For software and charts get www.metaquotes.net free software and quotes on forex it is called metatrader 4
Please help me get started.
- Thread starter spyder22
- Start date
Retail forex is a bucket shop period!
No retail forex broker (non ecn) has a fidelity bond.
BUT
You can make money and you can beat them. Worst case scenario your account will get too big and they will not fill your trades.
I think you'll be fine at oanda with anything under $100,000.00
Anything over 100k i go to the cme.
I trade with oanda and have never had any problems.
You will come across posts which say people are getting screwed when trying to trade during news. That is going to happen anywhere you go so get over it.
Important thing for trading forex is not to use all the leverage they give you. With oanda you can set your max leverage to keep you safe. Mine is set at 20:1 for intraday.
Most important is learn from mistakes, don't overtrade, and keep a cool head Repeating mistakes is the definition of being stupid. Stay discipline and take it one day at a time. Something i have to try hard at everyday.
No retail forex broker (non ecn) has a fidelity bond.
BUT
You can make money and you can beat them. Worst case scenario your account will get too big and they will not fill your trades.
I think you'll be fine at oanda with anything under $100,000.00
Anything over 100k i go to the cme.
I trade with oanda and have never had any problems.
You will come across posts which say people are getting screwed when trying to trade during news. That is going to happen anywhere you go so get over it.
Important thing for trading forex is not to use all the leverage they give you. With oanda you can set your max leverage to keep you safe. Mine is set at 20:1 for intraday.
Most important is learn from mistakes, don't overtrade, and keep a cool head Repeating mistakes is the definition of being stupid. Stay discipline and take it one day at a time. Something i have to try hard at everyday.
Buy Mark Douglas - Trading in the Zone
Read, then trade, then read it again to actually understand what it is trying to tell you, then trade again, then read it again, etc...
A great book, I still make time to read it on a rainy weekend or something.
Oh yeah, if you start trading, trade small, leave a small amount in your account. You have a very large chance of blowing your account, so why not make the first one as painless as possible?
Mine was a big reality check.
Read, then trade, then read it again to actually understand what it is trying to tell you, then trade again, then read it again, etc...
A great book, I still make time to read it on a rainy weekend or something.
Oh yeah, if you start trading, trade small, leave a small amount in your account. You have a very large chance of blowing your account, so why not make the first one as painless as possible?
Mine was a big reality check.OK. ask questions. Do not let anyone tell you what to do because trading is very multi-facetted in markets as well as in time-frames.
Quote from spyder22:
Hi guys, I'm currently a student in college and have always had an interest in trading. I do not have a formal education in economics or finance (I'm majoring in physics/math), but have been reading all I can online. I would like to try playing around on the FOREX market trading intra-day.
But it seems 90% of the stuff I read is just marketing BS written by brokers trying to get you to sign-up for their service or software. This forum seems to have a lot of real, honest traders. Can you guys suggest where I can go to learn more? I would like to just start by creating strategies and doing a lots and lots of backtesting.
Thanks for reading and I look forward to your replies!
Read plenty of books on the subject, get a good simulator , don't try to go cheap- you'll just end up paying in the market, avoid people that are negative , you'll need a positive mindset.
You are a smart person so if you are persistent and patient while limiting distractions - then you will accomplish whatever you set out to do...The U.S and Canada are excellent places to succeed in.
You are a smart person so if you are persistent and patient while limiting distractions - then you will accomplish whatever you set out to do...The U.S and Canada are excellent places to succeed in.
avoid futures and paper trade... journalize you entries and exits and taughts of why you did what you did
do this on your spare time and dont jump in..then start out with low beta stocks with volume.,... then when you feel more confident increase size or volatility stocks
protect yourselves at all times and lose as little as you can.... that way you can survive and learn as you grow.
do this on your spare time and dont jump in..then start out with low beta stocks with volume.,... then when you feel more confident increase size or volatility stocks
protect yourselves at all times and lose as little as you can.... that way you can survive and learn as you grow.