help from forex traders?

hello everyone i need some help with starting forex trading firstly i would like to know which is the best site to learn all the symbols and so on, secondly i would liek to know as a day trader is it true you have to sit in front of the screen all day to trade, thirdly i have heared about this system called ivybot i want to know if its true about how it can help make you money i am from the uk and everytime i search for information i get sites that look like there going to scam you for information asking me to pay all the time. thank you for and advice and help given much apreciated

14 Answers

Relevance
  • 1 decade ago
    Best answer

    Start with investopeadia, then read some books BEFORE you start trading - The Online Trading Expert is a good one.

    Stay away from bots, you won't make any money that way unless you really know what you are doing.

    Then when you are ready open up a dummy account with IG Index or someone similar to test trading with. Any Metatrader platform is the best for reading charts on.

    No you don't need to sit in front of the screen all day to trade, I trade FX every day and most of the market moves take place between 6 and 9am and from about 12-4pm.

    Useful resources include:

    forexfactory.com

    dailyfx.com

    bloomberg.com

    reuters.com

  • Sarah
    Lv 4
    4 years ago

    Forex Trading is trading currencies from different countries against each other. Forex is acronym of Foreign Exchange. For example, in Europe the currency in circulation is called the Euro (EUR) and in the United States the currency in circulation is called the US Dollar (USD). An example of a forex trade is to buy the Euro while simultaneously selling US Dollar. This is called going long on the EUR/USD. Forex trading is typically done through a broker or market maker. As a forex trader you can choose a currency pair that you expect to change in value and place a trade accordingly. For example, if you had purchased 1,000 Euros in January of 2005, it would have cost you around $1,200 USD. Throughout 2005 the Euro’s value vs. the U.S. Dollar’s value increased. At the end of the year 1,000 Euros was worth $1,300 U.S. Dollars. If you had chosen to end your trade at that point, you would have a $100 gain. Forex trades can be placed through a broker or market maker. Orders can be placed with just a few clicks and the broker then passes the order along to a partner in the Interbank Market to fill your position. When you close your trade, the broker closes the position on the Interbank Market and credits your account with the loss or gain. This can all happen literally within a few seconds. Forex market is very risky so be careful while trading. If you are new to trading which seems from your question then its advisable to start trading with demo account which is free. Demo account will give you all the learning u require to become an expert in forex trading. Once you get well-versed with forex trading concept then you can switch to live or real account.

  • 1 decade ago

    Hi there good day.

    Firstly i would like you to note these points

    - Forex is not about getting rich fast

    - Forex requires hard work and effort

    - Forex is something you get better with more experience

    Now to enable the above to happen, you need PROPER MONEY MANAGEMENT. This is most imnportant and it will save your account for another day.

    Most folks i know get margin calls within the first week and give up.

    Never risk more than 2-3% of your account at one time.

    Most folks sit at the screen all day and worry because they risked too much and it is a matter of life and death for their accounts.

    Therefore if you size your trades proper and have a good plan to enter and exit, trading should be a better experience.

    Since you are new, i would like to invite you to my blog for newbie traders. Hope it helps and trade safe.

  • Anonymous
    5 years ago

    Ehm..

    You should try with Penny Stocks Trading (you can find more info here: http://pennystocks.toptips.org )

    Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at low prices per share.

    I've been subscribing to this PennyStock web site for about a year now and have loved the objective advice they give. He really does look for quality stocks and I've made some pretty nice profits on a lot of his suggestions. Being still fairly new to investing I have been dabbling a lot in penny stocks to try and grow my account. I may not have a big account, but it's a lot bigger than it was a year ago. On just one of Nathan's picks this year I managed to make my investment back ten-fold! Be careful! Penny stocks are notoriously risky but if you follow the right method the risk is almost 0. I suggest to invest only little money first and then reinvest the profits. This is the site I'm using: http://pennystocks.toptips.org

    Best

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 4 years ago

    Here you will find a step by step guide which will hopefully give you a better and deeper insight into how it is possible for you to make money from Binary Options trading https://tr.im/NiDBE

    You will first need to know what exactly Binary Options trading is, whilst this may seem like common sense many people just have a vague idea of what is involved and the exact risks attached to any trade, so make sure you fully understand the difference for example between actually buying a fixed asset and trading in Binary Options as the two could not be more different.

    Next you will need to become something of an investigative journalist when you start trading in Binary Options and by this we mean you need to have a nose for a news story that is going to have a dramatic effect on whatever it is you intend to trade, and one way for you to do this is to keep fully abreast of all the daily financial news stories as this is the only way you are going to be able to make an informed decision on the movement of any Binary Options you are trading.

  • Anonymous
    1 decade ago

    Here is a list of the many currency ETFs. They might be a good place to get started with currency trading. I would recommend you read a good book on the subject first.

    http://top10traders.com/ViewSector.aspx?sector=13

    You might want to create a portfolio at http://www.top10traders.com - the site is free - so you don't have to worry about losing money before you even know what you are doing. good luck.

  • Anonymous
    5 years ago

    Penny Stock is a good way to make high profit. Check this websites http://penny-stock.keysolve.net

    In the case of many penny stocks, low market price inevitably leads to low market capitalization. Such stocks can be highly volatile and if you have the right information it's very easy make a lot of money!

  • Anonymous
    1 decade ago

    If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.

    Marketiva gives you 5$ real to start trading so you don't have to deposit and if you made profit from it you can cash out, this is why it's very good for beginners. Their platform is very easy to use and they have support during trading hours for your questions, doubts etc.

    They also have chat channels where you can talk, exchange opinions and ideas with traders of your country or international traders.

    To open your account please visit http://www.marketiva.com/index.ncre?gid=3371

  • 4 years ago

    I have been trading over 35 years using over a hundred different systems, but as you might guess only few of them showed consistent profits. This is one of them https://tr.im/t6HK8

    What's most important is that they really cares about his fellow traders. Every time I have a question he is here for me, and he replies to emails really fast.

  • 1 decade ago

    As you can see practically every anser has a link to his/her own website (and most of them are just useless).

    Better if you search for forex and open a demo account as good forex brokers provide free quality tutorials.

Still have questions? Get answers by asking now.