU over 3/ why pay $30 a spread, when you can trade for $17.5 a spread on average with futures including commission, AND get an HONEST RELIABLE broker you wont be able to trade as many fx markets with futures, but if you are learning, it may be best to specialize in one or 2 markets anyway. you also have the benefit of being able to trade and chose other markets like commodities, stock index, fixed income etc which may be better than fx i have spoken.
To RJJR, Pay as little attention as possible to the above poster. Saxo Bank, whom the poster is shilling for, is one of the fx dealing bucketshops that veteran posters warn novices about. Here's some of that wise advice on another current thread this forum: "Spot FX - touted as commission free, when you calculate the cash on the pip spread made by the bucketshop on each trade, you are realise that you are being given a right royal shafting." And: "Spot fx has some secret guaranteed return system unavailable or heretofore undiscovered by those trading futures. The only catch is that it apparently doesn't seem to work with one's own capital."
Same boat as RJJR - where to start? Good brokers anyone? I want to paper trade for a long time, first.
from reading skalpz many posts of his demo account, OANDA is the best game account because it doesn't expire. hope this helps/