what do you say about Forex Trading ?

[seforx01]

I have need some information regarding Forex Trading. So please let me know what do you say about it so that i could develop my self in this. coz.. i m new in this line.

[pipsquek]

Eh.

from my experience do allot of practice in a practice account. then try a micro account. with minimum cause your more than likely going to lose it. but its good for the experience. Real money makes you think a whole lot different. then practice more.

Im not a professional and am still in a practice account. but i have lost my starting balance in real a couple of times. im working my way to starting a micro again when im confident enough.

[kamikazical]

then try a micro account. with minimum cause your more than likely going to lose it.

I believe the smaller the account, the more likely you are to lose it. I would recommend opening an account with much MORE than the minimum, but trading in micro lots. That way you can afford some draw downs.

This common idea of starting an account with the bare minimum looks good on paper, but you have to remember it greatly increases your chance of a margin call, which = a blown account.

Just deposit more money and WATCH it. Don't let it fall below what you are willing to lose. (In fact, if you aren't willing to lose some money, don't invest at all. Go back to demo accounts. You'll get there eventually, don't rush it.)

[MedicalChew]

I believe the smaller the account, the more likely you are to lose it. I would recommend opening an account with much MORE than the minimum, but trading in micro lots. That way you can afford some draw downs.

This common idea of starting an account with the bare minimum looks good on paper, but you have to remember it greatly increases your chance of a margin call, which = a blown account.

Just deposit more money and WATCH it. Don't let it fall below what you are willing to lose. (In fact, if you aren't willing to lose some money, don't invest at all. Go back to demo accounts. You'll get there eventually, don't rush it.)

Mostly true only with brokers that don't allow you to break up the lots into nanolots, and most don't.

If you want to feel the pinch of real money at very low cost, go OandA. you can trade even 1 unit as opposed to minimum 1k

Back to OPs query, what exactly are you after and want from doing Forex? It's no get rich quick scheme for sure but definitely a worthwhile thing to study for consistent sizeable profits.
No harm in trying to learn it, there's tonnes of demo accounts provided out there to practice on to see if you've got the stuff =P

[pipsquek]

I believe the smaller the account, the more likely you are to lose it. I would recommend opening an account with much MORE than the minimum, but trading in micro lots. That way you can afford some draw downs.

This common idea of starting an account with the bare minimum looks good on paper, but you have to remember it greatly increases your chance of a margin call, which = a blown account.

Just deposit more money and WATCH it. Don't let it fall below what you are willing to lose. (In fact, if you aren't willing to lose some money, don't invest at all. Go back to demo accounts. You'll get there eventually, don't rush it.)

I do agree with this, this will be my statage when i go back to real account. trading fxcm micro right now. good charting software.

[qwertymyfx]

open a demo account.

practice demo till you get the hang of it.

practice in a micro account till you are making consistent profits.

[SDC]

Demo then micro is the way to go, some said already a small account is easily blown, but that is the whole point, you can blow it during your learning eperiences and not lose a lot of money, there is another plus to that too, trading a small account is a way to practice good money management as a small failing in that can so easily lead to a blown account, all makes for a valuable learning experience and make you a better trader by the time you trade a larger account where real money is at risk.

[phil838]

I believe the smaller the account, the more likely you are to lose it. I would recommend opening an account with much MORE than the minimum, but trading in micro lots. That way you can afford some draw downs.

This common idea of starting an account with the bare minimum looks good on paper, but you have to remember it greatly increases your chance of a margin call, which = a blown account.

That is completely untrue. Almost all major brokers have micro or nano accounts and allow fractional lots. You can open an account with $10 and trade a penny per pip or less if you want to.

Having a small account is only bad if you have a scammy broker that forces you to trade in whole lots. It does NOT increase your risk of margin calls or of blowing your account

[tymen1]

Good to see you back here again Phil838!!

[SDC]

I believe the smaller the account, the more likely you are to lose it. I would recommend opening an account with much MORE than the minimum, but trading in micro lots. That way you can afford some draw downs.

This common idea of starting an account with the bare minimum looks good on paper, but you have to remember it greatly increases your chance of a margin call, which = a blown account.

The whole point of trading a small account is that a margin call does not matter, it is a learning experience, a small account that hits margin call can be re-funded to continue practicing without any risk of blowing your life savings.
BTW margin call does not equal blown account, margin call=margin call which is always a figure higher than zero funds.