Joined: Jun '11
Age: 55 (M)
Posted by Jibberish: could you explain more into what the Forex market is, im sorry ive never heard of it
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.
That is the basic's of it ....there are some brokers or market makers out there that offer small no deposit bonus to try them out but not many.
But most if not all offer a pratice account go for an micro or nano account that uses the metatrader 4 platform.
Some of the best brokers will not let you open a live account untill you have been active on a pratice account for about 3 or 4 months unles you are a pro trader like Nick Leeson joke
Joined: Jan '10
Location: United Kingdom
Age: 33 (M)
Trading currencies t0xic. buying a currency for a currency then re-trading said currency for hopefully more than you bought it for. 2 general ideas are buy and sell quick, and trade lots, or buy a lot and then wait for a longer term. Watching and analysing trends in the market is the key... short term is best imo especially with the fragility of the markets atm. holt, ive been playing around for about half a year, my old poppa used to work in the city and passed me a few tips. Generally, set yourself a target for each currency, always trade in 1/75 > of your total sum, play it like a job, really do your research or market and trend evaluations, and keep an eye on the politcal stability of the country you intend to trade currencies.