newbie @ forex

Discussion in 'Forex' started by ChrisMMM, Jul 27, 2007.

  1. I really have never entered the forex arena, but I'm interested in downloading the data and seeing how it works with my current systems for futures and stocks.

    But I see action on these suckers all the time. like for the US stock markets you want to trade from 930 to 400 EST. is there a rule like that for forex trading???

    also, other question how liquid are these things? can you day trade them realistically without slippage killing you?

    1 min ? 5 min ? 15 min?

    also, I'm on tradestation downloading forex data. WHy is volume 0???
  2. No - 24 hour movement. No slippage unless you're trading >100 lots ($10MM), very liquid. Start with weekly charts, then daily, then 4H, then 1H. I wouldn't go below 1H, it's mostly noise. There is no volume reporting in FX, everything is OTC, all you see is bid/ask.

    All of your questions can be answered in much more detail in any decent forex trading book, which there should be plenty at your local library and/or bookstore. Not trying to be rude at all, just that you need to learn everything from the ground up before you get your feet wet in this market. ET can offer tips, but not the entire FX education that you need at this stage. Good luck in your endeavors. :)
  3. I have seen leverage offers vary tremendously. How much leverage is reasonable for a beginnner with a smaller account?
  4. sim03



    1.1:1 is 0.1 too much for a beginner, regardless of account size.

    When you were learning how to drive as a teenager, did you jump in your (friend's) parents' nice car while they were away, headed straight for the freeway and put the pedal to the metal? Thought so. Bueller?... Bueller?...
  5. well is it or is it not realistic to be able to day trade forex? I know that you think it's just a ton of noize, is it fesable to get in and out of the market with minimal slippage?