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FXCM Trading
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KiLrOy
Master |
03-Jul-2007 09:34
Yells: "I buy only what I can see." |
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I am really not in the position to give you any 'technical' pointers. Its unlike the stock market as there are no BBs for sure! haha. If you go to the FXCM website and start off with Why FXCM and move down further, you will get a clearer picture of FX trading with FXCM. Prior to starting FX trading, I bought this book from our Kuni bookstore for about 35SGD. I think if you thoroughly understood whats written in FXCM, the book below will just supplement it. But its def a must book for starters. http://www.amazon.com/Getting-Started-Currency-Trading/dp/0471713031/ref=pd_bxgy_b_img_b/104-5041934-7617533 Our NLB has a couple of FX books worth reading but be prepared to queue as these are hot topic books. One of which is by Raghee Horner. Her method is simple (operating the charts with one of two indicators depending on the identified trend) and I really mean simple. Whats keeping us from following it is our emotion. She also has a website and I have attended about four of her LIVE webinars so far. http://www.raghee.com/. I dont employ her strategy as I have my own that works for me. You can even replay her past webinar for free from her website. http://www.amazon.com/ForeX-Trading-Maximum-Profit-Secret/dp/0471710326 The most important would be again money management similiar to stocks. Understand how much drawdown you can absorb vs the capital that you have. At the end of the day, we want to make money by mitigating the risk involved thru the use of money management. Hope this helps. |
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chipchip66
Master |
03-Jul-2007 00:13
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Hi Kilroy, glad to know that you are into it. Yes, i m interested to go into FX and would u mind give me some pointers?I m totally a greenhorn. I hv been trading shares since 1995 but not FX until now. What is the comfortable anount to trade being a newbird? 
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KiLrOy
Master |
02-Jul-2007 23:45
Yells: "I buy only what I can see." |
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Do you really wanna trade FX? hehe. Unlike the stock market, there is NO breather during the weekdays. Its 24 hours starting from 5am Monday to 5am Saturday (+8 GMT). |
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KiLrOy
Master |
02-Jul-2007 23:31
Yells: "I buy only what I can see." |
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You should download the demo and try the platform for about 3 - 6 months to see if you are comfortable with it. There are other FX brokages such as interbankFX etc as well. Each has its pros and cons in it system used. I have been with FXCM since 2002 trading FX as my main source of income. To me, support is paramount even though their offices are in US, London and HK, the respond I am getting is simply outstanding. |
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chipchip66
Master |
02-Jul-2007 22:49
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Has anybody has an account with FXCM? Could anyone advise if it is good? Thinking of trying it out. Any reponse is appreciated.
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