Option trader that has seen the light and looking for wisdom

Beginner Questions
1

I’m new to 4x but i believe i’ve seen the light! i’m very familiar with tech analysis and market sentiment as i know where to get information. with 4x it’s a whole new world, i got so many questions. ei; best place for news on
4x, is volume analysis or is it even a factor, further info on 4x (this website is great but there"s gotta be more education out there), is averaging down a concept that could be applied to 4x.

i got so many freakin questions and looking for someone who knows much more than i do to give me some guidance.

thanks in advance for your help

jt

2

  1. Best place for news? I wouldn’t recommend trading news as the slippage is HUGE and brokers find a hard time not screwing most of their customers over during these times. But if you want a list of news reports being released in different countries (similar to FOMC events, etc.) check out dailyfx.com.

  2. You can use volume analysis if you trade the 4x Futures contracts. If you trade spot forex, its an unregulated market and 99% of the time your broker is taking the opposite side of your position, and they won’t quote volume. If you use volume a large indicator for your setups, stay out of spot forex and focus on the futures contracts.

  3. This site is pretty darn good (the best i’ve found in fact) for giving a broad overview of trading techniques and analysis. If you want more I would recommend going to google video and searching “forex” and watching some videos, checking out the video producers web sites, etc… There is A LOT of good info out there in the forms of video.

  4. Yea, people can average down in forex, I don’t think many people do simply because a lot of the forex traders trade small size and enter their positions all at once. Unlike the common practice of averaging down in options strategies, it is just less common place here (probably more than it should be). That being said I think it also has a lot to do with the strategies people trade and the timeframe. Coming from options you probably worked your way into positions over a period of days or weeks. Would you be doing the same thing over a period of say 2 minutes? 20 minutes? Yea you can, I know I do sometimes, but it just really all depends on what kind of system you are trading and how you want to manage your entries.

Cheers!

3

SMbff-Same goes for me.I would love for some one to explain the ends and out of 4x.someone with much more experience then I.Just wanted to restate what was said.