How hard is Business on Forex?
May 17th, 2010 stanleyAny tips on how to start trading?
Any tips on how to start trading?
I’ve read all the information I could get my hands on, and I still don’t understand. I think its because I’m making assumptions from preconcieved notions.
Like, lets say the currency is USD/JPY = 91.003. Does that mean if I buy, I’m spending yen to buy dollars? Where the hell did I get these yen? And if I sell, does that mean I’m spending my dollars to get yen? So now I have yen in currency in my bank?
Also, the prices fluctuate so much. In real life, how do they trade? I mean, lets say I have a profit of 5000$. By the time I call my broker, the prices may have shifted and now I have a deficit. How does that work?
is there a forex forum for beginners to post questions at ?
on the graphs… do you do 1 min bars or hourly bars or daily bars? or maybe 5 min bars?
Because im reading a book and think im getting pretty good but I dont know how long duration they use… or can you use all ?all at same time or one at a time of same currency? and what makes you use one instead of other?
and the bigger length on the bars = bigger pips difference = more money right? for the amount of time you put in
I’m a canadian with parents originating from Haiti. I’m a part-time student in economics and have a full-time job that allow me to keep up on the daily basis. I have a basic conception of the forex market, but I want to learn more from experienced people. So far, I have used a practice account at forex.com to help me understand a little bit more. I’ve also bought a book about the forex market at Chapters. I know forex is not something that can be learned overnight, but I am willing to learn it, and hopefully make it a second income or maybe a career. Please point me to the right direction, training, conference, seminar, workshop, anything that would really get me started.
i hate this because what if it turns out you just made loads of money on your demo account.. that would hurt so much that u didnt do it with real money!!
1:20 , 1:100
Does this effect the loss or profits?
What is good 1:1 , 1:500?
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