So there are a lot of options out there, and I’m seeing different lists of brokers to choose from on different sites, some say you don’t want a specific type of certification and some say other things, the learning curve for such seems pretty steep. I’ve been reading through the material under the “school” section here, and I’ve got a book on Eliot Waves for forex, and I’ve fooled around with a demo account at GFT. I’m not ready to go live yet, but I want to now start practicing where I will eventually be trading.
So, some background information about me…
I am an American, I will just be trying to trade the major currency pairs (for now).
I feel that I would be a quick trader, so low spreads are a must.
When I start I will have in the range of about $5-6K to put into the account, which I think is sufficient (if not quite optimal) to start with a standard account, though I’d like your opinions on this as well. This is money I can risk, and I’m not really willing to start off with more than that. So far in demo trading I’ve not done anything with more than 1 lot at a time.
I will largely be trading at night time
I will probably be focusing on technical analysis, and will try to stay away from trading when big news is going on. At least in the beginning.
What brokers would be good for me?
Also, some further questions:
I do not really understand what “Dealing Desk” vs “non Dealing Desk.” From what I’ve gathered it affects slippage, but I don’t really understand how. So, how does it?
What is hedging, in regards to what some forex brokers don’t allow? I was looking at the forex brokers comparisons and it lists hedging as a feature. Also, same question for “Trading from charts.”
Thank you.