FX Trading?
Friday, May 22nd, 2009 at
4:16 am
hi,
i am a newbie in trading FX, just wondering if FX also need 3 days settlement like stock? also, any recommendation which online FX broker is better. Thanks
Filed under: FX Online Trading
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People who bad mouth FX, don't trade it. Yeah they probably lost there money because they didn't know what they where doing 10 years ago when retail FX got started. Educate your self, Buy a couple of books and open a Demo account for a few months to get the hang of it. Start small and build your knowledge and your account. Don't listen to the nay Sayers there to busy spending time on here collecting points.
Crawl, Walk, Run. Sen. Clay Davis – The Wire
There are no good FX brokers… only ones not as bad as others. Most of your decision will be based on cost & wether you want a "trading desk" or not. If you're going to trade the news…. your job will be even harder…. since most brokers don't want you.
Check reviews on;
http://www.forexpeacearmy.com/
There are (usually) no settlement issues. Since you have stock trading experiance… that's great. I would hope you have at least 3-5 years of successful Technical Analysis experiance. You'll have to also have great money management skills for FX. It's more important than picking the right direction of any given currency.
96% of all new FX traders lose most of their account in the first 3 months of trading. Many of them have no trading experiance (they are simply gambling & haven't a clue). Believe it or not some are mediocre stock traders that think FX well be easier. Simply nuts.
Good luck.
there are lots of good forex brokers out there but i believe this one is a lot better than the rest. for one, they offer a live, one-on-one help to all their traders. and being one of today’s leaders in forex trading, you can be assured you are trading with a very legitimate, trusted & reliable forex trading site.
one unique feature of this site is whether you are a beginner or an experienced trader, for a minimum deposit of $100 which also form part of your initial capital, they will provide an Account Service Manager (ASM) to be your personal consultant who will serve as your mentor and trading partner, will answer all your technical questions and with whom you can talk live over the phone, email, chat or any form of communication available. being an expert forex trader himself, your ASM will be your best resource person. he will even trade along with you so that you will get to familiarize yourself about how the real trade is done and give you the tips and tricks you need to know and do to achieve a profitable forex dealing. and they can even set your Take Profit and Stop Loss rates so that you are assured to earn unlimited gains but not lose more than your authorized amount.
other feature includes but not limited to: background information for the Forex market, Guided-Tour, seminars, one-on-one training, CHAT, telephone support, as well as other assistance tools, including technical support; enables users to start trading immediately and with no software required to download you may login to your account and trade anytime, from anywhere; allows you to fund your account with your credit card, so you can start trading immediately, regardless of banking work days or hours; uses the latest highly sophisticated and advanced technologies in order to offer you up-to-the-second quotes;
and If you are a frequent trader dealing in larger volumes, they offer tailor-made account to suit your exact needs (spreads, leverage ratio, mobile-phone alerts, etc.)….
Register for a start and download a Free Forex Ebook for your reading…
Interactivebrokers.com will do forex, and they are a very trusted trading site. Thinkorswim.com does too, but they only have four currencies vs. the dollar, so only the basic amount of opportunity. It takes two days settlement according to investopedia.com, but your buying power should go into effect immediately.