I was wondering wether anyone had any info on getting started in FOREX trading
Posted by ryx10 on :
not really familiar,but interested
Posted by killpack on :
FOREX is used by the big boys-why would you want to use them? They are expensive and you better know what you are doing-upside is you can trade international markets, including shorting-If memory serves correctly you need $4000 to open an account. And the per trade transaction is high.
Posted by bonz061583 on :
Actually the good thing about FOREX is you don't pay commission per trade, and you can open a mini account for $300.
Posted by infatuation on :
Im really interested do they provide accounts for canadians. and please explain mini account.
Posted by infatuation on :
the mini forex account is for currency trading only... i think....
Posted by eddieee2000 on :
If you are interested in FOREX, Go to your nearest library and check out some books (theyre free) or find some eBooks on it. I know of www. TheEbookCenter .com and you get alot more for under $20.
Yes, FOREX is 24 hours a day trading. Commissions are next to nothing. Leverage is 100 to 1. Hope I helped.
Posted by offshoretrader on :
Just a word to the wise stay away from forex unless you have piles of cash laying around and are thinking about burning them in your fire place. I have traded forex for three years and I can tell you that stocks are a lot better to trade. If you think you are going to trade forex with 300 dollars and make millions you are mistaken. Forex is for the pro's only and old rich guys.
offshore.
Posted by buyrsell on :
quote:Originally posted by offshoretrader: Just a word to the wise stay away from forex unless you have piles of cash laying around and are thinking about burning them in your fire place. I have traded forex for three years and I can tell you that stocks are a lot better to trade. If you think you are going to trade forex with 300 dollars and make millions you are mistaken. Forex is for the pro's only and old rich guys.
offshore.
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Posted by bonz061583 on :
I think i'll stick to stocks, I've tried a demo account, and it seems like you have to sit arround 24/7 watching currency going up or down, and profit of little movements in price, which is just a hassle.
Posted by bonz061583 on :
I think if I had 10 grand just lying around the forex would definetly be an easier way of making money vs. stocks.
Posted by offshoretrader on :
bonz first of all the demo they give you and real time trading is two diffrent things you will make money on a demo and lose in real time that because with the demo there's no dealer trying to close your account you are going to need more than 10k to trade forex I would say about 50k to 250k minimum and thats just for 1 to 5 contracts. Best Wishes, offshore
Posted by offshoretrader on :
