WELCOME to our little part of the world mcgee –
following is copy of post to yet another equities convert (guess its kinda hard to trade the untradeable at this point) to forex ---- we like it and it seems to work just fine
forex has much different regulations (if it really has any) as its an OTC market and not subject to SEC regs in any way. No 25K for shorting, no 3 day rules — just pure and simple trading which is why i no longer go near stocks myself.
forex is one of, if not THE, most trending trading vehicles there is, and we know the trend is your friend, so once you learn the reversal times, that a 24 hour day will contain at least one MAJOR reversal of direction, if not trend, you will adopt easily.
its pretty simple, but there are some methodologies specific to forex that do not exist with equities, especially because of the 24 hour day, so watch and learn, find the time period (ie: WHAT market do you wish to trade ?) and go to it.
you may well find that REAL money trading doesnt always work as nicely as demo trading, but its not usually a really big problem.
BUT – with the margin you have to work with, you had best be VERY careful of margin calls, because you cant just simply wire more money — get a margin call and WHAM, they close out as many of your trades as needed to bring you back into positive equity, and THAT can be a real drag !
a trader can trade almost anything, once they learn some simple ropes, and forex aint no different or harder (probably simpler, actually) than stocks.
enjoy and trade well
mp
[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 !![/B][/I]
