New to forex

[AubreyThompson]

One option is to go with a dedicated forex broker (like OANDA), since they are forex-focused and you can generally trade with lower spreads. They should also allow you to use AUD as your base currency.

I am also new to forex, and never knew about Oanda. But now I am using it for currency converter and other stuff, which I find very easy to use.

 

[forexmaster]

i have been trading forex for a very long time and don't see any reason why i shouldn't use the mt4 platform...for me i think if you have a good broker with that platform you should be good to go. all the best man.

 

[kimleow]

checkout babypips.com and I would suggest using an Australian based broker. Your funds will be in AUD, transfers easier as its aussie bank to aussie bank, and if you have a problem its easier to complain to relevant authorities. I currently have live accounts with GMFX and axi trader.

Hello friends,

I'm new to FOREX trading. I have an account with IB which I opened to trade shares/stocks in. However, more recently I've been trading forex blindly because the ASX opens after I leave my house for uni and closes before I get home

As a result, I'd started trading forex a little bit. At the moment My base currency is in USD (which is really annoying), but I hold a few k's worth of AUD because intuition tells me AUD is still on the rise. (may be wrong lol)

So here are my questions to you my fellow traders:

- Will the IB system be suitable for me to trade on? (Anybody know how I can change base currency to AUD?)

- is MetaTrader offered by IB? Can somebody please give a light explanation of why it's so good?

- I only have a few K's to play around with, so should I be trading speculatively or taking more of a "buy and hold" position? (Less than 20K)

Many thanks in advanced for those who can help me out.

-ivanyo

 

[billv]

Hi, I'm also new to forex.
I have signed up with GFT so that I can watch their webminars) (have put $3K into my trading account.
Are GFT good for forex?
I'm very keen to learn, do you have any suggestions on what to do next and are there any good websites I can learn from?
Many thanks in advance

 

[builder2818]

Hi, I'm also new to forex.
I have signed up with GFT so that I can watch their webminars) (have put $3K into my trading account.
Are GFT good for forex?
I'm very keen to learn, do you have any suggestions on what to do next and are there any good websites I can learn from?
Many thanks in advance

If you wanna learn about trading FX, check out Chris Lori.....if you're looking for a "system" of "when to get in and when to get out" you will never find one.

 

[billv]

If you wanna learn about trading FX, check out Chris Lori.....if you're looking for a "system" of "when to get in and when to get out" you will never find one.

Thanks, I'm not looking for a system.
I want to built up my knowledge in preparation for proper training which will take place in December. (similar course to what Chris Lori is offering)
I did find some useful video's on Utube
cheers

 

[Trex123]

Thanks, I'm not looking for a system.
I want to built up my knowledge in preparation for proper training which will take place in December. (similar course to what Chris Lori is offering)
I did find some useful video's on Utube
cheers

can you share the videos you found?

 

[billv]

can you share the videos you found?

There are thousands of videos on Utube uploaded by brokers and traders

Go to this page and on the right hand side there are links for more videos
http://www.youtube.com/watch?v=IZDxC3S7VgY

Alternatively you can search Utube for a particular trainer

eg:
nial fuller
top dog trading
www.learntotradethemarket.com
www.yourtradingcoach.com

or search for an area of interest
eg:
learn to trade forex
how to place my first forex trade

Visiting forums such as the forexfactory.com or trade2win.com and reading the various threads will increase your knowledge but just like anything, to be succesful you need to put the time in and to practice practice practice
I hope this helps