let's say you put in 1000 usd and the leverage is 100:1. you trade let's say for instance USD/JPY at a rate of 1 USD for every 100 Yen for example. you buy USD and you run out of money in your account. my question is, is the leverage ALREADY given to the trader or the trader is trading without leverage meaning that the trader's 1000 USD can become 100,000 dollars? i'm confused because i heard that you can only buy or sell in the amount of 100,000.
I just stumbled upon Easy-Forex and am very interested in investing some money. Has anyone used this service? would you recomend it?
My dog ate most of a $20 bill and I have about 40% of it left. The serial number is still intact.
I have been investing in the stock market for several years, but recently Forex has caught my eye with claims of huge profits, and I have some questions:
1. Is there a site with free tutorials about Forex, the same way Investopedia.com has for stocks? Is there a Forex simulator where I can try it out using fake money?
2. What kind of initial investment does Forex require? What are the commissions/fees like if any? What is the average return (%) for most Forex investors?
3. Where/how do you open up an account? (I'm Canadian.)
4. Is it a lot more speculative/luck-based than the stock market? (A lot higher risk?)
5. I've heard a lot of people talking about "systems", "software", etc that they are charging money for. Is there any free software I can get? Are most of the people involved with Forex scam artists or are there some legitimate ones?
Thanks
Also what are these "pips" I keep hearing about?
Since nobody has answered yet I went and found a great tutorial site on my own, http://www.babypips.com. It also offers links to brokers that offer free demo accounts.
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