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wanted info in fx options

Discussion in 'Beginners Bootcamp' started by glenn david, Mar 23, 2008.

  1. glenn david

    glenn david Recruit

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    Hi to all, I'm from the UK and my day to day job takes me away from the office. I am a complete newbie to fx and really looking to have a managed account dealing in currency options. I have been advised to buy 3 month options Dollar vs euro and US trading is more flexable than europian.
    I am not trading yet so can anyone get me a reliable Broker ?
    Thanks/ best regards
    Glenn. .
     
  2. rpaco

    rpaco Sergeant

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    Hi if you just send me half your money now and leave Forex completely alone I will most likely have saved you 45% of your capital. :) I will send my bank details by return so you can do CHAPS transfer. :):)

    Only 5% consistently make any money at forex trading. They are dedicated, clever and disciplined and have many years of knowledge behind them most of them have been professional traders for large companies. Some are just naturals, some learn after many years of losses some have runs of 6 good months then fail, some pay others to do it for them. Look at reviews of them.

    Managed accounts, you need to check the terms and conditions VERY carefully and then only deal with someone who you can trust. If you can find one.

    Fortunately in the UK we have the FSA, but the USA fx market seems to be completely unregulated and much like the wild west.

    Live Signal services can be good but you are handicapped in the UK because most of them work to US market times, also there are delays and different data levels which stop some being effective.

    Read all the reviews of brokers in the reviews section. Spend a few days just reading all the stuff on this site. Join some other free forums and read all their posts.

    Strongly suggest you go away and learn first.
    Read all of Baby pips, learn about news trading, learn about Elliot waves, learn about indicators. I'v been doing it for 4 years and I am crap
    :embarrassed:
     
  3. BrianS333

    BrianS333 Recruit

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    Signals vs Brokers

    Hi,

    I was reading this discussion and had a question that someone might answer. I understand that relying on a broker to make trades is risky, but what I don't understand is why people are so trusting of signals. After all, isn't going long or short based on a signal the same as puting your money in the hands of a stranger??
     

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