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Trading

fkheng said: "How practical is FOREX trading for an individual investor like me? (meaning not trading on an active basis as I currently working)"

AlfredSokol said: "That's the same question I ask myself. I've been interested in trading Forex but it seems like a place where individuals can get killed."

fkheng said: "yeah i get what you mean...it's scary... arbitraging and stuff like that...i think forex trading is onli practical if you are serious in entering it and monitoring and actively looking for loopholes... apart from that, unless i am a millionaire or more, there is probably little meaning for me to invest in the FOREX market, or park my money overseas in different currencies to exploit forex rate variances. anyone differs on this with me?"

fxinvestor said: "[QUOTE=fkheng]yeah i get what you mean...it's scary... arbitraging and stuff like that...i think forex trading is onli practical if you are serious in entering it and monitoring and actively looking for loopholes... apart from that, unless i am a millionaire or more, there is probably little meaning for me to invest in the FOREX market, or park my money overseas in different currencies to exploit forex rate variances. anyone differs on this with me?[/QUOTE] You no need to be a millionaire to trade in forex. Trading on forex requires a margin account. You are committing to trade and take positions today. As a speculator trader you will not be delivery on your product that you are trading. As a Stock Day Trader, you will only hold a trading position for a few minutes to a few hours, and then you need to close out your position by the end of the trading session. All orders must be placed through a broker. To trade stocks you will need a stockbroker and to trade currencies you will need a Forex currency broker. Most brokerage firms have different margin requirements. You need to ask them their margin requirements to trade stocks and currencies. A margin account is nothing more than a performance bond. All traders need a margin account to trade. When you gain profits, they place your profits into your margin account the same day you profited. Whe you lose profits, they need an account to take out the losses you incured that day. All accounts are settled daily. A very important part of trading is, taking out some of your winnings or profits. When the time comes to take out your personal gains from your margin account, all you need to do is contact your broker and ask them to send you your requested dollar amount, and they will send you a check. They can also wire transfer your money or with other money transferring method. So don't be afraid to learn how to do forex trading. You can always use virtual trading method to learn before you are confident to enter with real money. Finding a good forex company with a good trading platform is the first priority to start in forex. These trading company must also provide demo or virtual trading environment for you to learn."

alhamid said: "i am trying to learn now and its complex"

FXGuy2000 said: "To learn trading takes a lot of time, not only do you have to learn what most of the indicators do and how to use them to pick out a buy or sell signal, but how to use them with other indicators to make trading systems to tweak your buy and sell options, for instance, ther ADX is a good indicator, but it's not very reliable in the extent of 100% perfect, no indicators are, this is why it's important IMO to use more than one indicator, so as each one lines up to produce a signal at the same time (point of entry or exit) then it's a good sign to buy or sell that trade. It'll take a good 6months on a full time basis to learn most of the indicators out there and a few months or so to divise a system that works best for you. Once you've gained an understanding of these indicators and found ones you like best, pick out some patterns that are shown when the market opens and closes, while using some fundamental news reports to be aware when a possible move in the market is going to happen. So if you're going to do this full time, i would say in 2yrs of soild practice you'll start to make a good living. Part time, I would give it 3-5yrs before you can start making a good living. I trade for 1-3hrs once or three times a week and I make more than what I used to in a year compared to 5yrs of working a 9-5 job. Sometimes I don't trade at all and let my forex robot do all the work for me. :)"