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Posts tagged "should"

Q&A: Is on-line forex trading for the average guy or should be left for the professionals?

Question by acussi: Is on-line forex trading for the average guy or should be left for the professionals?
Online forex is all over the internet and I have been very tempted to give it a try but do not want to be wiped out imediately and lose my money. If some one has done it please share your good and not so good experience.

Best answer:

Answer by Glen Ulmer
Forex trading is a lot like legalized gambling. It’s not part of a conservative “average guy” portfolio. But there are free accounts on the internet whee you can play the markets with pretend money (and it tracks your gains, losses, and trading expenses) so you can teach yourself about it.

The thing is, as with all investing where you don’t yet know what you’re doing, when you start doing it for real, you need to treat the money you spend as part of your entertainment expenses — think of it as spent money the minute you make a trade.

And don’t forget — if you make a big gain, and then lose all the gain on the next trade — you’re likely to owe the government tax money even thought you netted zero dollars. So remember to set aside a portion of your “winnings”.

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Posted by JasonRocker - August 28, 2012 at 2:54 pm

Categories: Forex Questions   Tags: , , , , , ,

How much money should you have in your FOREX acount in order to earn an income?

Question by ej105: How much money should you have in your FOREX acount in order to earn an income?
I am planning to add funds to my online FOREX account and I am wondering what would be the appropriate amount of money to start off with in the account to where I can generate enough revenue to earn an income off my profits. I know you need at least $ 1000 just to play in the market but that amount is not enough to make money on. What would I need to have in my account to where I can start compounding the little profits that I make here and there?

Best answer:

Answer by Feeling Mutual
You should have at least $ 100,000.00 in it.

That way you don’t have the extreme risk of using their 50 or 100 to one margin where you lose your entire investment if a currency drops only 1 or 2%.

FOREX Margin, just say NO!

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Posted by JasonRocker - July 2, 2012 at 2:36 am

Categories: Forex Questions   Tags: , , , , , , ,

Q&A: What kind of news should I start reading in order to make decisions about forex trading?

Question by biggs: What kind of news should I start reading in order to make decisions about forex trading?
I got a check in the mail for $ 40 from my forex account. I blindly put money into eur/usd. So now that I know this is real and one can make money off of it, what kind of news should I start paying attention too? What section of the newspaper should I start reading and things of that nature

Best answer:

Answer by falsi fiable
Stay away!

FOREX is terrible for novice investors. 75% of all investors lose nearly their entire stake within the first few months because the game is stacked. The FOREX trading company sets exchange rates, not the open market. You’re playing against the house. Due to the minimum lot sizes (usually several thousand dollars each), you MUST leverage your investment of several hundred and when the currency goes down by a tiny fraction, the company forces sale of your investment before you have a chance to recoup losses in order to meet the margin call. Stay away.

Don’t take my word on it:

http://discussions.latimes.com/20/lanews/la-fi-amateur-currency-trading-20110403/10

But if you still insist, I’m betting 3 to 1 that you lose your entire investment within 120 days.

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Posted by JasonRocker - May 28, 2012 at 10:45 pm

Categories: Forex Questions   Tags: , , , , , , , , ,

How many times a day should I make a trade when trading forex?

Question by William M: How many times a day should I make a trade when trading forex?
I am going to turn 18 tomorrow and I’ve had a practice account for several months and have been experimenting with it all that time, trying different strategies and techniques and have found a way to keep on making small consistent profits. What I’d like to know is for when the time comes tomorrow to put in real money, what would be a recommended number of times I place a trade every day I trade forex to make small consistent profits? Good answers would be much appreciated. Thanks.

Best answer:

Answer by bluenightsky87
Hi William, well that depends on your trading strategy, if it’s a long/short term strategy or scalping.
Profits depend on you only. Sometimes it’s better to do one trade only a day with a good profit instead of ten or twenty with a very small profit.

I suggest you to join the broker I told you in the last answer, Marketiva, that gives you 5$ to start trading for real and you can use them to start practising. They have also virtual desks to trade using virtual money and there you can develop your trading strategies day by day.
They have also support in different languages, good spreads, no overnight interest and a very nice and easy to use trading platform.

Here is the link: http://www.marketiva.com/index.ncre?gid=3371

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Posted by JasonRocker - January 26, 2012 at 3:04 pm

Categories: Forex Questions   Tags: , , , , ,

What should I trade out of stocks or forex that would be easiest to trade and make the most money out of?

Question by William M: What should I trade out of stocks or forex that would be easiest to trade and make the most money out of?
I am going to be 18 in 26 days and I want to become a millionaire quickly by trading either stocks or forex. I want to know in your opinion which of them would make the best vehicle to trade to make the easiest, quickest path to wealth? Also, when I say easy, I don’t mean that it would be easy to do, but easy in terms of currencies and stocks to choose from and the least complicated to research out of the two. Good, reasonable answers would be much appreciated. Thanks!

Best answer:

Answer by Invest Wisely
forex is the hardest of all…
you need to go to university to learn forex trading

You can look for myfxfunds in google/yahoo search engine
My Managed Account has grown to 40% in 3 months.
and this week my account has profit 5.3%
By the way my capital is 100K but you can start with minimum 2000 to test.

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Posted by JasonRocker - December 21, 2011 at 8:21 pm

Categories: Forex Questions   Tags: , , , , , , ,

How much money should you have in your FOREX acount in order to earn an income?

Question by hong: How much money should you have in your FOREX acount in order to earn an income?
I am planning to add funds to my online FOREX account and I am wondering what would be the appropriate amount of money to start off with in the account to where I can generate enough revenue to earn an income off my profits. I know you need at least $ 1000 just to play in the market but that amount is not enough to make money on. What would I need to have in my account to where I can start compounding the little profits that I make here and there?

Best answer:

Answer by elvie b
Earning a living with Forex is dependent on three factors. First, your starting account balance. Second, your actual performance level. And third, your living requirements.

If you are opening an account with $ 500…the answer is no…you will not be able to make a living at Forex. Even $ 1000, $ 5000, $ 10,000 or $ 25,000 would not be enough of an initial account size to make a comfortable living in the Forex market.

The next area of importance is your skill as a Forex trader or the effectiveness of the strategy that you follow. If you are a 50/50 trader and win on half of your trades and lose the other half you cannot make a living at Forex. If you have the time, the patience, the discipline and the knowledge to make at least 20 pips in 4 out of 5 days of daily trading you may have a good shot at making a living from the Forex market.

If you are looking for the best forex software, visit this site

http://the-best-forex-software-in-internet.blogspot.com/

This software is the best software that can help increase your trading profit and user friendly.

Best Wishes,

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Posted by JasonRocker - December 11, 2011 at 1:41 am

Categories: Forex Questions   Tags: , , , , , , ,