Anyone trade FX markets? [Archive] - Glock Talk

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lomfs24
02-04-2006, 06:29
I am just learning about the forex markets. And I was wondering if anyone here trades those markets? I was hoping to find someone who trades sucessfully and get real life tips and tricks.

I have gotten a couple books and have done a ton of research on the net. Some of it seems to work, some of it doesn't. I am also looking for sites on the web that have, I guess you'd call them, financial calandars. Places that list dates and times that important financial news will be released.

I was doing fairly well with my demo account until that last couple of days. My demo is just about to expire so I was going for broke and try to make it big. And it didn't work. I placed trades that were really risky that I would have never done with my own money. But it was fun to see how much risk there actually could be in 'worse comes to worst' situation.

Dandapani
02-04-2006, 06:58
Originally posted by lomfs24
My demo is just about to expire so I was going for broke and try to make it big. And it didn't work.

Old trading adage: Bulls make money, Bears make money, Pigs get slaughtered.

lomfs24
02-04-2006, 07:05
Originally posted by dmobrien2001
Old trading adage: Bulls make money, Bears make money, Pigs get slaughtered.

Touché ;f

lomfs24
02-07-2006, 12:34
Guess no one does.

;d

geminicricket
02-07-2006, 20:25
I did not trade forex, I traded eminis, and did lose the grubstake.
My account is unfunded at this time, but apparently not closed.

When Refco cratered, Man bought all their retail accounts. I got an email from Man telling me that my login and password would be the same on the Man site as it had been on the Refco site.

If you haven't heard of ino.com, do so now. www.ino.com.
I have not used the service, and it is not limited to forex.
The advertised feature of the service is that you don't need to be an expert in the trade to be a successful participant. If there's a signal in forex, you get the signal. If there's a signal in corn, you get the signal, etc.

When you fund an account, you become known to all within the industry, and become a target of offers for stuff such as subscription trade hints, expensive stuff, etc. When evaluating a subscription trade hint service, demand to see their record of trades.
Some are legit, some aren't. Caveat emptor.

When I began my activity, I told my broker that if I lost everything, I wanted a "Thank You" card. That's exactly what I got when I removed the last few dollars from the account. They may be sharks, but they have a sense of humor.

lomfs24
02-07-2006, 22:21
Thanks geminicricket, I will check it out. Is it a system that you have to pay for? I checked out VantagePoint software and their trading system. If I got just a few charts in their system it would have cost me $4000 and change, and there still is no guarantee. No doubt it is a good system but $4000 would go a long way to funding my mini account in forex. And with a mini it would take a long time to recoup $4000 so I couldn't really justify it right now.

I will check it out though.

geminicricket
02-08-2006, 20:43
http://www.tradingeducation.com/

That one claims to be free. I haven't used it.


http://www.johnmauldin.com/

That guy sends 2 free letters each week to anyone who subscribes.
He got rich in the electronics industry and decided to switch careers. His office is at the baseball stadium where the Texas Rangers play. Anyway, he writes some really interesting letters and frequently cuts and pastes from letters to which he subscribes which let us get a peek at what the really expensive advisers are thinking. It's free, but it's worth the time you spend reading it.

lomfs24
02-08-2006, 21:35
Thanks again geminicricket. I have also found a Yahoo group that sends out email daily with links to their website with the updated info for the day. http://www.mataf.net/en/ However, I have found the best method of trading with their info is to do exactly the opposite of what they say. If they say sell short you buy long with the same stops and it works out beautifully. But if I followed their advise I would have lost quickly and been in the poor house. While I take all advise into consideration, I remember that in the forex trading, every winner is paired with a loser. And I take that into account when reading free advise on the market.

--edit-- I don't mean to be down on free advise. What I meant by that is rather than have someone tell me, for free, what to buy and what to sell I would rather have someone give me a trading system that I could paper trade to see if it works or not. I would rather make my own bad decisions than take someone elses bad decisions. If you know what I mean.