Jaree, There's no right answer for you there I'm sorry. I use two brokers GFTForex and CMC and both have their good and bad points. For example CMC have good spreads, 2 pips on the AUD/USD & EUR/USD and 3 on GBP/USD, however they are notorious for taking out stops. GFT have less desireable spreads but have good contingent orders, trailing stops etc. Customer support is a little better at GFT. Charts are about the same. Best thing is to visit a forum on Forex such as the one at DailyFX.com and ask around there, and state where you live
Dear Sir/Madam/Miss, Eventhough there is an affiliate link at my signature, it just a link. No offend to others as I personally open reader mind on Forex Trading. Not for specifically forex brokerage. There are many forex brokerage services out there including Oanda, FXCM, Interbankfx and others. The idea behind this thread is to create a discussion platform for seasoned Forex trader and novice to exchange views and ideas in forex trading. Up until now, there are no Forex thread that stay long enough and discussed most ideas on DP. Hope that this thread will spark and motivates some trader to exchange their views for the benefits of DP communities.
I have attached two charts to illustrate that traps that trading can bring especially to novices. One currency pair - the AUD/USD. Two completely separate brokers. One chart sees the AUD/USD pair go from 77.87 to 78.29 in 15 mins, this is a move of 42 pips, and then back to 77.87. However on the other broker's chart you don't see this move at all. The first broker has better spreads than the second broker and so makes less money on each transaction, so they find other ways to make money. What you're seeing on this chart is a lot of buy orders that would have been placed in the market at the end of the US session on friday, and early Asian session this morning. The market maker then drives price up themselves, takes out all the buy orders, makes money on the spreads for each one, and then drives price back down again. What they then hope for is for the same traders to put it down to some freak event or news, and then place their buy order in again in the same place. This happens all the time and you need to be aware of it.
Has anyone tried northfinance here. Would you recommed it?? I really need help because i am switiching my broker and need to find a good broker that is fair and i can use it in US Anyone what do you guys use
The forex market is: Crowded Low margin/high volume CPA is bound to be high Why would you want to get into this market?
I hear North is good, been thinking about trying them. I trade through Saxo Bank. Nice platform. I also use Oanda platform for the demo trading account to test short term strategies. Got a couple forex sites too. http://www.fxcurrencytrade.com and http://www.fxpimps.com I find that the level of dedication needed to trade well means I have to put off my websites for a while. If I have too much going on in my head my trading suffers and i loose money. So i trade for a while then when i find I'm on a loosing streak I walk away and take a break for a few weeks or months.
Northfinance is also good, you can even withdraw e-gold ! As far as I know, the most reliable is Oanda. Their java-based platform is a bit laggy but its okay 95% of the time. Cheers ! Thibaut
I dont know your friend so I can only guess: Either he is really making money like that. Some (even if few) people probably do. But what I really assume is the following, which I see in friends of mine who bet on sports and play poker a lot: They count their wins, but when it comes to their losses, they prefer to sort of..well forget about them (and my guess is most of them are actually losing money). Im sure your friend doesnt make money on forex every day. Everybody loses sometime. It would be interesting to see, how much money he really made during the last 365 days, to have an average number so you can tell.
It's the biggest market in the world 80 trillion dollars, that's why. But, newbies can be burnt easily, if you are a gambler you should stay away. Read forums about scams and research a lot, there are things about brokers you MUST know, you must study and read. there are major scammers about and you need to be aware of them. Statistically 90% of people fail. Making it to the 10% is a task of self mastery - it is not an easy ride, and no I am not there. The salesmen will make it look like easy money, but it is not easy because you must learn. Some links that may assist: One of the most helpful forex resources: forex factory I am member here. Babypips Forex-Success Remember: there is money to made but it is not easy. Some say it takes 2 years to master trading where you can do it consistently and profitably. Hope this helps.
Yeah... it takes time to master forex inside out. Some people learn faster than others. It's no matter how many time you learn it to master forex, but rather then testing it virtually via virtual account. Today, after the opening second week of 2007, we can see the trends on GBP/JPY is still week as Japaneese Yen is much stronger. But you can see the resistance there at 229.40 and it will probably stay within 30 to 40 pips until next week. GBP/JPY pair will be as high as 231.88 by end of this week. EUR will be more better performance next week compared to USD as the Oil price will be stabilised on USD$58 end of this month (Brent).
Hi Banner spot, I don't have sites for sale, but how valuable would results of a survey be? I have 101 results so far (and still active), however the results are broad, meaning the traders who responded trade forex, stocks, futures etc, but the majority are forex and stock traders. The sorts of questions relate to what they trade, how often, are the happy, if not, why not, where are they going wrong (if they even know) and what is thier most burning question? I'm not much of a product creator (well I create them but wouldn't call me self a great one), but I'm assuming this is the sort of stuff product creators look for, is it?
what web site would you recommend i go to for the best information for a novice to learn about forex?
Why not try this... http://www.fxstreet.com/education/ ... It's got video, ebook and others information.
You need to treat forex trading and any other trading as a business. I even have a name and address for my trading business. I have a detailed plan to help traders design their own business plan for trading, and I even give a template on which you can design your own trading system. You do need to tweak the system to suit your won resources such as time, capital, hardware, broker, risk tolerance and so on. Forex Trading System and Business Plan
May I know the difference between forex trading platform. I've found out that the Currency Range is now the same in some platform (i.e if that time EUR/USD is 1.310 in Marketiva but it's 1.325 in FXCM). Why the difference is big?