Questions about forex ?

Crywolf · Feb 3, 2015

You need to be an economist to trade forex ?

WWarrior · Feb 3, 2015

No, I think you need to be more risk manager and analyst

stephane · Feb 4, 2015

Everybody may learn to trade.

http://www.investopedia.com/articles/trading/08/turtle-trading.asp

Crywolf · Feb 4, 2015

But i need to have higher education?

tom_czr · Feb 4, 2015

No, u do not need to have any official education at all... what is the point of this question?

wwatson1 · Feb 4, 2015

I have traded mainly Forex for the last 2 year's, its good but gets messy sometimes, stupid spikes here there and everywhere then crap ranging days followed by the odd great trending day that just runs and runs all day long

tom_czr · Feb 5, 2015

to wwatson1: Hopefully u have not been trading with MM (market maker) / DD (dealing desk) type of broker / account. Otherwise it is extremly difficult to make any reasonable money.

There was one screenshot publicly available, with settings of price freeze, price manipulation in chart, slippage and "stophunting" for individual clients of MetaTrader brokers...
So some FX brokers should be rather called internet casions, because people play against house.

wwatson1 · Feb 5, 2015

tom_czr said:
to wwatson1: Hopefully u have not been trading with MM (market maker) / DD (dealing desk) type of broker / account. Otherwise it is extremly difficult to make any reasonable money.

There was one screenshot publicly available, with settings of price freeze, price manipulation in chart, slippage and "stophunting" for individual clients of MetaTrader brokers...
So some FX brokers should be rather called internet casions, because people play against house.

Hi Tom, I trade with oanda and apart from a few glitches with there app updates on the android phone I have had no problems as of yet so not sure I follow??

tom_czr · Feb 5, 2015

to wwatson1:
Do u know difference between these types of FX brokers and what type of broker/account you have?

1. Market Maker (MM = DD = Dealing Desk)
2. ECN
3. STP (NDD, DMA)

If I am correct, Oanda is DD broker (you should google it), so from my point of view it is very unprobable that you can have long term profitable and stable results in any significant way. You are playing against casino, not trading real FX quotes most of times.

If you want to win Formula 1 race, then you need very good car. Oanda is not even cart, they intentionally slow you down even when u want to only walk. From this point of view I do not belive that someone can build financial freedom trading using brokers like Oanda.

Hopefully my info will help. Time to change your broker. Regards

wwatson1 · Feb 5, 2015

Don't know what there "type" is and don't really care, doesn't seem to make The slightest bit of difference to me. I think there fantastic