Hey everyone, my name is Matt, I'm 24 years old and from St. Petersburg, FL. I just moved over from the Trade2win boards and I'm very excited to be here. There is a lot more participation and volume here and I have briefly scanned through some of the journals and threads and I am impressed with the vast array of knowledge here. I am relatively new to the Forex world, I'm currently an estate planner (studying for my Series 6 license at the moment ). I love the challenges of forex trading and I am looking forward to becoming a full time forex trading within the next 15 months. In the mean time, I am looking to absorb as much information as possible while not creating any bad habits. I am currently using a metatrader4 demo account and I'm looking to open up a small account of $5,000usd here within the next week. I am looking forward to this challenging adventure and I appreciate everyone's contributions to this board. My only question is is that who in here is a full time forex trader? I have a vast knowledge in financial planning/tax planning and I'd be more than willing to pick some brains and offer my knowledge as well. I also have extensive knowledge in credit repair/building. I want to thank everyone in advance for your support. Happy Trading!
Matt, Hopefully this site can bring in "all the "luck" that you can control! good reading, learning, teaching, posting and sharing....and most of all...Good Trading to you. I hope ET will augment your trading positively as much as it has for me... Michael B.
Matt, ES aka Michael is a very giving guy. He has a great thread, from what I have seen, on trading the forex. You ought to take a look. My only reason for not being a avid follower is my lack of desire to trade the forex at this moment. Maybe he can post a link to it, as I forgot the name of it. Good trading to both of you. Dan
It's a team effort...we are here for 80 to 100 hundred years..I have met many lifetime friends here in ET. http://www.elitetrader.com/vb/showthread.php?s=&threadid=85212
hi matt let me add the following comment you might lose money for a while at first also there are other markets that are worth looking at to trade whatever your timeframe don't believe that "forex" is the only "way to riches" or that you will even get rich trading good luck
i trade forex but my wife threatened to take a baseball bat to my computer screens. so I made a compromise. matt, what have you followed before in terms of trading. I would advise some caution.
matt, hint: You are getting readership that I only dream of...pay attention...sometimes you only get one chance.
Dear Matt, I cringe whenever the words "new trader" and "Forex" are mentioned together. FX markets are widely promoted and appear attractive to the neophyte. <i>Biggest market in the world, no commissions, 24hr trading, mini accounts, etc</i> are part of the media mantra. Many of us who've traded most everything will tell you that FX markets are one of, if not the most difficult to trade. The 24hr thing is not an advantage... it's a disadvantage. Invariably, something will happen while you're away from the screens. Could be stops kicked out and reversal of direction, could be big unrealized profits that revert to original entry or stop-out. Also, currency markets are usually swinging sideways = choppy or outright explosive in trends. There is very little deliberate price action in between, although the same can be said for many stock index markets, too. Long story short, I would suggest that currency = FX markets are the toughest of all to succeed within. Unless you are trading daily or weekly charts for swing = trend trades, individual stocks or emini markets like YM - NQ are much more forgiving to cut your teeth in. Truth is, a lot of struggling FX traders would probably find immediate success just by switching target markets alone. I could elaborate, but there's a lot of stuff archived on FX in here already. Some searching thru old threads will turn up much more detail, I'm sure. Best Trading Wishes