How to make money out of forex

[Felix Profound]

Hi everybody
I'm here to give some valuable advices about trading Forex. I hope some day in soon future, this topic be very useful for everybody interested in this about. This happens just by a group help.

First of all, I am interested to lead the subject with an important question.

Why Forex?

In other world what makes Forex specific to motivate us to trade it (out of other instruments) ?

 

[Gundini]

Hi everybody
I'm here to give some valuable advices about trading in Forex. I hope some day in soon future, this topic be very useful for everybody interested in this about. This happens just by a group help.

First of all, I am interested to lead the subject with an important question.

Why Forex?

In other world what makes Forex specific to motivate us to trade it (out of other instruments) ?

I don't know, volatility?

So what valuable advice are you going to give us?

Or is this like a course....

 

[MS+Tradesim]

"Ooh! Ooh! Pick me!!"

*Stretches arm up*

 

[CanOz]

Hi everybody
I'm here to give some valuable advices about trading Forex. I hope some day in soon future, this topic be very useful for everybody interested in this about. This happens just by a group help.

First of all, I am interested to lead the subject with an important question.

Why Forex?

In other world what makes Forex specific to motivate us to trade it (out of other instruments) ?

Finally some genuine rolleyes: ) advice about trading Forex, bring it on!

Cheers,


CanOz

 

[Stormin_Norman]

cause currency is a ratio, not a price.

 

[James Austin]

oh this should be fun.

but . . . the tendency at this forum is to drive folk like felix away prior to his used by date.

so let's draw it out a little, could we!

 

[Wysiwyg]

oh this should be fun.

but . . . the tendency at this forum is to drive folk like felix away prior to his used by date.

Well it depends how much one values their time I think.Does anyone want to spend minutes/hours on a subject simply waffling on and completely ignoring the subject matter.Most of us are here to learn and teach.

Why Forex?

In other world what makes Forex specific to motivate us to trade it (out of other instruments) ?

Why I trade currency pairs is because of the continuity/fluidity, low cost and ease of transaction.

 

[Gundini]

So Felix, what is you advise?

 

[nizar]

Why Forex?

In other world what makes Forex specific to motivate us to trade it (out of other instruments) ?

I was looking at forex last year but never ended up going through with it, but these are the things that appealed to me.

1. Very liquid, which means just about any trading system will be scalable.
2. Low commissions.
3. Very easy to go either long or short (with stocks there are restrictions).
4. 24-hour market means endless opportunity.

(And yes Im aware many commodity futures markets may also share the above traits)

 

[Felix Profound]

cause currency is a ratio, not a price.

Stormin, suppose one got some money to open a real acount and start trading. There are many OTC markets like Stock, Metal, Oil..
Question is those who come to Forex, why come to Forex? Are they bloody wrong or is there something specific in this market that makes it worth trading.

 

[Felix Profound]

Why I trade currency pairs is because of the continuity/fluidity, low cost and ease of transaction.

Wysiwyg, When you say continuity/fluidity, do you mean there are no gaps in Forex market. If this is what you mean, you are right, this is a difference but not a score cause as I know there is plenty of information in gaps.

low cost and ease of transaction(liquidity) yes, these two come in our list

 

[prawn_86]

My super mod spam sense is tingling.

To the OP, we are watching this thread very closely... Any hint of spam and its :enforcer:

 

[Wysiwyg]

Wysiwyg, When you say continuity/fluidity, do you mean there are no gaps in Forex market.

Obviously it closes on weekends (gap) and there are times when the pace varies but generally speaking they are tradeable 24 hours per day during the week.

 

[Wysiwyg]

My super mod spam sense is tingling.

it`s looking pretty likely.Just thought I would check for integrity first.Mum said never judge a book by its cover.

 

[Garpal Gumnut]

oh this should be fun.

but . . . the tendency at this forum is to drive folk like felix away prior to his used by date.

so let's draw it out a little, could we!

No problems with that mate.

Wysiwyg, When you say continuity/fluidity, do you mean there are no gaps in Forex market. If this is what you mean, you are right, this is a difference but not a score cause as I know there is plenty of information in gaps.

low cost and ease of transaction(liquidity) yes, these two come in our list

So what's on the list mate?

gg

 

[Stormin_Norman]

Stormin, suppose one got some money to open a real acount and start trading. There are many OTC markets like Stock, Metal, Oil..

huh? hows that related to my comment that currencies are a ratio and not a price?

 

[Felix Profound]

Thanks for all comments, Forex market differs from others in this aspects:

1- It is a 24-hour market
I myself don't mind it a real advantage. Cause currency pairs have awake and sleep time like us. From other point of view, most of trading systems have a limited trading hours.

2- High leverage
Most of Forex brokers provide high leverage like 100, 200 or even 400. In my age and experience I haven't found out any fair reason for that. Most newbies lose all their money using high leverage. If you ever heard about money management you know to keep your account away from the danger of blowing out, you should reduce your trading size. In other words not use that much leverage. So High leverage is not a advantage as well.

3- Low Cost & Liquidity
I have never tarded nothing but currency and don't know how much this two factor are important but I'm sure they can't turn a loser to winer

4- No Volume
As you know in Forex we haven't volume. You can not get confirm of all your indicators with most valuable indicator (Volume)

5-?
Then Why Forex?

 

[nunthewiser]

taps fingers.....................

grabs deckchair.........................


do i need a snack?

 

[Stormin_Norman]

cut to the chase please.

 

[Felix Profound]

huh? hows that related to my comment that currencies are a ratio and not a price?

Sorry Norman for misunderestanding. What you mentioned that currencies are a ratio and not a price complethly true but from the point of trader's view all are numbers. We where looking something makes Forex worth trading.