Welcome !

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peterg

Senior Investor
#1
Hi everyone!
Welcome to the new Forex Traders forum in GoldenTalk !

Please NOTE: Same General GT Discussion Rules apply
NO ADVERTISING PLEASE!

SO IF YOU ARE AN EXPERIENCED TRADER, A MARKETIVA MAVEN, OR AN OANDA DEMO SCALPER (LIKE ME) THIS IS THE PLACE TO POST YOUR TIPS, TRICKS AND CRIES FOR HELP.

Get it on! :D

Hello.. ??? Is there anybody out there........ *creeps quietly away...*
 
#2
heh, I hear you Peter.
This folder is a marvelous idea. It may start out slowly but give it time, I suspect it will get much more active over the next months.

It's clear that successful Forex trading is 99% experience and 1% education -- I'm still absorbing the 1% education right now:) BabyPips site has been a great stepping stone so far.
I'll get demo account(s) going before the end of Feb.
 
#4
kyteflyer said:
Long overdue, this one :)

Hope to pick up many tips and tricks, I am such a forex n00b.
Me too kyte, such a noob.
At this point, about all I'm good for is regergitating what I read about it all.
Straight from BabyPips, I enjoy the Technical analysis of the market. The Fundamental analysis is what I'm uncomfortable with.

Once this thread gets heated up, perhaps PeterB can chime in to enlighten us all some...maybe give us some teasers from his upcoming training course, eh:)
Matter of fact, what has finally driven me to attempt trading Forex is seeing what PeterB has managed to accomplish with it. I need to make it work without his decades of experience though, heh.

It would be pretty sweet, month after month, to feel confident about being able to make near 20% doing your own trading!
 

kyteflyer

Senior Investor
#5
Now thats a nice thought, Scott. Of course, you need a decent wad of seed money to play in this field so I am doing the Oanda thing whilst I figure out where that is going to come from. I'm starting to put $$ into a separate account (offline) and see how much I can get into there, first, and whilst I am waiting... learning, reading, learning, reading. I havent done anything at Oanda for a couple of weeks, I wish I was good enough for it to be my regular job :)
 

peterg

Senior Investor
#7
I'm on Oanda FxGame just about every day, and like Scott have filled my brain with all the stuff from babypips.
That's really a great site for someone to start learning what it's all about!

I had some 'Beginners Luck, made over 1% one day and started to think "Oh, I can do this!" then *Crash* $4000 (4%) of my Oanda virtual account went out the window. Talk about a learning curve!

I'm still getting confused with forecasts that don't seem to come true.. as an experiment one day I traded opposite to the 4Cast on Oanda, made money in the AM then lost it in the PM... maybe there's something to learn there too - I'm on the Asian Exchanges before London and States wake up ?

I'll be looking forward to tips and tricks from you experienced traders out there, and now I have an understanding of how it all works, I'll be looking forward to seeing PeterB here too.
 
#8
Hey Peter, want to really warp your brain on this stuff?...then check out the Oanda forums...one could spend weeks just absorbing that one pocket of info
Man, I thought HYIPs had just toooo much info around to ever absorb enough to get the hang of it but tis no comparison to the amount of info around on Forex, my gawd all over the place! And it seems every 5th party or so has a (new)winning system, at least for a few months anyway:)
I really dig all the math and charts.
It can get kind of scarey, even disheartening somewhat though -- seems there are plenty of traders in the Forex gig for years and years and finally learn to be happy with figures like 2-5% or so per month...I gatta make more than that on it, lol.
Just kind of spooky is all, every tiny bit of info I learn gives me growing respect for how well PeterB is able to perform.
 
#9
Have a solid trading system and good discipline are keys to successful trading. There're many good trading systems created by experienced traders in forexfactory.com

It will take u a lot of time to learn those forex stuffs but it's worthwhile. :)
 
#10
Hi everyone,

hope you are well,

Have just really noticed this topic as I don't regularly visit or post here. I became interested in Forex trading several months ago basically because of the liquidity that goes with it. I'm only just starting to study in depth from various forums and sites and pretty much on the basics. I've had a look at a few demo accounts but still unsure which is the best one that suits me. I believe that I will be looking more at the tech. strategy as this seems easier to me than fundamental although feel that fundamental is an area that does not want to be forgotten. Although trading seems quite easy to do I'm finding from demo-ing it's a very unforgiving way to trade and its the experience I lack and probably need to do more homework.
strategies seem to be the key on trading, I'm sure if someone had a flow chart step by step on strategies we'd all be billionaires but sadly life isn't that easy.
I will definitely be checking the topic more often and hopefully once I feel I know enough will be able to help each other out.

- great topic thanks peterg

All the best,

Spinner
 
#11
I always find it interesting when people new to trading decide that FX is the market they are going to "learn" most of them wise up over time and realize there is very little chance they will ever make it as a forex trader. The simple fact of the matter is that all those new traders are the food for the sharks in the forex game. Forex is simply the wild west of trading. There IS NO regulation of brokers, anybody can put up a website call themselves a forex broker and start taking money in.

The whole there is no commission is a joke, what do you think the spread they take from you on each trade is? A commission of course.

What other market do you know of that will "requote" the price of something as soon as you want to buy it?

Or the very nasty practice of increasing the spreads just before market moving news comes out...or stop hunting smaller investors and constantly eaten alive by the big boys hunting down their stops...

Once you cut through all the hype of recent years and get right down to the fact of the matter, the Forex market is the worst market for the small home based investor. You are NOT playing on a level playing field and you do NOT have the resources to ride out the losses that big boys throw at you with the deck stacked in their favor.

If you want to make a living trading and a better return on your investments, learn to trade Futures.. fully regulated, and a completely even playing field due to the centralized exchange system.

Just my two cents worth...
 

betsybee

Super Moderator
#15
@jrob195

Why do you ask for a good broker for your friend then answer yourself promoting a good broker, all within 5 minutes?

It wouldn't be an Advertisement would it?
 
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