Comments on: Who trades FOREX and can you tell me your experiences? http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/ Discussion of Forex Trading and Currency Trading Sat, 19 May 2012 12:35:15 +0000 http://wordpress.org/?v=2.3.3 By: es http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3840 es Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3840 I trade stocks, commodities and have traded forex. I have made and lost money at all three. Forex is a very quickly moving market and you must use stops when you trade. You need to plan your entrances and exits very carefully, but there are times your best laid plans will go against you, and sometimes, you can sail right through your stops and leave you reeling. Before you trade any market, paper trade, and get a feel for your risk tolerance. There are now ways to invest in currencies on the stock market, through Exchange Traded Funds. These move slower and have less risk. You can also check out www.everbank.com. They have CD's tied to foreign currencies. You need to read and educate yourself thoroughly before you risk your money. Don't forget, currencies are influenced by a lot of factors-government interventions, inflation, all kinds of unexpected things happen. if you think you can make a living at this, you can, but it is hard. To do that, you have to be prepared to lose money sometimes. No trader has wins, only. But, only those who control risk can play another day, otherwise you can get wiped out fast. One reason is because these are highly leveraged markets- that works to your favor because you don't put up much $ to control a contract, but you are on the hook for a great deal of money, and could be subject to a margin call if the market moves against you. That is serious stuff. Don't make a move until you are thoroughly familiar with the market, how it moves, and how you will control your risks. Good luck, and happy trading. I trade stocks, commodities and have traded forex. I have made and lost money at all three. Forex is a very quickly moving market and you must use stops when you trade. You need to plan your entrances and exits very carefully, but there are times your best laid plans will go against you, and sometimes, you can sail right through your stops and leave you reeling. Before you trade any market, paper trade, and get a feel for your risk tolerance. There are now ways to invest in currencies on the stock market, through Exchange Traded Funds. These move slower and have less risk. You can also check out http://www.everbank.com. They have CD's tied to foreign currencies. You need to read and educate yourself thoroughly before you risk your money. Don't forget, currencies are influenced by a lot of factors-government interventions, inflation, all kinds of unexpected things happen.
if you think you can make a living at this, you can, but it is hard. To do that, you have to be prepared to lose money sometimes. No trader has wins, only. But, only those who control risk can play another day, otherwise you can get wiped out fast. One reason is because these are highly leveraged markets- that works to your favor because you don't put up much $ to control a contract, but you are on the hook for a great deal of money, and could be subject to a margin call if the market moves against you. That is serious stuff. Don't make a move until you are thoroughly familiar with the market, how it moves, and how you will control your risks. Good luck, and happy trading.

]]> By: Jack C http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3841 Jack C Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3841 I've traded stocks and forex. I like forex as the trend is more steady, i seldom get caught by the market with my pants down, so to speak. Speaking as a trader, all markets are the same. It doesn't matter how you trade each. Do what works for you. And remember: If you do not cut your losses, and let your winners run, any market is going to eat you up. I've traded stocks and forex. I like forex as the trend is more steady, i seldom get caught by the market with my pants down, so to speak.

Speaking as a trader, all markets are the same. It doesn't matter how you trade each. Do what works for you. And remember: If you do not cut your losses, and let your winners run, any market is going to eat you up.

]]> By: Common Sense http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3842 Common Sense Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3842 Unless you understand; Trading Psychology Position Sizing Money Management It doesn't matter how good you are at picking "direction". If you go into FX without trading experience or taking a year or two to really work on your skills..... you'll be out of FX in less than 3 months. Unless you understand;
Trading Psychology
Position Sizing
Money Management

It doesn't matter how good you are at picking "direction". If you go into FX without trading experience or taking a year or two to really work on your skills….. you'll be out of FX in less than 3 months.

]]> By: ajb http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3843 ajb Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3843 Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets. Here is a free site that shows what has happened after economic news releases: http://www.forexnewspatterns.com Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets.

Here is a free site that shows what has happened after economic news releases:

http://www.forexnewspatterns.com

]]> By: forexx http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3844 forexx Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3844 there are many superb videos explaining all questions regarding forex at http://www.forex-profit.info there are many superb videos explaining all questions regarding forex at http://www.forex-profit.info

]]> By: duyduy http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3845 duyduy Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3845 I trade forex by expert advisor. It's automated forex. U can visit my blog http://duyduyfx.blogspot.com It's about expert advisor review I trade forex by expert advisor. It's automated forex.
U can visit my blog http://duyduyfx.blogspot.com
It's about expert advisor review

]]> By: Fred G http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3846 Fred G Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/05/30/who-trades-forex-and-can-you-tell-me-your-experiences/#comment-3846 Some good guides and info here: http://www.estocktrades.info Some good guides and info here:

http://www.estocktrades.info

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