Can ANYONE trade on Forex?

I have been practicing with demo accounts and I am ready to trade FX for real. Can I do it myself, or do I have to go thru a broker ?

WELL ---- if your background is such that the security guards will allow you to enter one or more of the great “interbanks” who handle the forex world, transport you immediately to the hallowed trading rooms and sit you down at your own desk, youre gonna have to find “something” to take your trades originating from your computer, and throw them into “some” form of forex market order taking and executing system.

since few of us have fathers who can provide the scenario above, our lowly PC, with its internet connection is our only way — now, way down on the other end of your cable, satellite or telephone line will be some form of “doorway” to the forex trading world.

for most, this is either a broker or an ECN, as there just aint no other choices, unless you start your own company with a few million dollars — that DOES work for some, but for us there will have to be a “broker” or ECN at the end of that internet connection.

sorry, but thats the way it is !



ty MP
thats what I thought… had to check.
So, the demo accounts are there to get you hooked up… and then u cant even trade for real FOR YOURSELF. Ok then. Thru a broker, can you effectuate trades with the same ease ? ( I’m running ExpressFX to practice my demo account) Also, thru a broker, are you provided with website and/or software to monitor the whole thing ?

your demo account through whatever broker you’re using now will be almost identical to that broker’s live account. They set it up that way.

So if you’re using ExpressFX and that’s through some broker, and you want to go live with them then the only thing that will change will be that you’ll deposit your funds.

Everything should act the same way.

ty for info virtec
For now, trying to find a broker that will let me open an account for 100usd lol gotta make sure I can attain same result I was getting with demo account. Found a couple, but it seems like it will take a few business days before I can actually get set-up…and they sure want to know ALL personnal info… that IS normal I assume…right ? lol

correct —

bush set it up so ONE – the IRS knows everything you do and TWO – if youre laundering drug cartel or terrorist money, $100 at a time, they will be able to catch you.

might i put forth a simple thought, designed to keep you with your dollars ?

$100 is precious little for one without a lot of experience, even if you follow every known law of money management, and get REALLY LUCKY, which USUALLY doesnt happen.

PLEASE demo more, with no more money in the account than you will be putting into a real account because the larger your demo account, the more a cushion and “easier” it is to make money — its part and parcel of the “broker” getting you into HIS/HER market and youre more than likely to start losing, not winning.

Forex is really NOT hard at all, BUT it twists and turns, does backflips and anything else one can imagine, and while its not done to get your money per se, the outcome is that it WILL, unless you are one of those BORN traders which only you can answer !

PLEASE give it more time and more equity (which doesnt mean larger trades, but simply a bit of cusion for your margin)

there are tons of “systems” and methods on this site of varying degrees of risk, drawdown and reward — PLEASE find one with smaller drawdowns and fairly simple just to help you in the beginning.

hope to see you later on

enjoy and trade well


ok, good advice again MP ty

Figured if I could double my account on a daily basis (demo account), then I could start with 100 and see it multiply into 1600 at end of week lol

Yes the personal information is needed because if it is a legitimate broker they will send you a 1099 I believe…or tax papers.

It will take a couple business days to transfer funds. I would suggest you start with Oanda as your broker. I did and I love them. They allow any amount of money to begin, and you can specify any lot size. Best of all, you can fund them via paypal and it only takes like 2 days to complete.

As for the trading, I would focus on achieving good results with the minimal draw down…even if that means taking small take-profits.

My trading plan takes profit at 10 pips. I don’t use a stop-loss but monitor my trades and 9/10 of my trades are positive.

Work hard and absorb all you can and trade live with real money and small lot sizes. You’ll get it.


You have to go through a broker or have someone at the main exchange to execute your trades.

let us know if you need more advise or any other questions.


you CAN trade without a broker but be ready to get ripped off. Banks such as bank of America (my current employer… not for long I hope) buys and sells foreign currency but the spreads are HUGE… even on the majors… 1k pips apart… you would really have to be a long term trader to win with those spreads.

tyvm for prompt responses/advices to my Qs.

Am off to school of pipsology lol

There is a positive combination of trouble-free indicators and technical analysis that can time after time and precisely tell you where to get into and out of the market with a enormous profit and laser sharp accuracy. This didn’t come to pass overnight. It took some years of restless nights, irritation and limitless combination of so many indicators and systems.:slight_smile:

WOW — you got one of them also ---- WALMART must be having a sale, cause thats where i got mine !

but ill sell mine much cheaper — three boxtops from “oreo” boxes and its yours !

enjoy and trade well


[I][B]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !!

Care to expand on this ?

theres a certain . . . . . . . how shall i say it ? - - - - - - - smoothness and yet a lyrical sense of advertising to it.

informative on the one hand and yet so bequiling on the other — like a fine wine, oysters and that special “other” ---- so much hinted, but what to be delivered ?

ah, capitalism