Forex (margin, trading, investment, market)

[Texas User]

Anyone here into Forex?

What software do you use? I use Fxcm.

What do you use for graphs?

Any success?

[pghquest]

I've used fxcm, but only in demo mode to try to learn more about how it works..

I have always been successful at it until I failed.

I usually start out doing rather well but in the end, it all goes back. Thank god its only a demo..

[las vegas drunk]

Forex is a very dangerous investment. I consider it more like gambling. I put in $5,000 into Interbank Fx about 3 years ago. I bought a expert adviser for $500 which is a computer program that automatically trades the account. It got the account up around $13,000 within 3 months. I was so thrilled and I thought I was going to be able to live on it, and never have to work again. Well, it ended up margining the account overnight as I slept. I lost everything, including the original $5,000 of my own money. I have never made any investments after this.

[Texas User]

Originally Posted by las vegas drunk

Forex is a very dangerous investment. I consider it more like gambling. I put in $5,000 into Interbank Fx about 3 years ago. I bought a expert adviser for $500 which is a computer program that automatically trades the account. It got the account up around $13,000 within 3 months. I was so thrilled and I thought I was going to be able to live on it, and never have to work again. Well, it ended up margining the account overnight as I slept. I lost everything, including the original $5,000 of my own money. I have never made any investments after this.

Why would you go to sleep while going live? I would have stayed conservative if you had that much.

[NYCAnalyst]

Forex is very dangerous buddy. It's a zero-sum game, and you are competing against the top minds, models, and algorithms on Wall Street.

Caveat emptor...

[las vegas drunk]

Originally Posted by Texas User

Why would you go to sleep while going live? I would have stayed conservative if you had that much.

The way it traded, it had to be left on 24 hours a day. The program opened and closed trades by itself. The reason it margined out was because it was anti trend system, and a runaway trend happened on the EUR/JPY. The lot size I was using was also to high.

[AF830]

Originally Posted by NYCAnalyst

Forex is very dangerous buddy. It's a zero-sum game, and you are competing against the top minds, models, and algorithms on Wall Street.

Caveat emptor...

Forex is a $3.98 trillion market (daily).... you are not competing solely against the top minds, models, and algorithms on Wall St. There are plenty of investment opportunities out there.

Originally Posted by las vegas drunk

The way it traded, it had to be left on 24 hours a day. The program opened and closed trades by itself. The reason it margined out was because it was anti trend system, and a runaway trend happened on the EUR/JPY. The lot size I was using was also to high.

You have to learn trading discipline... you shouldn't have that much $$ at stake at any given time. When I was practicing in my demo account, I never put more than 2% at risk on any trade, so my maximum loss was 2%. You should make sure you have stop losses setup so you don't exceed a max loss like that. That hurts a lot.

That being said, FOREX is an extremely volatile market that can be for better or for worse.

[Texas User]

Learn the Candlesticks and other graphs. But I still think its risky. Just can't get a pattern even with big lots and leverage.