posted
Okay, a LOT of people I respect are obviously trading on the FOREX, my question is simple: Do you guys prefer this over traditional day-trading US securities, be it pennies or small cap?
quote:Originally posted by jon clogger: Okay, a LOT of people I respect are obviously trading on the FOREX, my question is simple: Do you guys prefer this over traditional day-trading US securities, be it pennies or small cap?
I want to learn, but not if this is just a hobby.
Thank you, the Clogger of Jons
It's not that it's a hobby per say. It is just that it's a different monster/territory that us stock traders are not used to so we are experimenting with it.
Like all financial markets it has it's pro's and con's. Here's some pro's:
1. You can go short with no restrictions as opposed to the stock market with it's "uptick" rule as well as high margin requirements.
2. You can open a account with $200 and still get margin to control a bigger position of currency.
3. You can put a trailing stop/loss in place before you even enter a currency position and at the same time you put a limit or market order. So that when you enter the position it automatically does the Stop loss at the same time without you having to be in front of your computer to enter the stop/loss order.
4. No commissions. The brokers get paid on the spread. The smaller the spread the smaller their fee.
5. Only like 7 major currencies to keep track of as opposed to 9,000 stocks in the stock market in U.S.
6. I'ts almost impossible to manipulate the currency market because it is so large and any one player could not do it.
7. You can open a demo account in real time to try it out with "play" money. Tell me a stock broker that does that?
Anyways that is just some of them. If you want to learn further go to this website and read their "School" section in it's entirety even if you think you know a particular topic: www.babypips.com
-------------------- Let the world change you... And you can change the world.
posted
Here's a question for the masses....when you were starting out or playing with more limited funds, did you primarily scalp and do it multiple times, or find a good entry and ride?
-------------------- Study before you buy, Sell before you think about it....
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quote:Originally posted by SherriT: Here's a question for the masses....when you were starting out or playing with more limited funds, did you primarily scalp and do it multiple times, or find a good entry and ride?
IN OUT IN OUT IN OUT, THATS JUST ME.
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT!
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posted
how long did you "demo" and which brokers did you open Demo accounts with? ... I only opened one because i wasn't impressed with the others I looked at... trying to find simple platforms with big charts because I use candlesticks, Moving averages etc... so i need to be able to see well without squinting and guessing approximiate prices etc...
-------------------- Let the world change you... And you can change the world.
posted
My thing is i need charts to be BIG. Some have charts so small especially with candles that you can't tell or estimate where a currency's price will fall or rise when you want to enter a position.
-------------------- Let the world change you... And you can change the world.
posted
GFT will be the one you want then. I think they're down to a one week demo... but it'll give you enough time to see how much better their charts are. Open an Oanda demo account... the charts aren't as good but the demo doesn't run out.
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posted
One week? what kind of chit is that? lol I have heard of GFT and tried it once a long time ago but learning the platform was not easy at the time so i got frustrated and gave up at the time. The one I do use is CMSFX.com. I like their platform but I just don't like that the charts aren't big enough. Anyways check it out and let me know what you think of them. They have 400:1 leverage with $200 minimum to open a account and unlimited demo account use. 3 pip maximum spread for fees.
-------------------- Let the world change you... And you can change the world.
posted
Anyone here heard of Jack Crook (not the best name for a World Currency Options expert? I received an e-mail today from another service I subscribe to about his services. I don't have the dough to spend on this but wonder if it is something to consider in the future?
Here is part of the e-mail below...
Bob: The service is Jack Crooks' World Currency Options Alert, the world's first and only trading service specifically created to help you profit from the Philadelphia Stock Exchange's new World Currency Options.
For starters, you'll get Jack Crooks' World Currency Options Trading Manual.
In the manual, Jack shows you his #1 strategy for selecting the currency options that offer you the greatest profit potential with the least amount of risk. He shows exactly how the Philadelphia Exchange's World Currency Options work and he shows you how he identifies the best ones to trade.
Martin: I'm a risk-averse person. So I want to add that I'm pleased to see Jack provides several risk barriers:
The first risk barrier is diversification you're investing in the currencies of entire nations, not just a few stocks. And Jack recommends a variety of different currencies, different expiration dates and different strike prices.
The second risk barrier is the options themselves. Even in the worst-case scenario, your loss is limited to the modest amounts you pay for each of them.
And third is Jack with close monitoring of each position, with strict limits.
And while we're on the subject of risk, I want to remind you of one more thing: One of the greatest risks of all, in my opinion, is being taken by the folks who do nothing to protect themselves from this dollar crisis.
Bob: I've always been intrigued by currencies, how dramatic the moves can be, how huge the leverage is. But I have always been hesitant because of the unlimited risk.
Martin: Now, with these World Currency Options, you can know exactly what the risk limit is, and I know it will never be exceeded.
Bob: And the real asset here, of course, is Jack. He's the best when it comes to currencies. He stays on top of the currencies 18 hours a day. He tells you exactly which Japanese yen options to buy right now, and which other currency options to buy for diversification and for more profits.
Martin: We know of no one better.
Bob: Martin, congratulations. Over the years, I've seen the huge profits that are made in the currency market. And I was always amazed that there was no viable way for the average investor to participate without taking huge risks. No one brought together what has got to be the most liquid, most wildly profitable market with the investor-friendly instruments like these new options. Now you have done it!
Editor's note: Normally, a one-year membership in World Currency Options Alert is $5,000.
But if you become a Charter Member today (Monday, September 24), you can join for one year for just $2,300, less than half the regular membership rate.
Or for an even better deal, join for two years. The cost is just $3,750, and you save $6,250!
IP: Logged |
quote:Originally posted by NEL: Anyone here heard of Jack Crook (not the best name for a World Currency Options expert? I received an e-mail today from another service I subscribe to about his services. I don't have the dough to spend on this but wonder if it is something to consider in the future?
Here is part of the e-mail below...
Bob: The service is Jack Crooks' World Currency Options Alert, the world's first and only trading service specifically created to help you profit from the Philadelphia Stock Exchange's new World Currency Options.
For starters, you'll get Jack Crooks' World Currency Options Trading Manual.
In the manual, Jack shows you his #1 strategy for selecting the currency options that offer you the greatest profit potential with the least amount of risk. He shows exactly how the Philadelphia Exchange's World Currency Options work and he shows you how he identifies the best ones to trade.
Martin: I'm a risk-averse person. So I want to add that I'm pleased to see Jack provides several risk barriers:
The first risk barrier is diversification you're investing in the currencies of entire nations, not just a few stocks. And Jack recommends a variety of different currencies, different expiration dates and different strike prices.
The second risk barrier is the options themselves. Even in the worst-case scenario, your loss is limited to the modest amounts you pay for each of them.
And third is Jack with close monitoring of each position, with strict limits.
And while we're on the subject of risk, I want to remind you of one more thing: One of the greatest risks of all, in my opinion, is being taken by the folks who do nothing to protect themselves from this dollar crisis.
Bob: I've always been intrigued by currencies, how dramatic the moves can be, how huge the leverage is. But I have always been hesitant because of the unlimited risk.
Martin: Now, with these World Currency Options, you can know exactly what the risk limit is, and I know it will never be exceeded.
Bob: And the real asset here, of course, is Jack. He's the best when it comes to currencies. He stays on top of the currencies 18 hours a day. He tells you exactly which Japanese yen options to buy right now, and which other currency options to buy for diversification and for more profits.
Martin: We know of no one better.
Bob: Martin, congratulations. Over the years, I've seen the huge profits that are made in the currency market. And I was always amazed that there was no viable way for the average investor to participate without taking huge risks. No one brought together what has got to be the most liquid, most wildly profitable market with the investor-friendly instruments like these new options. Now you have done it!
Editor's note: Normally, a one-year membership in World Currency Options Alert is $5,000.
But if you become a Charter Member today (Monday, September 24), you can join for one year for just $2,300, less than half the regular membership rate.
Or for an even better deal, join for two years. The cost is just $3,750, and you save $6,250!
NO!! TELL HIM TO BLOW!JMO
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT!
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