JumpOff
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Hi,
I am in the beginning stages of learning about trading in general, and FOREX in particular. I'll be starting with about 5K, and my expectations are to make tiny gains and even smaller losses scalping the EUR/USD or the USD/JPY. At the suggestion of several forum members, I plan to sign up with a regulated broker so that I can trade Globex currency futures, etc.. with direct access, lower commissions and 1 pip spreads.
My goal is to be up 2-10 pips on a good day, and down no more than 5 pips on a bad one. I'm not looking at this as an income plan at this point, just a way to learn a lot about entry and exit points, and getting real comfortable with a trading platform.
Since I have less than the required account size to trade individual stocks (U.S. day trading limits for small traders), I'm wondering what other markets will be good exercise yards for practicing my skills. I see that the currency markets sometimes move in beautiful trends, sometimes they just lay there becalmed. What do you all do when things are quiet?
Thanks,
JO
I am in the beginning stages of learning about trading in general, and FOREX in particular. I'll be starting with about 5K, and my expectations are to make tiny gains and even smaller losses scalping the EUR/USD or the USD/JPY. At the suggestion of several forum members, I plan to sign up with a regulated broker so that I can trade Globex currency futures, etc.. with direct access, lower commissions and 1 pip spreads.
My goal is to be up 2-10 pips on a good day, and down no more than 5 pips on a bad one. I'm not looking at this as an income plan at this point, just a way to learn a lot about entry and exit points, and getting real comfortable with a trading platform.
Since I have less than the required account size to trade individual stocks (U.S. day trading limits for small traders), I'm wondering what other markets will be good exercise yards for practicing my skills. I see that the currency markets sometimes move in beautiful trends, sometimes they just lay there becalmed. What do you all do when things are quiet?
Thanks,
JO