Anyone Forex trade?

mannika · #1 07-17-2005, 01:32 AM

Just wondering if anyone here trades Forex. I was thinking of dabbling a bit when I go back to school in September for fun, and was wondering how difficult it would be to pick up. Is it something like poker where I can read a few books and then have a solid base?

Also, is the trading primarily technical or fundamental analysis based? I'm not a believer in technical analysis for equities, but my understanding is that in FX it can be useful.

Thanks.

Sniper · #2 07-17-2005, 04:46 AM

The best way to get started in Forex is to open a play money account at one of the online forex brokers.

Successful Forex trading, like equities, requires a command of both fundamental and technical factors.

Forex tends to trend even better than equities.

With Forex you are trading with huge leverage, with all the pros and cons that come along with that.

imported_bingobazza · #3 07-17-2005, 07:22 PM

Ive been looking at this as well, highly liquid and 24 hours a day....but I dont think its easy, and you should have a solid understanding of what type of fundamental factors effect the forex market, as well as the technical analysis part. There are plenty of books for trading forex at Amazon, or you can go on a course or pay a tutor.

Good luck, and be careful with the margin.

Bingo

skierdude1000 · #4 07-20-2005, 10:23 AM

Forex is not easy, but certainly one of the most profitable trading options out there. 1.6 Trillion dollars a day makes its rounds on the forex market.... ya, can you say liquidity?