Hello, I am calling my self Loonie trader as I am a bit mental and also Babypips has taught me that the USD/CAD is also known as the Loonie, so I may be trading that after I have learn’t some more here.
I love using Babypips website and the sense of fun involved so well done to the organisers.
I have been trading for nearly a year mostly in UK stocks but I did have a few frustrating engagements with the USD JPY. I believed that the trend would be all USD until it got to between 120 and 150 YEN so I have had a baptism of fire after it keeps fluctuations between 94 and 101:31:
That is why I am here, to get educated in the art of Forex trading, and I am doing very well in Pre school at the moment, and I look forward to each and every lesson so far :32:
I do have my first question ready and it is this:
When it is stated that the Forex market sees up to 5 trillion dollars of trade per day, is that 5 trillion after leverage or before leverage?
Hi
It’s nice to meet you
IT’s my first time to write here in this site, and I write for you now
I’d like to introduce myself. I’m Osama Mohamed form Egypt. I trade Forex since 5/2013, although I learn since 2/2013. I trade in eToro company and strongly believe in it’s creativity way in changing the trading experience.
Now, I’m learning the EW theory, and believe it’s the best strategy - as I believe in every new strategy I learn XD
Hello Osama, nice to meet you and thank you for replying to my post.
I haven’t looked at EW theory yet, but It is early in my Forex trading experience so I will discover it soon. It might even be on the Babypips forex school course.
I am taking advice from Learning currency trading online for a year, which is where I found the Babypips link. They teach trend following philosophy and techniques.
I have lost nearly £3,500 in the markets in my first year, and most of that is from not cashing in profits on the USD/JPY and then watching the profits melt away and turn into big losses. I believed that the USD would keep getting stronger against the Yen and so I didn’t want to let my position go in case it swung around again, but it didn’t work that way.
I did this twice and the third time I took profit, and since then I have had the odd swing trade on the USD/ JPY with better results. I enjoy trading but the bottom line is to make a profit and hopefully Babypips can help me do this.
Hello Loonie, Glad you’re taking the time to learn. Its sad the number of people loosing money before tgey try to learn fx very well. Beter late than never though I guess. Try to learn all you can first,and demo trade any method before putting up a small cash to try out based on the success of your demos
Elosss, I use IG and Tradefair. They are easy to use though the spreads probably aren’t the tightest so if you have any recommendations for brokers with tight spreads and low cost fees then I’d be grateful to know.
Yes Metobi, there is so much more to Forex trading, but I was right with following the trend, just that the trend has its ups and downs and I didn’t know how to play them. Still don’t but with more study and demo practice I will improve. Thanks for your reply.
For me, I use eToro. The spread is not important. I think it’s the same, whether a large spread or a small one. I look for another features that makes eToro the best from my point of view.
