What is the truth about forex trading?how can i become a profitable trader? where can i get stuffs on this?
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Answer:
Take the 15 day free trial and find out for yourself. http://www.globalmoguls.com
Forex is real and people do make money on it. Check out the forex.com site and fxcm.com. There are quite a few learning tools and they will let you set up a dummy account to try it out for a while.
Becoming a profitable trader? That's the whole trick, isn't it. Anyone who gives you a technique is providing information that may have worked in the past, but the future is volitile. Just as with any investment, you need to stay diversified and be patient to have a consistent cash flow. If you go for the big kill, it's just as likely that you will come out on the bad end of the deal as on the good end.
Most of the Forex sites make their money on the exchange fees. There are fairly substantial fees per transaction, but if you limit your transactions and make large buys, you can minimize the fees.
Check out the sites and download their training and application information. It is dense, but it should help you make a decision about whether it is right for you.
www.freedomrocks.com/19768 and see if it is for you. One thing don't get to agressive in the forex market and work it properly and it can work for you. One thing I have found is that no one and I mean no one knows which way the market it going to go. pivot points or those sights that say I am right 70 percent or 80 percent of the time. even they don't know. You need a strategy like the one above that will help you over time protect your money and make money. Good luck
1. Stay away from Freedomrocks.com
2. Know that over 95% of the individuals that try Forex... FAIL!
2A. Of the 5% that "win".... 40% (or more) of their trades are bad.
3. Is it a great way to make big bucks. YES!
4. Does it take a lot of work. Yes!
5. All of the brokers are poor. Your job is to find the least poor for yourself.
Check out: www.Babypips.com
READ READ READ READ READ.
Look at John Murphys "Technical Analysis" book. The bible on technical trading.
Another "must read" for any trader is: "Trading For A Living" by A. Elder.
For fun (and insight) read: "Adventurers of a Currency Trader" by Booker.
Then read several books dedicated just to Forex. Most of the FX books are poor.
Good luck!
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Forex is tricky and that is the truth a very fickle market and not for the faint hearted so the best thing to do is trade Options and CFD.s to keep your cash flow going ( by the way if you trade on the Aussie market there is less volatility than the US)
Anyway make your daily targets with options and CFD's and then trade Forex as an aside that way you will not be to exposed to the ever changing market.
Try this easy to follow course the best thing is to keep it simple some of these websites are to clever by far and just confuses the issue.
For more help I am setting up an new forum for newbies
Hi,
I could introduce you to one of forex broker leaders that is located in SWITZERLAND and Regulated by the Swiss Federal Department of Finance; audited by KPMG.
They have very tight spreads. Total 25 currency pairs Gold and Silver.
SPREADS:
2 pips for EURUSD, USDJPY, AUDUSD, EURGBP, EURCHF;
3 pips for GBPUSD, USDCHF, USDCAD, EURJPY;
4 pips for CADJPY, CHFJPY;
5 pips for NZDUSD, AUDJPY;
6 pips for EURAUD, GBPCHF, NZDJPY;
7 pips for EURCAD, GBPJPY;
8 pips for GBPCAD, GBPAUD, AUDCHF, CADCHF, NZDCHF;
10 pips for AUDCAD, AUDNZD.
LEVERAGE 1:200 default but client could chose the leverage from 1:1 to 1:200 at the account opening procedure.
MARGINS. The margin or leverage a client can have depends on the client's account equity. The table below shows margin requirements for the different equity levels:
Less than 25,000 - 0.5%
25,000 to 1,000,000 - 1%
1,000,000 to 5,000,000 - 2%
5,000,000 to 10,000,000 - 3%
Above 10,000,000 - 5%
Please note that on weekends and holidays margin requirements remains the same.
SWAPS are counted as negative as positive. Also is available swap-free accounts.
STOP and LIMIT orders may be placed as close as 5 pips from market price
TRADING TERMINAL Meta Trader 4.
Clients can choose to have their accounts denominated in either USD, EUR, GBP, JPY, CHF, AUD or CAD.
Initial account opening deposit from US$2000. From first view it probably looks high comparing with other brokers who allow mini accounts and minimum initial deposit from USD250 but it is more useful and safer because clients are more protected from quick stop out and total loss of the initial deposit in the case if unfortunately it would be several unlucky trades in rage.
This is regular forex trading account however it is allowed trading in mini lots (from 0.1 lot).
If you are interesting I could introduce you to them please e-mail or PM me (press on my name) and I provide you with further information. Furthermore I could provide you for FREE with more than 50 trading e-books and trading systems that worth more than several thousand dollars and are very useful as for beginners as for experienced traders.
Well, those books made my trading simple I 'm sure that it will be useful for you too.
If you have any question please do not hesitate and contact me.
Good luck!
consider two things:
1. 95% of the individuals who attempt to trade currencies lose money, and
2. you are competing with the world's major banks, who have serious computer programs, the very best economic forecasters, 'inside' information (they are the source of the big orders), and mega-bucks to trade with.
Are you sure you want to play?
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