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FOREX program last night

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I missed the bit about Forex because I went out for a run. I am a long term investor in shares, I don't trade Forex. My view of Forex trading is that you need to be extremely analytical and good with charts and technical analysis in order to profit, that's why I don't do it!!! Very few will have the natural aptitude for it.

Rgds
 
Yeah i trade although still learning the ropes, Markets the past couple of weeks have been real volatile so if you do start, start small and learn how things work or use the practice consoles ( fake money )

If you learn how to read the charts properly and only trade on safe bets then you'll be fine, Trading is all about money management, paying attention to news channels around the world and being able to read the signals the charts provide, greed is normally the sole cause of risk.

I got greedy last month just before Sanctions we're declared on Russia, I trade heavily in #DAX and because many of Germany's biggest company's are in Russia the German Market took a dive ( which was expected but i ignored the signals and took the risk because it would have tripled my money over night.)............lesson learnt.

That week i lost 5k , That 5k i built up while learning in 3 weeks (with alot of luck along the way) so easy come, easy go but the rule of thumb is money management , don't pot commit and learn that losing is apart of it, you cant win every trade but learning a good, safe strategy can be very profitable.

I regularly talk to a couple of guys who rake in serious dollar for them and clients and they play it very safe and only trade when the signals are there, they've been giving me advise to get started but there is alot to learn and like most things you learn the quickest when you make mistakes.

I started off with $250 investment , started small and built it up so its not a big risk and if you never risk what you cant afford then its an interesting game to get into. Ive not done much trading in the past 2 weeks though as ive had too much work on to concentrate on the trades.

If you don't like Forex, there is always Stock CFD's on the same platforms which are long term trades for Companies such as Google , Microsoft etc.
 
Yeah i trade although still learning the ropes, Markets the past couple of weeks have been real volatile so if you do start, start small and learn how things work or use the practice consoles ( fake money )

If you learn how to read the charts properly and only trade on safe bets then you'll be fine, Trading is all about money management, paying attention to news channels around the world and being able to read the signals the charts provide, greed is normally the sole cause of risk.

I got greedy last month just before Sanctions we're declared on Russia, I trade heavily in #DAX and because many of Germany's biggest company's are in Russia the German Market took a dive ( which was expected but i ignored the signals and took the risk because it would have tripled my money over night.)............lesson learnt.

That week i lost 5k , That 5k i built up while learning in 3 weeks (with alot of luck along the way) so easy come, easy go but the rule of thumb is money management , don't pot commit and learn that losing is apart of it, you cant win every trade but learning a good, safe strategy can be very profitable.

I regularly talk to a couple of guys who rake in serious dollar for them and clients and they play it very safe and only trade when the signals are there, they've been giving me advise to get started but there is alot to learn and like most things you learn the quickest when you make mistakes.

I started off with $250 investment , started small and built it up so its not a big risk and if you never risk what you cant afford then its an interesting game to get into. Ive not done much trading in the past 2 weeks though as ive had too much work on to concentrate on the trades.

If you don't like Forex, there is always Stock CFD's on the same platforms which are long term trades for Companies such as Google , Microsoft etc.

Good post Adam, cheers
 
I must admit I am thinking of opening a CMCMarkets.com ac because their trading platform looks so cool.

Anyone got any thoughts on best trading platforms?
 
I must admit I am thinking of opening a CMCMarkets.com ac because their trading platform looks so cool.

Anyone got any thoughts on best trading platforms?

Their platform doesnt look bad but doesnt look like its gained popularity as much as the bigger ones platforms, i might sign up and take a look though.

I use Fxpro and xm.com ( xm very good ) I learnt how things work on Etoro which is basically like facebook but for trading, providing your clever and dont listen to every tom dick and harry like any social network its not a bad little platform, its certainly the easiest to get started on.

Although having said that, because i started on Etoro it was a crappy learning curve to get used to the more professional platforms so some might be better off starting on xm.com or similar rather taking the easy route.
 
The key us setting your exit points before entering and then sticking to them, not being greedy and holding onto a winning position as you can quickly turn a decent gain into a sizeable loss if you stay in too long
 
There was an interesting program on BBC2 last night, Million Traders I believe it was called, looking at people who play FOREX for a living.

http://www.bbc.co.uk/iplayer/episode/b04jjjc2/traders-millions-by-the-minute-episode-2

For me it looks like a quick way to lose a lot of money, but wondered if any Acorners had any success with it?

I saw this too, enjoyed watching it. Made it look like it was just old people though when a lot of traders are in their early 30s/40s.

FYI this is a pretty good place to start, they have free forex and technical analysis video courses; http://www.investoo.com/
 
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