which site do you recomend for investing?
Is five thousand enough to get started?
If you’re just starting focus on demo before thinking about money. You’ll be surprised how quick you can lose that money without trying out the forex market.
If by ‘site for investing’ you mean broker, look into Oanda’s demo account and Interbank FX. I use both and am quite satisfied with both. I’m sure other’s will provide names they’ve had experiences with also.
Listen to soul786’s advice.
The best advice I’ve heard is to get a demo account and stay with it until you can pull out a profit over a 2 month period with more winning trades than losing trades. Most people don’t have the patience for this, so at LEAST have a demo account for 1 full month so you can see how quickly you can lose/gain money and how you react to losing/gaining that money.
Yes, $5000 is enough to trade with, but be wise in how you approach beginning to invest. Half of trading is a battle against human nature. Just google “Forex Mistakes” and glean as much as you can from those results. Also, check out the “School of Pipsology” on this website. It is a great tool to help get you going.
I couldn’t agree more with soul786 and TradePlaye. I’m a newbie too and you should see how the market goes crazy when important news come out. You should definitely use demo account before putting real money.
I’m still with my demo
I agree with all the advice that’s been given to you so far, but if you need to put on some real money to make a serious commitment (some people feel that way) then open a real account with $50 or less with Oanda and put in practice a very strict money management.
If you blow it it’s not going to be a significant amount and you happen to get some first hand experience.
My two pips.