FOREX FAQ's...post questions here!

[Fishmasterdan]

We need a place and info for newbies.
First of all Forex trading (to me) is the way to go because of trading after/before my work hours.

Things I have been looking for (typical newbie).
1. Charting tools /web sites. www.forex.com
2. A simple tutorial / links. http://www.forextips.com/freeforextutorial.htm
3. Good brokers/ ones to stay away from. I like www.forex.com so far.
4. Trading stratigies.
5. Chat?? I read paltalk is that invite only?
6. Links/info for news wires?? Havent found a good one yet.
7. Platforms to use (software such as microtrade)
8.Any other resources you find useful.

Any other info would be appreciated.

Thanks

[captain.cheapie]

A place with information for newbies would be great. I don't know anything about the forex, but would like to learn. I'll look for any information that is sent your way.

[DRD]

:: :

Originally Posted by Fishmasterdan

We need a place and info for newbies.
First of all Forex trading (to me) is the way to go because of trading after/before my work hours.

Things I have been looking for (typical newbie).
1. Charting tools /web sites. www.forex.com
2. A simple tutorial / links. http://www.forextips.com/freeforextutorial.htm
3. Good brokers/ ones to stay away from. I like www.forex.com so far.
4. Trading stratigies.
5. Chat?? I read paltalk is that invite only?
6. Links/info for news wires?? Havent found a good one yet.
7. Platforms to use (software such as microtrade)
8.Any other resources you find useful.

Any other info would be appreciated.

Thanks

[Darth_Trader_HSM]

I invite you to check out my thread. I'm new at forex, and I'm documenting my experiences and what I've learned so far. I try to over explain things in case my meaning is unclear. Feel free to post your thoughts and opinions on my posts. If I'm an idiot, I hope someone would correct me so I don't mislead anyone. Thanks.

Thread:http://www.hotstockmarket.com/forums...ad.php?t=28749

[Fishmasterdan]

What broker had the smallest PIP spreads for trading?
FXCM uses 4 pips for trading

What broker has 200 to 1 margin?

FXCM only go 100 to 1 margin.

[GodofStocks]

Interbank: 2 Pip spread on the EUR/USD ... 3 Pip spread on the USD/JPY

[Darth_Trader_HSM]

Originally Posted by GodofStocks

Interbank: 2 Pip spread on the EUR/USD ... 3 Pip spread on the USD/JPY

Sounds like Interbank will be my next demo account.

[Darth_Trader_HSM]

Here's a question for ya'll...

Say USD/JPY is channeling between 117.70 and 117.98, like it has been for awhile today. Could you say, take up 2 positions, in the middle of the channel....like....

1 Take up a position: Buy USD/Sell JPY at 117.85

and

2 Take up a position: Sell USD/Buy JPY at 117.84

then when the market has made up it's mind and moves up or down, you sell the losing positon, letting the winning position ride to the edge of the channel, or even breaking the channel?

I know, it sounds crazy, but can you play both sides, from the middle? Anyone think it's too risky?

What I'm really saying is this, with stop losses in place, outside the channel, wouldn't it be a fact that you would HAVE to make money eventually... Wouldn't it be a GIVEN....provided that your stop losses were well placed....?

[StockJock-e]

I think we had a couple of threads with a lot more information than here, I will hunt them down and get them stickied instead!

[form4]

Originally Posted by Darth_Trader_HSM

Here's a question for ya'll...

Say USD/JPY is channeling between 117.70 and 117.98, like it has been for awhile today. Could you say, take up 2 positions, in the middle of the channel....like....

1 Take up a position: Buy USD/Sell JPY at 117.85

and

2 Take up a position: Sell USD/Buy JPY at 117.84

then when the market has made up it's mind and moves up or down, you sell the losing positon, letting the winning position ride to the edge of the channel, or even breaking the channel?

I know, it sounds crazy, but can you play both sides, from the middle? Anyone think it's too risky?

What I'm really saying is this, with stop losses in place, outside the channel, wouldn't it be a fact that you would HAVE to make money eventually... Wouldn't it be a GIVEN....provided that your stop losses were well placed....?

Good idea, I think... Just stumbled across this:
http://www.investopedia.com/terms/d/doubleonetouch.asp

From here (thanks tnis0612):
http://www.investopedia.com/articles...dingOnNews.asp