New to FX

technostocks · Feb 18, 2016

Hi all,
I am currently into Equities(past 2 years) & I want to trade FX. Can you help me where should I start from or should wait, learn & then start?

dianajs · Feb 21, 2016

Waiting, learning and then starting is always a good strategy, I think.

gerryg · Feb 24, 2016

technostocks said:
Hi all,
I am currently into Equities(past 2 years) & I want to trade FX. Can you help me where should I start from or should wait, learn & then start?

I think if you have good knowledge of equities you can move on FX right away. Currency market is a bit more volatile than stocks and larger leverage is offered, but rest is similar

You can start with learning currency correlations and technical stuff like breakouts, key levels, S/R etc. Open demo account with some offshore FX broker for example Нotforex or FXCM

Jason Rogers · Feb 24, 2016

Pnty said:
Can you guys recommend me some good FX brokers for GBP/AUD scalping? I need the average spread below 4 pips. I want to devide 25K USD between 5 brokers, so 5k each.

Hi Pnty,

While FXCM spreads are variable subject to market conditions and the time of day, the average GBP/AUD spread on our No Dealing Desk pricing is 2.0 pips. This is a time-weighted average derived from tradable prices at FXCM from 1 October 2015 to 31 December 2015.

Your forum profile mentions you live in Australia, so it may interest you to know FXCM is regulated by ASIC, offers AUD-denominated accounts, and has an office in Sydney.

Jason Rogers · Feb 24, 2016

technostocks said:
Hi all,
I am currently into Equities(past 2 years) & I want to trade FX. Can you help me where should I start from or should wait, learn & then start?

Welcome to the forum, Technostocks! As Gerryg has mentioned, a free demo account is a good place for you to start. :smart:

I've worked with many traders who have made the transition from equities to forex. Some of the biggest challenges they encounter involve using appropriate risk management, learning how to use leverage effectively, and knowing the best times of day to trade. These topics are covered in a series or reports by our DailyFX analysts called the Traits of Successful Traders.

mlawson71 · Feb 25, 2016

Start from the beginning, i.e. start by learning the basics and then open a demo account to practise what you've learned on it.

Pnty · Feb 29, 2016

mlawson71 said:
Start from the beginning, i.e. start by learning the basics and then open a demo account to practise what you've learned on it.

I would advise newbies just to start with a very simple strategy and then stick to it for some time to see how the results of the strategy change depending from the shights in the market sentiment and volatility.

One of the smartest traders in the world have actually very simple strategies.

mlawson71 · Mar 1, 2016

Pnty said:
I would advise newbies just to start with a very simple strategy and then stick to it for some time to see how the results of the strategy change depending from the shights in the market sentiment and volatility.

One of the smartest traders in the world have actually very simple strategies.

I agree. Complicated strategies ultimately just confuse a trader and they spend more time trying to figure out whether the market conditions fit them than actually trading and making money.

Hency Corniey · Mar 1, 2016

I like your strategy here abut learning a topic very. Carry on!

Wakeupsheep · Mar 12, 2016

technostocks said:
Hi all,
I am currently into Equities(past 2 years) & I want to trade FX. Can you help me where should I start from or should wait, learn & then start?

A word of warning, you have to trade forex with huge discipline or you'll lose your account pretty quick. 3 tips, only trade London or US times, learn to know when your wrong pretty quick and the no1 rule is protect your account.

GL

New to FX

technostocks

Newbie

dianajs

Established member

gerryg

Established member

Jason Rogers

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Jason Rogers

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mlawson71

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Pnty

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mlawson71

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Hency Corniey

Junior member

Wakeupsheep

Junior member

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