I’m a canadian with parents originating from Haiti. I’m a part-time student in economics and have a full-time job that allow me to keep up on the daily basis. I have a basic conception of the forex market, but I want to learn more from experienced people. So far, I have used a practice account at forex.com to help me understand a little bit more. I’ve also bought a book about the forex market at Chapters. I know forex is not something that can be learned overnight, but I am willing to learn it, and hopefully make it a second income or maybe a career. Please point me to the right direction, training, conference, seminar, workshop, anything that would really get me started.

Each day, millions of trades are made in a currency exchange market called Forex. The word "Forex" directly stems off of the beginning of two words – "foreign" and "exchange". Unlike other trading systems such as the stock market, Forex does not involve the trading of any goods, physical or representative. Instead, Forex operates through buying, selling, and trading between the currencies of various economies from around the world. Hope this is enough info about forex that you would like to know.

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Looking to learn more about currency trading any good books on the matter would be helpful. Also looking to start an account online to accomplish this. I heard of Forex? anyone that has shorted currency with success I value your answer. Is there a George Soros in the house?

FX (Forex)… currency trading…… there is no such thing as shorting…. not in the same sense as you would with stocks. All currencies are traded in pairs. You either buy the pair or sell the pair to establish a position. So the EUR/USD would be a good example. You can sell or buy this pair which creates the side of the position you want…. buying the EUR against the USD or buying the USD against the EUR.
It’s not magic.

So… any Forex broker can do this for you. The problem is….. they all stink. Some less than others. If you’re a USA citizen… stick to a USA firm like;
GFT
FXCM
IBFX (InterbankFX)

Forex will quickly wipe out your portfolio…… unless you take years to slowly learn trading & practice very good trading money management skills. Lots of people and companies make it sound like people are getting rich everyday from trading FX. If you approach it that way…. I guarantee you’lll quickly lose your account.

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i am currently trading forex with one broker but they charge $20 withdrawal fees and Euro conversion rate. Can any one please recommend good forex broker (ECN reg’d ) and who dont charge withdrawal fees

I personally use FXCM and so far I never had any problem. You can compare multiple brokers directly in any of the most famous forex reviews websites like forex top ten.

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hi im 19 and took some loses in forex recently and im fed up with the 50% moves against me way too risky. and the stupid thing is i was compltetly right! i am a stock trend follower and so the eur was in a negative trend and instead of just letting my profits run i had to get all stupid and buy instead trying to predict a bottom I AM AN IDIOT for this i dont know why forex is sooo much different than stocks i think i could do it but i need more practice or something. but options i have better luck with because its following what a stocks going to do and im good with stocks. whats more risky though?

Forex is only more risky because of the 100:1 leverage. But that is also maximum risk and maximum drawown to your account. Leverage is the killer, not forex.

You don’t have to trade at full leverage. De-leverage to zero, and forex becomes tame. So do the profits, but so does the risk. Everybody wants to get-rich-quick, and blows out of their account.

Options are designed to expire worthless, a wasting asset, where you not only have to be right on direction but also on time. You may get it all right once or twice, but the trick is to find something consistent, where one big loser doesn’t wipe out all of your work. Difficult to use stops on premium fluctuation. Difficult to forecast implied volatility.

You can deleverage somewhat to a more sane level by trading forex futures; still a little over-leveraged for me, especially the euro. I get better fills in the futures, and futures are regulated, unlike the forex gaming arena run by banks, by banks rules. I’ve had some forex dealers refuse market orders; what kind of crap is that?

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I need a site that will educate me on how to trade on forex and Interpret candle chart perfectly.
thanks

Hi,
Babypips.com is an awesome educational site, its completely free, dumbs even the complex stuff down enough that you can easily learn it and makes it fun. Its set out like a school – from kinder to college, going from basic stuff to more complex things. Charts types and interpretation is in kinder, it even has a pop quiz to see what you learnt.
Good Luck!

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Does any forex trading software or broker’s trading platform provide real time volume?

check it out from this site. their innovative "no software download" technology means you can trade in real-time online. you simply login to your account and trade anytime, from anywhere. and they keep you up-to-date with the market with live real-time quotes and live data feeds from Reuters. they use the latest and most sophisticated and advanced technologies in order to offer you up-to-the-second quotes. you may check your accounts and positions in real time, 24 hours a day, and make a deal based on real-time information. all the best.

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I like hedging and I don’t want them to change my leverage. Any recommendations for NON NFA brokers?
Bianca and Jake. You are both obviously just website advertisements. Since I’m quite a capable trader and do not need to learn from your site I will not be clicking on your links. Bianca, the first thing you need to do is "get to grips" with the fact that people whom spam these websites are the cockroaches of the internet.

Hello George,
you can visit http://www.brokers4forex.com/, they have reviews on two very good online forex trading platforms non-NFA regulated.

One is a great forex trading broker that gives you 5$ to start trading without depositing, the other one is another good forex broker to start with.

Marketiva has fixed leverage (1:100), on Etoro you can change it, but Etoro doesn’t accept US customers.

Do not hesitate to contact me if you want to share some info on forex

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I want to learn all I can about this company, before investing any amount

I dont know from your question if you think forex is a company or not (it isnt).

Also there is a misconception that FOREX is like investing, like you buy something and you keep it and itr grows in value. Thats not true, its speculation on short term price variations between currencies, to make money you have to do it over and over again and be right. Statistically 95% of people who open a forex accountlose it in abut 3months. Its not impossible (I have been doing it for one year) but I suggest you read up on it.

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I want to put forex trading system in my trading, but many brokers offered so many systems and they claimed, their product is the best. Please can anybody help me?

The best way to compare multiple systems is to red Reviews websites like Forex Reviewers or Forex top ten.

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I am not sure with which one to start. I am not going to start immediately. I am thinking on reading some books and practicing on paper markets or practice forex markets.

Trading forex at 100:1 leverage can blow out your account quickly. Either de-leverage or swing trade. A trader can trade almost any market. Doesn’t matter which, and it will take time to develop a preference. Each trader must determine his own time frame and market.

There is no such thing as "easier," or "better" in the markets, in general. Those are subjective terms. Learn to think precisely, in full truth, not "in general." If your aim is precise, you will hit your target or know why you misse.

Trading is the most difficult challenge you will ever choose, and thus the statistics that 90% of all traders lose money. Most successful traders lose everything several times before they figre it out, after several years of hard work. If you’re doing it for the money, you will grow weary easily. You have to be driven to trade for itself, before you will become a trader, and then maybe not.

Read all you can and study hard. Do not rush to throw your money away. Like you said, trade a simulator.

http://simulator.investopedia.com/Default.aspx?viewed=1

Develop a trading plan, including stops and money management. When you have 100 trades on a simulator you will see a pattern. If you lose, nothing lost, and time to study more and revise your plan.

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