Hello fellow traders

Beginner Questions
1

Hi All

I have been tracking this amazing site for many weeks now. Finally decided to sign up :slight_smile: " YAY me"

I have dabbled in spread betting with capital spreads before, and also had a demo FX account with forex.com. But now im looking to go ahead properly and really learn about forex. Generally the whole trading scene interests me anyways…

Can any of you suggest a good broker to start with? Im in the UK and running on a iMac, i have read about people using MT4 with VMFusion would that be the best way? Id like to be with a broker who has an iphone app too. - is there such? Id like a demo account first to learn their systems so that would be a great help too

also anything else for a newbie like me?

2

Welcome. I’m not an experienced trader but the main piece of advice I can give is (from my early learning days): do your own meticulous research and be mindful of other people’s recommendations. So you’re going to have to do your own homework here and see what works for you. Good luck.

3

Hey Blua, welcome to Forex, (hat tip)… I have been in forex from knowing nothing, to now, (8months)… It WILL BE STRESSFUL, at least for me, Im in this fulltime, making it work…

Get a demo rollin, and start with something small, like $500 @ 0.05 lots. Have a goal of pips per day, mine is 100…

OR, better yet, just get a real account, (micro)

Utilize as much info as you can.

There is no magic system, as most of the system is run by YOU, your very worst enemy,lol…

My favorite indicators are CCI-30, and Stochastics Oscillator, 14-3-30, and slope trend line,

Im a scalper, meaning, I stay in trades now longer the 4-5 minutes, I try anyways… I also scalp by 3 pip gains, then wait for next sure entry… Takes me about 4 hours to get my 100 pips, then Im done for the day…

Something else, just throwing this out there, but I also use the heat index,
Forex Heat Map

to get a general idea of how things are going, and I play the 1mTF, but use the 5M tf for future referance…

Hey, anyways, great luck to ya, Its not an easy game, thats for sure…

4

When I was using a Mac, I ran an emulator to get Metatrader running on it. I dabbled a bit in having a virtual server as well. If you have a smart phone, that’s not a bad idea either. I traded on my phone for a long time. Now I have an iPad and just use this now. Who knows, next year I’m sure I’ll be able to trade with a watch.

5

I have an account with Divisa Capital, so far so good.

6

Most of these larger brokers have iphone apps and MT4. I like Oanda and GFT, very little garbage or bad P.R. between the two for the average retail trader. You want to get a little fancy check out Interactive Brokers, pretty sure they have phone applications as well but no MT4 there.

Just a word of caution, price quotes can fluctuate between retailers, it’s normal. Also the actual bid/ask on the chart may differ and this could effect your trading if you scalp.

For example, on Oanda, the candlesticks will sometimes not show a pip that is actually being calculated via the bid/ask spread. It’s possible to get stopped out without visibly seeing price hit your stop. If you switch the chart to “min/max” it will show you true price. Just some small tricks/things to keep in mind moving forward. But it won’t matter unless you are scalping or getting very, very serious about your entries and exits.