Whats best for a beginner ?

I reckon indices personally. Too many competing factors affect the price in FX. Harder to gain a grasp of what's really going on.

Just my $0.02

GJ
 
 
Indices as if you get it wrong it's more forgiving so long as you're not doing wall st/asian indices.
 
Forums - AHG - Profitable Strategy for Struggling Traders
i never really 'got' trends until i went through this diamond of a thread, plus james16's thread if you want to get in the know with his shizz.

The financial sbing handbook is meant to be good and im getting soon so i understand spreadbetting terms cos im a sbing newb lulz


i too am new and on demo :)
 
I have a demo on ETX Capital but I wanted to start trading in Forex demo account but got advised I should start with indices first ... ?
 
Masquerade said:
Indices as if you get it wrong it's more forgiving so long as you're not doing wall st/asian indices.
Click to expand...
Quite the opposite really, considering that with forex you can manage your leverage much more precisely. With the advent of brokers like Oanda and Alpari who allow you to trade any size you want.
 
GammaJammer said:
I reckon indices personally. Too many competing factors affect the price in FX. Harder to gain a grasp of what's really going on.

Just my $0.02

GJ
Click to expand...
I agree with you, BUT 99% of 'traders' don't take into account any of the factors that move the market anyway. So assuming that our thread starter is going to be trading pure TA it doesn't make a whole lot of difference.
 
virtuos0 said:
I agree with you, BUT 99% of 'traders' don't take into account any of the factors that move the market anyway. So assuming that our thread starter is going to be trading pure TA it doesn't make a whole lot of difference.
Click to expand...



V,

Not forgetting places like forex factory putting out an indicator system every second, and all this for $0.10 a pip, it's a fairground attraction.


"... Roll up, roll up! toss your dimes into the bucket and see what you can win..."


Online gaming and gambling wouldn't be the same without the FX markets, but don't take my word for it....ask George Soros.
 
virtuos0 said:
Quite the opposite really, considering that with forex you can manage your leverage much more precisely. With the advent of brokers like Oanda and Alpari who allow you to trade any size you want.
Click to expand...

Well i'm just thinking in terms of point movements - if you get it wrong in ftse you're not likely to end up 300 points offside whereas if you trade cable it's highly plausible if you're not using stops for whatever reason. Alpari don't really let you choose your size, you're somewhat restricted in the size you can trade and the increments you can increase it by. Oanda is the best for this as it allows total flexibility.
 
Masquerade said:
Well i'm just thinking in terms of point movements - if you get it wrong in ftse you're not likely to end up 300 points offside whereas if you trade cable it's highly plausible if you're not using stops for whatever reason. Alpari don't really let you choose your size, you're somewhat restricted in the size you can trade and the increments you can increase it by. Oanda is the best for this as it allows total flexibility.
Click to expand...
But a trader should be taking into account the volatility of his instrument in order to calculate his trade leverage. If Forex happens to have a higher frequency of 'mad ass swings' then again this is something that should be taken account of within your risk management. So in my opinion pip movement range is irrelevant.

I have never used Alpari, thanks for correcting me on that. I still use Oanda now despite mainly trading with IB, and yes they are a godsend in many ways.
 
virtuos0 said:
I have never used Alpari, thanks for correcting me on that. I still use Oanda now despite mainly trading with IB, and yes they are a godsend in many ways.
Click to expand...

Well Alpari enables you to increase your size by in increments of 0.01 lots. So at larger sizes it makes no difference. But if you want to start at the bottom & trade 0.01 lot (~6p/pip on cable, eur/usd) and then want to start increasing size you're forced to go to 0.02 lot now doubling your size. Whereas Oanda as you know enables complete flexibility and you can change your size by the penny and more importantly you can set it to calculate the size for you. IG enables position size to be increased by the penny (although the minimum stake is 50p so not great if you want to start small)
 
yea ok thanks everyone I was initially going to start trading forex on demo account with stops of course, where would be the best sit for forex ? IG ? forex.com ? ...

Is forexfactory a good place to gain knowledge and learn strategies and develop your own?

Also I plan on ordering the books i mentioned in post 3 r they good for a beginner like me ?

Im still a newbie at trading and still reading on babypips

WeiJie
 
GO to Oanda. They have a demo account called FXGame. You can trade forex on that for a while. I personally think Forex is more technical, but others might disagree.
 
Thanks for the advise guys, What do you think about the books ???

I think I'm gunna carry on with trading indices on ETX demo and I will trade a bit of Forex on Oanda too to see which If I prefer indices or Forex and carry on reading babypips !
 
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