If you are serious about trading currencies, my advice is to trade currency futures -- stay away from all of the bucket shops out there. I think it is safe to say no one on ET was profitable right off the bat. That being said, you really should have a steady source of income to fund your trading. People learn through their mistakes, and mistakes made in this business cost $$.
Does it really need explaining? You're planning on trading currencies so learn about currencies and learn about trading. What makes currencies move, who moves them, correlations (between pairs and other markets), interest rate futures, technical analysis, fundamentals, money management, risk control, probabilities, risk:reward, win:lose, psychology......there's a wealth of free information out there. When you think you have a handle on it then open a demo account and give it a go. If you're profitable open a small live account, scale up when you're consistent, make a ton of money and ultimately rule the world. There, how about that for a syllabus? If you're waiting for someone to hand it to you on a plate then you'll probably be waiting a long time! In your own words "You`ll be surprised how much knowledge you need to build an excellent house from start to finish."
it's cold/original in the first two posts of this thread. why must you guys respond to these threads.
Thought as much which is why I suggested 'Johnny' and 'Jasonn' got together but Ivan deleted my post for some reason You never know it may serve as help to someone genuinely looking to get into trading the markets (God help them!)
That's the rub. NO ONE is making money trading forex over the longer term, NO ONE, except the dealer that is. If you have a real edge, you can win till the dealer finds you out, and changes the game. This has nothing to do with trading skill. Give up now kid. CP
Exactly, Mr. Joab. Now, I see FXCM is having micro accounts so they can finish off the 1000's of under $100.00 accounts on their books. they went from offering nickel slot machines to now penny slot machine to scrape the bottom of degenerate gamblers--- imagine someone trading FX for .05cents a pip!! how degenerate addicted would you have to be to trade in this manner?? Now dont get me wrong, you can beat the dealer sometimes but only in the short term. Plus, you can catch a trend and make tons of $$--however is this simply luck. there is NO SKILL whatsoever. The best you can hope for in Forex, with skill, is to simply slow your inevitable demise-- if you trade actively. CPW
Ok, "Johnny". You can choose a career job that will slowly kill you or your best bet would be to choose trading that will quickly kill you, just to get it over with. Feed the market.