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I am going to do micro accounts until I feel more comfortable I have learned more and have a better understanding of the forex world thanks keith
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That's good thinking Keith, a FXCM micro account is a pretty safe place to put your money.
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or is it that i am just on the wrong time frame i have tried both the 15 minute and the 5 minute. I have contemplated straddleing but also not quite sure how to set this up for a favorable result. thankyou Any help is really appreciated
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You need to be on a 1min chart, remember news trading is basically scalping but with a precise timing start point.
Straddling the price is risky and should really only be used in situations where you are unlikely to have a lot of 2 way volatility before the release, you would need to study the history of the event to see recent reactions before deciding. Add in the effects of slippage and your magnifying your risk considerably. The recent Australian interest rate change is a good example of how you could get caught out, a very whipsaw movement that could have opened both positions and closed both positions with a loss.
News trading takes practice, experience and normally some news trading software to be successful in the long term.
Hope this helps.
newbie -
03-03-2010, 01:23 AM
hello everyone looking foward to great advice from all. I currently have deposited money with fxcm but review say a little slow etc. i was wondering should i move the money to a different platform. I am going to do micro accounts until I feel more comfortable I have learned more and have a better understanding of the forex world thanks keith
funnelweb -
03-03-2010, 04:18 AM
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