Hi everyone, I want to make some money with online forex trading. The greatest problem i have is to choose a good piece of software and a reliable broker. Does anyone here have any experience with forex trading? And what are the best pieces of software and what are the moste reliable brokers on the net? I really hope there are people here which heve some experience because when i search on google there are to many sites to chosse from and i heard that not everybody is reliable. So please, can anybody help me? Thanks

Reply

Hello there, I think I am your guy I posted a topic on making money by trading forex here's the link: http://www.trap17.com/forums/no-spam-no-ad...ney-t36865.html

If you searched a little bit I guess you would have found it anyway in this topic the site is listed, then go there to that site and download the software. It is a training and when you'll understand the concept then you could find out there how to start trading. But be aware I know people who losted everything they have in this buisness, so my advice to you is never buy stocks in a large number or at a high price, but always buy at low cost and sell at a high cost. This buisness must be monitered each and every 3 hours,in case if happened a problem or the lost of a company. I wouldn't suggest taking this way in earning money, because of problems and dangers that may happen. Also I don't recommand this to someone who is below 25years or to someone who doesn't have any experience.

Reply

Hi Hadi,

First of all thanks for your reply, i will check your link you gave and have a look to that software.

I know what the risks are with forex trading, i would never put money in it that i need for something else, just the extras. I studied Financial Economics at the Erasmus University in Rotterdam and i also have a master in financial law so i already know a lot about forex trading. And you are right that it is a really risky way to earn money.

I really appreciate your post for the extra info you posted.

Thanks

Reply

people don't have to lose all their money if they take advantage of establishing a selling price if the stock goes down a certain percentage. you can also set a selling price of the stock goes up and reaches a certain price. also, you can hedge your investment by selling short to minimize losses.


my best advice for anyone investing in the market wether it's stocks or options, that they do their reserch. don't put all your pennies in one basket. spread it out between 7-8 investments if they are considered high risk. it doesn't hurt to invest in fairly conservative stock as well for long term like disney or american express, etc....which offer dividends quarterly and can see the stock split once ever 5-6 years or so.

research is KEY in high risk investments. if you don't plan to do your own, you need a brokerage firm that has a research dept. but then you will be paying higher commission. i like to do my own research because alot of conservitive brokers will highly persuade you from the risky investments. at the same time, i like those brokers because those are the trustworthy ones not just out to make a commision but looking out for the best interest of the client/investor. i guess it's all give and take and pros and cons to everything.

 

 

 

Reply

Sorry Estupido, can't help you on this one, it is out of my lead, if you know what i mean.

But if i get some good info on this, i'll contact you.
Need your email adress in case.

Reply

This might be fun and maybe a good little investment if done properly. Thanks

Reply

Hi there, first of all thank you for all your replies and advice. I made my choice now about which forex site i will use. I will start just with 1500 dollars and will look how it will be going. If everything goes well and if they will pay my winnings i want to use an automated trading system.

Does anyone here already used an auomated trading system? I know such a system will cost me a lot of dollars and i am looking for one between 500 and 1000 dollars. The reason that i am looking for an automated trading system is that i do not have the time to be at my computer everyday.

So if anyone have experience with automated trading systems just let me know.

Thanks

Reply

Hi
as for me I prefer to trade with icforex.com on the Metatrader4 platform
you can see the charts and the currency pairs one time you allso see your terminal data
and yu have access to the finencial news
try yourself http://www.icforex.com/open_account/demo_account/
start with demoaccount and if you will not like it you can chage the platform and the broker)
happy trading

Reply