Need a new idea

its not hard, just the hours sucked. Forex with oanda i'd trade 10pm est till about 3 am. Or just scale down and trade bigger moves. All in all forex sucks bc of the 24 hour market. Once u get some confidence and know you can start making money switch to futures. The hours aren't nearly as bad and schedule ur classes after 1240 pm if you can. Trade 930-1200 you should be ok. Party meet chicks whatever after 12pm.

 

You'll need to find an edge. Your dad makes money because he's got the pit/info/time edge. If you want to make a career out of trading on the screen, you'll need to find an applicable edge there. Very little edge available in retail spot forex, except for maybe a couple statistical arbs, and if you consider the carry trade an option (you will need huge capital to make any kind of real money). Btw, I'm 18 too going to college in the fall, good luck.

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http://themarkettruth.blogspot.com/

 

ig0r, you're only 18. Very impressive!!

 

Exactly.

Funny how people will say "Don't have enough money to daytrade stocks? Open a forex account", or go trade corn contracts, as if they were one and the same. You might be able to eke out an edge if you're fast reading the tape and gauging the specialist/mm's on NYSE or nasdaq, but tick-reading is near impossible on currency futures and it certainly won't work on a broker "assisted" market like forex.

You're young, might as well try everything while you can but eventually pick a market you think you'd be interested in and learn it inside out.

 

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Thats a good laugh''broker assisted forex'';
and until you learn to trade, try to avoid leverage unless its OPM.

JD i dont know why so many of us traded too large[me too];
and blew up our accounts;
trading smaller =much cheaper education.

Interesting you parents dont want you trading during college;
probably right about it interfering with ed.



A wise son makes a glad father .-Solomon,trader king

 

Cause back then we know how to enjoy life. Kids these days, all they can think of is money. I remember then the challenge was how to get laid without having lots of money.

 

you don't need much money. you need to some how convince them you have money.



drive by a nice neighborhood & point out the house that's under construction & say.... they're behind schedule... so i have to crash at a buddy's place.

by the time she figures it out, you've already gotten what you wanted. and you should let go of that position

bam! take it up a notch!:eek:

 

I'll be opening a forex account this summer. I'll probably put around 1k in it. Any ideas on a good broker? I've some demos offered by Oanda and Forex.com.

 

I'm sure there will be prop houses just queing up to take a guy like you

 

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