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Is $5,000 enough to get started with trading? Your answer to my question will answer your question: Will $5,000 loss hurt you?

Try oanda.com - no commissions and 2 pip spread on EUR/USD. Ideal for learning.

Edges get blunt.

I agree with Wallace regarding the forex trading, but would suggest Oanda as your forex broker. They allow you to start very, very small (pip=$0.01 for example). Place $100 in your forex account and practice your strategies until cows come home.

I was trying to point out that daytrading forex can mean that your stops are being “hunted down” by unusually, out of character, large swings.

It doesn't happen all the time, but when it does it makes you smile.

I wish I had a lower pain threshold…

It has been suggested yesterday, in one of the rooms I visited, that this bubble is fuelled partially by the approaching “9/11 sentiment”. There could be some truth in that…

Increase the size when you stop feeling the pain!

Welcome to the Oanda forex club, buggerlord! The best thing about forex trading is the facility to trade at home AND from work. I would really love for IB to adopt their TWS platform for trading via the port 80 too. You quite right, scaling in and out of your positions can be done very...

My humble apologies – I have forgotten the most important thing: the cost of trading. There are no commissions of course, but you do have to pay the spread. I like to trade EUR/USD where the spread is two pips (for 1000 units the cost is 2 cents – not bad at all).

So I am told - I kept falling asleep though. :)

Well, I was ultra conservative when I started last week. I made up my mind to start very, very small – my trading involves buying and selling 1000 units at the time. That means, if you aim for a 60 pip target and 20 pip stop – the maximum you can lose is 2 bucks. With that kind of...

Based upon Marketsurfer’s example I have decided to venture into the world of currency trading. I opened a small account with Oanda in order to evaluate this trading vehicle. My findings are as follows: - You can open an account with a few hundred bucks - You can specify your own...

Hear, hear... :)

The “problem” with your method, OldTrader, is that this board is populated with under-funded traders that cannot afford to trade larger waves in the market. The birds-eye view of the market requires somewhat larger purse. The 1 and 5 minute charts gives illusion of acceptable risks...

I do it four days a week – almost every week. All it takes is a laptop and a flat monitor for the two-screen trading station. Broadband would be nice but not necessary when trading just one instrument.

I am not terribly bright and my trading reflects the state of my mind. My set-ups are very simple and require no more than 5 point stop. The target is always 20 points from entry (stop moves to break even after 10 points). My trading day ends at the bell or after four lost trades in...

For the past few years IB’s stop orders failed to trigger only four or five times. Long time ago I realised that nothing is perfect in this world and you need to learn to live with these small imperfections. I am sure that sooner or later some of the imperfections will go away. Long...

I had two stops in place – one triggered the other one didn’t – the price just sailed though it. I am at the moment talking to IB about it. Unfortunately, some people at the helpdesk have problems understanding terms like “GTC SELL STOP” and its application. I am sure we’ll...