Comments on: About currency speculation? http://www.myylt.com/2009/08/04/about-currency-speculation/ Discussion of Forex Trading and Currency Trading Wed, 23 May 2012 13:23:50 +0000 http://wordpress.org/?v=2.3.3 By: raysor http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17044 raysor Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17044 Well of course it would work. All you have to consider now is what happens if the trade goes against you. Clue; you lose a similar amount. Well of course it would work. All you have to consider now is what happens if the trade goes against you. Clue; you lose a similar amount.

]]> By: BizGuy http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17045 BizGuy Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17045 Yes, it "can" work, but the 1:200 leverage works both ways - you can go 116k in debt just as easily as making 116k profit. A very good site for learning all about the Forex market: http://www.babypips.com/school/ It's a US site, written in a very casual prose/style, but has a tremendous amount of valuable information. DO not start trading until you are confident of your knowledge in this market. Most Forex brokers offer a "practice account" - take advantage of it, and trade with fake money until you are confident in your abilities. Yes, it "can" work, but the 1:200 leverage works both ways - you can go 116k in debt just as easily as making 116k profit.

A very good site for learning all about the Forex market:
http://www.babypips.com/school/

It’s a US site, written in a very casual prose/style, but has a tremendous amount of valuable information.

DO not start trading until you are confident of your knowledge in this market. Most Forex brokers offer a "practice account" - take advantage of it, and trade with fake money until you are confident in your abilities.

]]> By: Aliocha http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17046 Aliocha Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17046 It certainly would not work, since opening a £2m position with a £10 000 account would automaticaly activate a margin call and your position would be closed if only 1 pip (0.0001$)goes against you. Keep in mind that 2m units in trading forex is worth 200$/pip so you would lose 10000$ if price goes 0.0050 (50pips)against you, and you would need at least 20000$ in your account to lose that 10000. Now do you know how many times price goes up and down 50 pips?many. And how hard it is to get in at the right time ? very. aliochacanada@yahoo.ca It certainly would not work, since opening a £2m position with a £10 000 account would automaticaly activate a margin call and your position would be closed if only 1 pip (0.0001$)goes against you.

Keep in mind that 2m units in trading forex is worth 200$/pip so you would lose 10000$ if price goes 0.0050 (50pips)against you, and you would need at least 20000$ in your account to lose that 10000.

Now do you know how many times price goes up and down 50 pips?many. And how hard it is to get in at the right time ? very.

aliochacanada@yahoo.ca

]]> By: RL http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17047 RL Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/08/04/about-currency-speculation/#comment-17047 They can easily wipe you out if you don't control your risk on each trade because of high leverage. It's good to just use 5 -10 % of your margin for each trade. There are also Forex robot that can trade for use automatically: How to Choose The Right Forex Autopilot Robot Trading System and Broker http://www.ehow.com/how_5149233_choose-robot-trading-system-broker.html They can easily wipe you out if you don’t control your risk on each trade because of high leverage. It’s good to just use 5 -10 % of your margin for each trade.

There are also Forex robot that can trade for use automatically:

How to Choose The Right Forex Autopilot Robot Trading System and Broker
http://www.ehow.com/how_5149233_choose-robot-trading-system-broker.html

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