Discussion of Forex Trading and Currency Trading

Is forex trader going to accept my application If I have a misdameanor?

I have a misdameanor larceny from when I was dumb and in High school My senior year It has been roughly one year and I want to trade forex but they told me they do a criminal backround check and they couldnt tell me what would happen they said just fill out an application anyone have a criminal record trading forex? also any other tips on trading forex with only 500 usd I have practiced and my profits are around 90 dollars a day = good/bad what can I do to make better. Also in the trading stocks around 2 oclock you will see a dramatic change in stock levels how about in forex what time In the day is the currency going to drop the most?

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This entry was posted on Monday, June 23rd, 2008 at 9:02 am and is filed under forex trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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4 Responses to “Is forex trader going to accept my application If I have a misdameanor?”

  1. cgimwei Says:
    June 23rd, 2008 at 9:02 am

    Volatility in the fx market is quite high

    Most trading times depend on what you want to trade

    e.g BP, Euro, Swiss you have to trade when the european markets open

    Japanese Yen - Asian market open

    Hope this helps

  2. Common Sense Says:
    June 23rd, 2008 at 9:02 am

    Here's the bottom line;
    Paper trading means almost nothing in Forex Trading.
    (people don't chase stops in a virtual world)…. you don't act the same in a virtual world.
    95% of all new FX traders lose their accounts in 3 months or less.

    Do trade FX if;
    You have used and understand "technical analiysis" for over a year.
    Have traded stocks (not invested… traded) for over 5 years.
    Can afford to lose 100% of what you invest.
    Have you spent the last year reading at least 6 serious books on trading FX?
    Do you understand "position sizing"?
    Do you have an exit plan before you take a trade?

  3. Boris Says:
    June 23rd, 2008 at 9:02 am

    Most likely they will let you trade. I think in terms of trading they are more concerned with financial misdeeds and money laundering. Your past crimes make no difference to them since YOU are giving them money, they will take it quite happily.

    Also I would advise against trading FX with any less than $5000 regardless of how good you are. With 500 you cant tolerate ANY mistakes, losing 300 would trigger a margin call and 300 is basically two or three stop outs.

    Congrats on at least practicing first most people dont even do that. If you are really consistent simply try to save a bit more, minimim 3 or 4K try with more money. If you trade now, you will most likely lose your capital without even knowing if you were good or what you may need to work on.

  4. Joshua Says:
    June 23rd, 2008 at 9:02 am

    You'll be fine but if you're new you may want to consider putting some of that money into a decent Forex trading system rather than going solo man (an effective Forex trading system costs $100 USD max)

    If you're interested I found this site which reviews the top 3 Forex trading systems: http://forex-tracer.the-perfect-solution.com/

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