New Recruit reporting for duty SIR!

[Michael "Grimweird" Tan]

*Crawls out of "New Forex Trader Clone" test tube...* Hi.There. *Drips slime*

Well, I'm a shiny, newly minted wannabee trader interested in making money on my own terms and living life free from the shackles of evil corporate bondage!

I'm also a (very) recent (soon to be ex-) "Binary Options" trader. I think I've pretty much "seen the light" as to the folly of trying to predict currency movements within a 1-5 minute time frame. I also strongly suspect that my broker is a filthy, no-good scammer.

So, I've decided to give forex a shot. From my 1 month+ BO time, I think it's the most interesting, diverse and exciting option.

You guys seem to know what's the deal here, so I joined up 10 minutes ago and thought I'd stop by and say hello. Pay my respects as it were before I start getting busy with the boot-camp educational materials.

I've done a little homework and I think I'm gonna join "Hot Forex" seems they're doing a good job. I just hope I don't get scammed a second time.

Please feel free to say "Hi" back, it'll do wonders for my self-esteem Or ask me questions. Or tell me useful stuff. Or make fun of me. I'm determined to be a good humored, happy broker even though right now I can only afford a $5 micro account due to massive loses sustained by the plunging USD this morning T_T

Have a a great weekend SIR!


Tan, Michael "Grimweird"
Recruit
Forex Peace Army.

 

[Pharaoh]

You've come to the right place. You can take forex courses in many places for crazy amounts of money, or you can take an excellent one created by a professional bank trader for only $0.00 here:

Forex Military School | Complete Forex Education by a Pro Banker - Forex Peace Army Forum

 

[Joh]

Welcome 'grimweird' Michael-

I dito Pharaoh - had a similar view as you, then when failing....hm blew my account... got to read and am still reading Sive's material - wow wish i had done that earlier.

So before you start spending your money i would have a good look at the free/gratis, no strings attached teachings, here on FPA - experiment/practise with it all on demo and read/learn here from other successful traders who graciously for free pass on what they have learned and may be ore important what to stay away from.

Wishing you every success.

 

[Michael "Grimweird" Tan]

Roger that.

I guess being unemployed with my empty bank account, free education is pretty much what I need right now. Next to food, shelter and money of course LOL

Seriously though, since I was err... downsized... Things have gone from bad to worse, so I really need a break and I need it yesterday. Any help whatsoever as to how I can speed this process along would be much appreciated. I may not need to eat too often, but my little baby girl does. And while I'm still looking around for whatever job I can find, options are running out real fast.

Nonetheless, thanks for the welcome fellas. Hope you guys have less problems and more luck than I do.

See you around
Mike.

 

[Pharaoh]

Trying to go from unemployed to making a living trading forex (with $5 as your initial deposit) would make a great Hollywood movie, but is a little unrealistic. You don't want to make trades with "If this makes profit, I eat today. If not, I don't." as the main thought in your mind.

My best suggestion - find something, even a completely lame part time job. This keeps you from starving while you study forex.

 

[Michael "Grimweird" Tan]

I hear you man. I've given up on fairy tale endings a LONG time ago. As I mentioned I'm looking for whatever crap job I can find. Looks like I'm gonna be a "sanitation technician" for a while

At least I'll make enough to scrape by, barely.

My goal in forex in the short term is; I think the term you guys use is "scalping". I intend to make very small, controlled trades at specific times to make small profits. Over here USD100 can feed a man for a month. I think, until I can get some sort of real cash is my bank again, I'll have to do that.

In the near term though, I'm not gonna risk anything until I've at least gained a fundamental understanding of forex and how it works. So I'll jyst have to read up whatever I can find.

Thanks for your advice man. Really appreciate it.

May your best trades of your yesterdays be your worst trades of your tomorrows
Mike

 

[Pharaoh]

If you want to scalp, that puts 2 obstacles in your way.

1. Demo feeds tend to be MUCH more scalper friendly than live feeds. A scalp strategy that successfully gets an average of 2 pips per trade profit on demo might be a breakeven or even losing strategy on a live account.

2. You'll need a broker that permits scalping. Not just in general, but for the account type you chose. Make CERTAIN to check the TOS and to email questions about this BEFORE funding the account.

And, a couple more items for you:

1. No matter how generous it looks, decline any bonus. There are always strings attached to a bonus. You may find yourself unable to withdraw any profits (or even your initial balance) for a very long time. Plus, if you have the misfortune to ever have an IP overlap with another forex trader, you could find yourself falsely accused of "bonus hunting" and see your hard-earned profits evaporate.

2. Before funding any account with any broker, get all of your ID documents approved. Brokers are happy to have you start trading today and worry about ID later, but this can be a recipe for losing all your money if they decide those docs you submit later aren't quite right.

 

[Michael "Grimweird" Tan]

Again, many thanks for being so helpful. Folks here seem far more willing to give advice than many other forums I lurk at where the people just seem to heckle, ridicule and even intentionally sabotage newbies.

1. That's called "slippage" right?

2. If I'm not mistaken Hot Forex allows this IIRC.

3. Yes, I've already noticed this highlighted on many of the Scam advisories on this and other sites.

4. Again, this issue has always been a stumbling block I've come across on many cautionary tales. Especially for US residents.

Well, I'll cross these bridges when I get to them I reckon. Right now, I'm still gathering info on Forex. Looking at the volume of information, I'm guessing it's gonna take quite some time unfortunately. Luckily with a tiny bit of experience trading the super-treacherous "Binary Options" horror, I think I can easier understand at least some of the concepts.

Have a good one today man (although the market still looks kinda flat to me)

 

[LoRio]

Roger that.

I guess being unemployed with my empty bank account, free education is pretty much what I need right now. Next to food, shelter and money of course LOL

Seriously though, since I was err... downsized... Things have gone from bad to worse, so I really need a break and I need it yesterday. Any help whatsoever as to how I can speed this process along would be much appreciated. I may not need to eat too often, but my little baby girl does. And while I'm still looking around for whatever job I can find, options are running out real fast.

Nonetheless, thanks for the welcome fellas. Hope you guys have less problems and more luck than I do.

See you around
Mike.

You sound Greek recruit

 

[LoRio]

With the moderators permission , each of us could post here , resources and material that could help Mike evolve to a forex "sergeant" at a more rapid pace.