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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: , , , , , ,

What is the best way to learn fundamental forex trading?

Question by hando59: What is the best way to learn fundamental forex trading?
Is forex trading worthwhile as a second income generator?

Best answer:

Answer by Shem
get a free forex e-book from this site. better still, register to learn more.

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Posted by JasonRocker - August 27, 2012 at 6:36 pm

Categories: Forex Questions   Tags: , , , ,

Q&A: Is forex trading a safe way to earn lots of money?

Question by : Is forex trading a safe way to earn lots of money?
Hi guys,
Recently i’ve seen so many sites that speak about forex trading and brokers and so on. I saves a bit money and i was thinking to start trading forex and double it. Please i need some advice. Preferably someone who has past experience with it. Is it a good or bad idea. Please advice

Best answer:

Answer by Raysor
Bad idea.
This is how you make money trading (anything). 1. Knowledge/skill 2. Inside information (illegal) and 3. Luck
You probably need at least two of those to be successul. How many have you got?

Know better? Leave your own answer in the comments!

11 comments - What do you think?
Posted by JasonRocker - August 26, 2012 at 3:17 am

Categories: Forex Questions   Tags: , , , , ,

Q&A: What do you think of the FOREX trading platform?

Question by r h: What do you think of the FOREX trading platform?
I’ve only had experience with the MarketAxess Fixed-Income trading platform, but am interested in setting up a demo account with FOREX. Any thoughts?

Best answer:

Answer by Common Sense
There are many FX brokers. Which one are you considering? Do you want one with a “dealing desk” or do you prefer no dealing desk.

One site that I’ve found helpful is;
www.ForexBastards.com
This is certainly not the final word in picking a broker, but it helps you avoid the really bad ones.

Remember: There’s no such thing as a good FX broker. Only ones that are less bad.

Good luck.

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7 comments - What do you think?
Posted by JasonRocker - August 19, 2012 at 11:16 am

Categories: Forex Questions   Tags: , , ,

What are the basic requirements for forex trading?

Question by : What are the basic requirements for forex trading?
How one can start a forex trading in india. Is it profitable.

Best answer:

Answer by alyce
First, I suggest you to sign up for a demo account. Trade until you able to consistently making profit. Then, put in some real money that you can afford to loss. You may loss it, treat it as tuition fee. Finally, hopefully you would have master the skill to win in the long run.

There are many free resources, just search it online. 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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2 comments - What do you think?
Posted by JasonRocker - August 18, 2012 at 2:31 pm

Categories: Forex Questions   Tags: , , ,

What is easier, stocks or forex currency trading?

Question by aerofreak: What is easier, stocks or forex currency trading?
I am wanting to start investing some money, not to get huge profits, but more to learn a bit about investing, business etc.
I was wondering, what is “easier” to start with; stock trading, or forex trading, and what are the pro´s and con´s of each.
Thank you!

Best answer:

Answer by Tarv
It’s very very easy to get research on a company and its stock, easy to trade on online broker platforms, and easy to get approved for such an account. So, that’d be a wise move for learning about investing and businesses.

Forex is the largest market in the world, and you can trade 24 hours a day, which is fun; however, it’s more complicated to find a good forex broker, plus most of their products are highly leveraged, which means you can quickly lose your shirt without realizing it. The forex market is vast and complicated. It requires understanding of terms like “ticks” and “pips” and “yard” and “cable” and “mio” and base vs quoted currency, restricted markets, etc. Your volatility can increase on any number of variables, and the real players in this game are central governments and investment managers, who are moving hundreds of millions of dollars at a time, which can skew the value of your deal in an instant.

Play with platforms that allow you to do this stuff for free, and see what you learn without actually losing real money.

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6 comments - What do you think?
Posted by JasonRocker - August 15, 2012 at 7:07 am

Categories: Forex Questions   Tags: , , , ,

Q&A: How much do I need to get started trading in forex?

Question by Brian G: How much do I need to get started trading in forex?
How much money does it take to get started trading in the forex market?

Best answer:

Answer by forexpro1
It depends on which platform you choose to go with. I’ve been through several, and different places have different minimum deposits. There are some proven platforms out there but others are just terrible.

It would be better to start trading on a demo account first before putting up any hard earned money. Trust me, you don’t want to make that mistake and find out the hard way.

There is the potential to make lots of money trading forex and I wish you luck.

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Posted by JasonRocker - August 13, 2012 at 2:36 pm

Categories: Forex Questions   Tags: , , , ,

How can I start trading forex using autopilot method?

Question by asder b: How can I start trading forex using autopilot method?
I have just opened my trading account and I am trying to decide on buying an autopilot forex trading software.

Best answer:

Answer by ken
Yes, a number of autopilot forex trading software programs have recently come into the market but the one I have tested and like most for autopilot forex trading is forex tracer.

Found forex tracer easy to use and there’s no knowledge needed. Forex Tracer can generate signals of when to buy or sell any currency. Anybody whether experienced or newbie can use.

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Posted by JasonRocker - August 12, 2012 at 6:50 pm

Categories: Forex Questions   Tags: , , , , ,

How can I make money Forex trading?

Question by klrpnda@sbcglobal.net: How can I make money Forex trading?
Having a real tough time being able to make money trading the forex market. Anyone make consistent profits and care to share some tips?

Best answer:

Answer by Bart M
Inasmuch as the ability to predict market moves is sanguine. IT is important too to realize the breath of information ot readily available.

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Posted by JasonRocker - August 11, 2012 at 10:50 pm

Categories: Forex Questions   Tags: , ,

Forex Flash: Global GDP growth forecasts trimmed – Merrill Lynch

Keep up with FOREX news. China still slowing in the 3rd qtr.

Forex Flash: Global GDP growth forecasts trimmed – Merrill Lynch

“FXstreet.com (Barcelona) – Markets were surprised on the downside with the Chinese activity data, as the slowdown seems to be extending into 3Q. The Euro area activity is also extending weakness, noted by the softer industrial production, and India has …”
http://community.nasdaq.com/News/2012-08/forex-flash-global-gdp-growth-forecasts-trimmed-merrill-lynch.aspx%3Fstoryid%3D162923

It’s simple, but it needs to be stated over and over – make informed decisions.

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Posted by JasonRocker -  at 12:48 pm

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