Forex???

[Paul Wilson]

Hey everyone.

Before I start, I must stress that I know absolutley nothing about this market.

I have spent a long, long time trying to suss out stocks. I'm at the point now where I think I know what I am doing. During this time I have never given FX a second glance.

I know what the market is, but that is where my knowledge ends.

I am here for some information if you please.

I don't really have any specific questions at the moment. But if anyone can usher me in the right direction. Any links to beginners resources? That kinda thing?


I was also just reading a brokers web page a minute ago. It mentioned you can gear the trades up to 50:1. Does anyone actually trade geared that high?

That seems like a recipe for disaster for someone that doesn't know what they are doing!?!


Cheers - Paul

 

[Rhody Trader]

I don't really have any specific questions at the moment. But if anyone can usher me in the right direction. Any links to beginners resources? That kinda thing?

BabyPips is a great resourse for the new forex trader.

I was also just reading a brokers web page a minute ago. It mentioned you can gear the trades up to 50:1. Does anyone actually trade geared that high?

That seems like a recipe for disaster for someone that doesn't know what they are doing!?!

There are actually brokers who offer up to 400:1 in forex, but 100:1 is probably the most common. And yes, people do gear up that large - for better or worse. Most position traders, though, don't go much beyond an effective 10:1 leverage.

 

[Paul Wilson]

Hey Rhody.

Thanks for the link. This is just the kind of thing I was looking for. I'm going to have a good read of it now.

BTW I did just check out a broker who geared up to 700:1!?! Madness!

Thank for the reply!

 

[Lord Flasheart]

gearing of 100 times is not what it seems, its best to look athow much a pip is worth(per lot) and base your sums on that. If gearing was only say 10-1 none of us would be able to afford to trade. www.forexfactory.com is good for resources