Discussion in 'Forex' started by kirk0604, Jan 19, 2007.

  1. kirk0604


    I'm new to forex trading, can someone point me in the right direction for some good info. I've tried a demo but don't know if there are any charts or indicators or anything. Thanks very much.
  2. The first n foremost thing u got to remember:


    meaning your own money involved.

    Speaking practically:
    1.find a SIMPLE book on fx to get an overview demo
    3.start real trades with LOWEST lots your broker allows u to

    ...all that I said cause U KNOW NOT U'RE DOING WHAT!!!!

    Learning- only way. Here n everywhere. Believe me. I'm not new.
  3. Forex is one of the hardest derivatives to master, minute to minute sentiment changes frequently versus other derivatives. It is far easier to make money in other derivatives, since sentiment stability, has longer periods of unidirectionality.

    Brownian motion of price in forex, is in huge bands, thus price is a range versus a point. That range in price shifts week to week, and has some trend patterns associated with it.

    Knowing this you can only enter at the bottom of price ranges, with the direction of the weekly trend. The stops have to be large enough at the bottom that they dont get hit on random fluctuations. When stops get hit, it has to signify change in weekly trends.

    I would trade it with a fractional lot for a year or so. To train your mind for most of the the circumstances that will befall you in this market.

    I trade it mainly because its open 24/7 most of the week.