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Newcomer to Forex Bastards

Discussion in 'Beginners Bootcamp' started by iceberg, Dec 27, 2007.

  1. iceberg

    iceberg Recruit

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    Just found your site, it seem great to find someone else to talk about Forex with.

    I have tried several software packages to learn which ones I liked and looked the best. I joined up with FXDD and proceeded to loose about $20,000 over a two year period.

    Now that I am broke I am still trying to find a consistently good signal giver and at the same time allows me to get in and out without the 10-15 second delay that make sure I loose my position that some dealers have.

    I traded Futures for several years and got stuck when a market went quickly against me, loosing money like crazy and was unable to get out.

    A friend of mine got sold on Forex with 4xmadeasy and after $40,000 lost interest in Forex trading.

    I have found a software package I liked, Metaquotes software, from MIGfx.ch, the package seem to do what I like it to do without any customer rep interfering.

    They display Charts a great way. Do any of you have a year under the belt with a broker with reasonable pip spread and a good software package that you can reccomend?

    Iceberg
     
    #1 iceberg, Dec 27, 2007
    Last edited: Dec 27, 2007
  2. Pharaoh

    Pharaoh Colonel

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    I have some good news and some bad news.

    The good news is that MetaTrader is probably the most commonly used platform out there among FX brokers.

    The bad news is that most brokers are trading against you and can manipulate data to make you lose.

    A lot of broker selection comes down to what you want in a broker. Do you want a US based brokerage? Microlot capability? Other features?

    There isn't a single broker that is perfect for everyone. A lot depends on your personal trading style.

    Read the reviews, but try to filter out the ones that boil down to "I lost/made money on my first 2 trades, so I rate this broker a Scam/5 Stars."
     

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