Discussion in 'Forex' started by jebara, Dec 14, 2003.

  1. jebara

    jebara Guest

    Hey i have been trading stocks and option, and suggestions on books to read or info. Looking to start for the first time trading in the forex market.
  2. Jebara: Presuming you mean you want suggestions and books to begin trading forex, try search type: forex; currency trading; etc.

    Starting out with a demo is good as well.

    In your stock trading you are trading companies. With forex you are trading countries.

  3. ramora


    Hi Jebara,

    I have been trading fx and futures for several years. My wife said she wanted to learn how to trade and the plan we are using to get her up to speed is:

    1. Use free Oanda FXGame which is the same user interface as their 'real' trading client.

    2. Then begin trading EURUSD with a lot size of 500. This means 1 pip = 5 cents.

    Slowly increase lot size as experience and comfort level increases. We plan 6-18 months (if ever) before she will increase lot size to 10000....

    After a few weeks she has started actual trading with small lots.

    I had several VCR tapes and seminars that she watched. And we both went to eSignal and Tradestation seminars when they were in San Francisco. Both have good intro to trading sales seminars.

    Don't pay for anything on the web as it is junk.

    Monitor the following forums and sites:
    EliteTrader -- sometimes helpful forex pros very helpful forex beginners for the most part (not so helpful) goldbugs! most thunder and lightening (just for fun)! - good portal to a lot of fx stuff

    If you just gotta spend money, get Stock & Commodities magazine's CDROM which contains all of its past issues. It has 15 years of articles that cover just about anything you are going to get in a seminar. Good reference as well....

    Don't spend any more time 'papertrading' than you need to understand your trading software.

    Good luck!