New to Forex: Where do I start? - page 3
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MP -- the sky is literally the limit
Hello guys, my name is Mike hope to be a regular here
And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
Michael-==================================================
in real terms, after gaining the required experience to trade well, the sky is essentially the limit.
at this time, if youre truly new, you havent got a clue as to whats happening and you dont even know how little you know !
a year would be considered a pretty good learning period, but more is better because you NEED to learn wht the banks and brokers are THINKING, and where do they want to currency to go (you must face the fact that forex is a highly MANIPULATED market, but you can LEARN what theyre doing, and profit accordingly.
Please understand that forex is a whole new world, with its own culture, rules and regulations --- you can learn it as any other thing given you have the mind for it, but you wont win a thing if you just jump in and start swimming --- not unless youre the luckiest person in the world.
I will not discuss earnings, but they are well into the 6 figure amount per year and could be much higher if I had a "fire in the belly" that accompanies youth --- just at this point in my life, this is all i need to make !
oh yeah, im a united states incorporated financial holding company, presently handling retirement accounts and my methods of trading are mostly just trend followers, along with shorter day trading and "scalping".
good luck and see you in a year
mp
hi!...that is true, i've been reading and practicing over my demo platform, combining both technical and fundamental analysis...still trying out strategies to define if i'll be a scalper or a long term girl. billaaa777, could you please let me know about a good blog or article so i can learn more? thanx!
Best of luck in the Forex markets. There are plenty of places that proved FREE currency trading tutorials. Such as Forex brokerage firms, forums and web sites related to Forex. You can also do article searches at sites like Ezine where there are 1,000's of articles on the Forex markets.
knowledge + experience + emotion = profit in forex
LOL, its been so long since I started this thread and I looked back again now. Anyways since I posted this thread I became quite busy and haven't really started trading/learning forex until early 2008
and recently just plunged on a live account.
Anyways, I have grew a lot since I started this thread. . hehehe
found this thread again after 2 years !
Where's the man who created this thread ?
long life forex-tsd
LEARNING is one step to enter this jungle
===================
Forex Indicators CollectionNew to Forex: Where do I start?
Easy-forex provides good customer support and training to new forex traders.
How to choose a broker
Hi!
I can give you advice how to choose a broker.
The specific parameters that one should look on before choosing a broker is:
1. Reputation in the financial market.
2. Certification and regulation.
3. Spread charged
4. Facilities provided like daily updates, recommendations, mobile trading, pone trading etc.
5. Customer care support
6. hidden cost if involved
7. User friendly platform etc.
A good forex broker should be always reliable and efficient.
And of course, first try on demo account. If it is a success, then you may try with the real money!
Hope it helped!
how about MICRO account -- from fxcm
any UK outsider -- have experience with it -- about withdraw for those MicRO account -- but has to take USD money away from UK ??
I think there are plenty of hidden cost in fxcm micro !!
Hi!
The specific parameters that one should look on before choosing a broker is:
1. Reputation in the financial market.
2. Certification and regulation.
3. Spread charged
4. Facilities provided like daily updates, recommendations, mobile trading, pone trading etc.
5. Customer care support
6. hidden cost if involved
7. User friendly platform etc.
Hope it helped!I suggest one more parameter - minimal amount of deposit. Many companies offer lite types of accounts.