Active forex traders ?

justpaper

just to add to PS3home comment,.. I just heard a guy on babypips named James aka "james 40 to 100" system(every one knows him as James trading room)
Turned out he was just a newbie trading using someone elses system, and offering a service to teach people how to trade in is Chat room live with him, for £35 a month, i think the price went up, So called James ran this scam for a good 12months, he is not a pro trader at all,

So it just make sure your not being duped,

http://forums.babypips.com/free-forex-trading-systems/28776-where-james-40-100-a.html

justpaper

Update: still tradering, alot more people are instrested in this and alot more people getting burnt.

Some infomation on ECN Brokers,

will cost you over 5k to open the account,
ECN platforms are harder to understand,
you get charged a commisson fee to trade no a Speard pip price,
you can see the ASK / OFFER price, = transparency
you can only trade in 1 lot thats 100k - so your 1pip vaule is around £10 a pip
leverage is 1:50 or 1:100 not some crazy 1:200 or 1:500 - higher leverage faster you will lose your money or blow your account.
Charting is not available within the platform - you need to use another method - Traders use paid for software,

The last 3 years of tradering has been HARD*

* painfull - put still at it.

justpaper

like to keep this updated, atill got my eye on forex

below is a trading log of some of the trades i did in the last 6 months,

http://www.meetpips.com/members/Nickpips

ecn / stp brokers are offering to open accounts on lower mins deposits, due to the current investment banking issues,

jimjames

justpaper wrote: »

Update: still tradering, alot more people are instrested in this and alot more people getting burnt.

.

For everyone making money there has to be someone else losing it. I would guess the people getting burnt are those jumping in not understanding the risks. If someone can make money consistently then hats off to them but personally I haven't got the time or risk appetite for it.

Murray

Hello from a wannabe active forex trader...well I'm, just trying to work out if it is the thing for me really.

Does anyone know of, have experience of or opinions on Richard Hills' Newsnight Trading System? The online reviews seem to suggest that it is a fairly simple, well explained system for newbies to cut their teeth on but it's hard to know how impartial the reviews are!

Thanks
M 

oliversw

Instead of trading forex, I don't understand why people just don't trade oil I find it just as volatile at times...

justpaper

Murray wrote: »

Hello from a wannabe active forex trader...well I'm, just trying to work out if it is the thing for me really.

Does anyone know of, have experience of or opinions on Richard Hills' Newsnight Trading System? The online reviews seem to suggest that it is a fairly simple, well explained system for newbies to cut their teeth on but it's hard to know how impartial the reviews are!

Thanks
M 

that trading system is from a guy that was selling another system, all of it is just info on the net, put in a pdf to make some logic to a new trader, which is easy to do as a new trader wont know whats true and false, check out trade4win forum they post about these "sellers"

NEVER brought a trading system, learn at places like babypips, and other traders

oliversw wrote: »

Instead of trading forex, I don't understand why people just don't trade oil I find it just as volatile at times...

different markets, for different people

jimjames wrote: »

For everyone making money there has to be someone else losing it. I would guess the people getting burnt are those jumping in not understanding the risks. If someone can make money consistently then hats off to them but personally I haven't got the time or risk appetite for it.

in the different levels of "forex" you have more people losing money in the market maker/bucket shop forex level,

if you got the cash do what the big boys do, use other peoples money to support your margin call, and sit on a trade (with logic to the trade, not random trading) and cash in on long term trading, that way you dont need much time and you'll have less risk its a simple process that the big banks/traders use,

Lesley_Gaye

have you heard of Zulutrade or have an opinion on it?

have been reading everything I can find about it and haven't found anything too damning about it yet

it is an autotrader where you choose signal providers and they trade for you. have set up 3 demo accounts with different dummy deposits and diff variables and so far it is performing extremely well - although only 3 days so far. First account was $3000 and it is over $900 in profit

have also mirrored some of the trades in a demo 4XP account, which also performed very well

it feels like nirvana, but is there such a thing

any opinions?

adindas

I have read a lot of message. People are more likely to loose rather than win money in the Forex Trading. Especially who are doing day trading or swing.

justpaper wrote: »

just wondering if any are about ?

been tradering live since last xmas, its all going good, i think may people who dont understand forex and blow their account up, tend to voice their Hate for forex very strong, and put fear into others who could may well understand the system much better,.

I honestly think people are able to make mass profits, and the more money a trader has in the account the easyer it is to make fast profitable returns, when i say trader i mean someone who knows what their doing, please i not trying to promo forex tradering you really can lose money super fast.

The web has MANY MANY free ebooks/ sites all which are much better then a course, I would say paying for 1 on 1 lessons are very helpful but thats only if you can get a good teacher,. paying for a course is just crazy, i never did it,

Sorry to go on,... if any ones got any Q's - ill try my best to help, i am no way a expert trader

Ark_Welder

Lesley_Gaye wrote: »

have you heard of Zulutrade or have an opinion on it?

Do you really need to go offshore to trade forex? The company is not authorised by the FSA, so it is not regulated in the UK.

The company states that it is a member of the NFA: National Futures Association (NFA) is the industrywide, self-regulatory organization for the U.S. futures industry. and a search of its ID shows that its business address is in Greece. Details: http://www.nfa.futures.org/basicnet/Details.aspx?entityid=LgqPGA%2bhPTk%3d

Although 0203 is a new London area code, the calls can be redirected to anywhere in the world, so it should not be assumed that the company has a physical presence in London - or even in the UK.