Foreign Exchange Trading

[Ucsspirit]

I have been looking at getting into trading on the foreign exchange market. I am curious if anyone here does this and can recommend a place to start. I have opened a Demo account, and with not training, and no idea I have done what I would consider very well with it. However, like i said i have no training in this, and I'm throwing wet toilet paper at a wall and seeing what sticks. I opened the Demo account with forex but I know there are a couple other places that do this. Any help would be greatly appreciated. And if I am out of line posting here, just let me know and ill remove the thread.

 

[Krav69]

PM Inbound.

 

[sharac]

I've done it with metals and now i'm doing it as a hedge (playing the opposite of real stuff) until all this bullshit explodes. If you're just starting i suggest you find something better to do (like making a pile of money you intend to use for trading and burning it or buying yourself something tangible with it -> pretty much anything you want). Making plus on forex or other markets today is much like winning lottery without buying the ticket as everything is pretty much ruled by HFT algos and big boys playing their games with sheep like us...

 

[AK264]

Its gambling. You can play it from a macro economic standpoint. gambling. Trends. gambling. Technical analysis. gambling. Big leverage big losses and big wins. As mentioned HFT algos and the big boys call the shots. Everyone uses stop losses but if you do they will be picked off in the wee hours. If you like waking up at 2am and logging in to see where the JPY/EUR is its for you. One of three things usually happen when someone starts trading FOREX. 1. they leave with a loss 2. They have a gambling addiction problem and lose everything. 3. Some keep at it and make a few pennys, usually as a long shot or a hedge. Most people enjoy betting on a trifecta horse race if it comes in great, if it doesnt no big deal and theres nothing wrong with that.

There is the ocaisonal human that can make good change playing FOREX just like certain people can make money playing cards. The hooks that grab people in Vegas are exactly the same as the hooks that grab people in FOREX. Im special, Ive figured out how to beat the house. I would caution you to proceed very slowly. Read every book you can on FOREX techniques. Read a book about gambling addiction. The graphing software and graphics is alluring, it gives the impression of a science, dont be fooled, you could graph how often your dog poops and it would look the same. Treat it as a casino, never bet anything you cant afford to lose.

 

[Darkside-Six]

I use Tradking for all my foreign trading....which isn't that much. I've been day trading as a hobby for going on 3 years now with some good success but it's always a gamble and I try to stay very disciplined with it.