Forex trading?
Jan.18, 2009 in
LMT Forex Formula
Mc D
What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with Forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don’t know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?
What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with Forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don’t know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?
January 18th, 2009 at 11:47 pm
LMT Forex Formula
I’m just getting into FOREX trading. A reputable company will tell you;
9 out of ten people that trade FOREX lose their money & give up.
Most FOREX trades are losers.
Get into FX Trading if you’re willing to take six months to a year understanding it. There are many ways to learn (Books, online classes etc.) Most FX brokers will let you trade for free on a “Parctice Account”. Always remember that results are seldom the same once you start “real” trading.
If you have had some experiance in trading stocks or coomodities…. it may be a place for you to get involved.
FX Is the largest trading platform in the world. It is unregulated. Be very very very (very) careful!
January 19th, 2009 at 3:06 am
LMT Forex Formula
January 20th, 2009 at 9:47 am
LMT Forex Formula
Forex just like other business, high risk if u didn’t have patient, huge commitment. It can ruin u up in just one day. So becareful of what u done. ALWAYS HAVE PLAN, when u enter the market, choose the most liquid market (Mostly GPP / USD or JPY )
But always remember you can’t win without losses. I ever lost, huge, but never give up. But now i have win a lot
ALWAYS PUT YOUR STOP LOSS AND LIMIT PROFIT ! that how u can survive from viotile market.
If about how much capital u need to deep into forex it depend on how much you want to earn.
If u want a Good start, u can start with $5000 (that wud be enof for starting) but if wud be great with $50.000
find a good broker, or better u handle it yourself
u can try
Lean about technical analysis, CANDLE BAR n some indicator. [Stochastic, MACD, Moving Average n Par Sars wud be much enough
contact me [] if u need some advice
regards
January 23rd, 2009 at 2:48 pm
LMT Forex Formula
FXCM.com is helping for beginner users like you. have a look at there
January 24th, 2009 at 3:17 am
LMT Forex Formula
Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($5000) account.
You will need to set strict money management rules, that is how much to place on each trade, how much you are willing to lose on each trade and how much profit you are happy to take on each trade.
Greed can do funny things and a winning trade can end up a loosing trade.
Follow these 10 steps
1. Get access to and read as much free information as possible
2. Download free Forex Charts
3. Take some Forex courses
4. Test and trial a couple of different forex strategies to determine which is best for your personality. Don’t rush this stage as you will really get to know yourself, how you react to loss, greed, fear and you will come to an understanding of how much time you really want to commit to your trading.
5. Open a demo account with an online forex broker, and start with a conservative amount in your account between $5000 and $10,000.
6. Simulator trade for between about 3 months
7. Open a Mini-Forex Account and fund with a conservative amount of money, between $300 - $2000.
8. Build your confidence by taking small amounts from the market consistently.
9. Throughout this whole process develop a trading plan that will consist of
a. What size your real trading account will be
b. How much you will trade each time
c. What timeframes you will trade
d. How much you will risk each trade
10. Trading for Real - Start trading a real account and continue to monitor and track your progress, recognising that you are a continual learner.
You can learn more from the free course at