Help wanted

knowledge of stocks limited to reading the paper occasionally; futures: isn't the idea something like: you buy the ability to enter a trade of a pre-set volume and decide whether or not to execute that order based on looking at where the price actually did end up going?

Surely then you could buy an FX futures contract to, for example, short cable at a given price (1.991) and then two days later see the price hit 1.94, and the maximum possible loss you would experience would be the cost of that futures contract?

But hang on, if you can do that can't you buy TWO futures contracts hedge the price and only realise the one of the two which came up trumps?

Heeeelp meeee
 
I really hope that you make money trading, but right now i really feel forex is way too leveraged for you. I think that you need to study and read as much as you can. Trading is an art that takes a long time to learn ,, like any other job. Technical analysis should learnt as well, even if you are a fundamental trader,, to give you timing.
Best wishes
 
Thank you very much for your reply, Buzzkill, and thanks also to the guy with the chicago exchange spam.

Here's to the decades of learning ahead of me. I have been making small profits FX trading, however trading at 10 pence a pip is tantamount to a waste of my time (as is trading OTC, paying twice, etc etc).

I look and I see that curiously high leverage is offered - what would be the point in this? Surely the only reason a broker would allow a client high leverage is in the hopes that that very leverage is what explodes the client's account?
 
I try not to think too much about why people do certain things, but leverage like 200:1 or even 400:1 i personally do not feel that it is a good thing, especially when it is offered to new traders, with almost 0 risk tolerance. There are certain etf's based on currencies,, you may want to give that try first, obviously it is not the same but if you are position trading it will mirror the longer term moves.
Best wishes
 
Quote from thoams:

Absolutely any help would be greatly appreciated. Sources, resources, books, articles, absolutely everything I could possibly absorb to increase my understanding. Primarily of the fundamental influences to the markets, but also of those crazy looking indicators.

The only thing I could tell you if you asked me "Elliot wave oscillator?" is "5 is apparently a magic number".

I see a lot of aconyms with a lot of figures to accompany them - and have a firm grasp on the concepts surrouding inflation - but where exactly do I turn to be taught MORE of the sort of information I know that I need to know?

Please feel free to flame me to pieces for this honest admittal of my ignorance, as long as afterwards you help.

Thanks in advance

:confused:
More...
Elliot wave? What’s that? All successful traders I spoke to are using a couple of basic indicators on different time frames to execute the trades. That’s all. Here is my approach .I look at the 4 hour chart to determine the trend, and then I zoom to the one hour chart to find out when the price moved against the trend, then switch to 15 min to execute the trades with the trend. In my opinion trading is like some sport, the more you practice then better you at it. You my do it in your favor time frames. It sounds easy but took me two years to become a profitable trader.
And most important is the money management, trade as small lots as possible. Good luck.
 
what you are attempting is sheer SUICIDE.
if you don't learn to read a chart, you will fail,.
index futures don't have the "whippyness" of forex and will give a better chance when you start.
based on what you've said so far, read study and study some more cuz you have a long way to go.
 
Quote from thoams:

Absolutely any help would be greatly appreciated. Sources, resources, books, articles, absolutely everything I could possibly absorb to increase my understanding. Primarily of the fundamental influences to the markets, but also of those crazy looking indicators.
More...

You might start with FXE, a stock that tracks Euro / US Dollar exchange rate.
 
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