User Name: Password:      Register - Lost password?
FX TRADING DISCUSSION

Forex Forum     ← Back to Threads

Sort Order: Latest Post on Top - Latest Post Last            Post Reply

Indianapolis, In ADM  21:07:07 GMT - 10/15/2012  
I'm just starting out with a practise account at forex.com, and another at censored.com. From what I've seen so far, I prefer the forex.com platform, but they only allow you to practise for 30 days. That's why I went to censored.com. Not sure yet where I'm going when I'm ready to start trading with real money.

I started out selling 100,000 EUR/AUD at around 1.26, and placed my stop loss at 1.32. I've calculated a potential loss in excess of $8,000 US.

I find it interesting that I had to do those calculations myself. I get the feeling they want you to feel, and act, like you're in a casino. Even though it's only play money, I'm trying to act like it's real money. Better practise that way.

I think forecasting currencies is actually easier than forecasting stocks. Only problem is, unlike stocks, if you approach the currency markets without a good plan, you're going to get your butt handed to you real fast.

And why did I decide to play the short side of EUR/AUD? Over the past year, EUR had the strongest performance, and AUD had the weakest. Just following the trend. And if we've reached a turning point in the market, well that's what stop loss orders are for.

I would appreciate some feedback on what I'm doing from some of the more experienced traders.


Indianapolis, In ADM  21:10:18 GMT - 10/15/2012  
Clarification: AUD was the strongest, and EUR the weakest. Just a typo.





Retail Forex Traders Association

Monthly FREE: Forex Newsletter, Special Reports, Webinars. and more. Join now

  Take a moment and check out what our sponsors have to offer by clicking on their ads.

Test Drive a Better Broker

forex brokersNEW! Global-View best brokers list section.  ASK US. for info.

Best Brokers List


  Alpari Forex

 

CMC Markets

Forex Services -- Free Trials

Global-View offers a full slate of currency exchange services. 

  • Real-time forex signals for trading. 

  • Trading Analysis and currency trading tips.

  • FX charts and live forex news.

Free trials  Forex (currency trading) Services

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex