Best retail online forex brokers ??????

[spunky]

I started trading currencies online with a demo account. Anyone got any good , bad experiences, problems with a broker they have tried ????

[spunky]

Well, I have started with Forex.com and DailyFx. I also bought the book " Getting started in Currency trading " Archer and Bickford. Good book for beginners.



Down 900$ so far in my account, going short the dollar aganist the swissy, really cost me this week

[jk]

some at bill fleckenstein's website recommended oanda.com for forex

[Jim Nickerson]

Well, I have started with Forex.com and DailyFx. I also bought the book " Getting started in Currency trading " Archer and Bickford. Good book for beginners.



Down 900$ so far in my account, going short the dollar aganist the swissy, really cost me this week

Spunky,

I would not suggest to you that I know my ass from a hole in the ground, and with that caveat, I suggest you might follow http://www.buythebottom.com/cot_charts/usd.html

That is a chart of the commitment of traders data from the website
http://www.buythebottom.com/cot_charts/

James West, who also I do not know whether he knows his ass from a hole in the ground, is the guy who puts up these charts. You can note on the last URL there is a Blog link, which he has not been updating weekly; however, on the right side of the Blog page are instructions of how to get on West's emailing list. He has been putting some comments in his note to subscribers that he sends to tell them when he has at least updated the charts.

The US Dollar decline continues, as commercial buying accelerates. Net-commercial position now stands at 21,977 contracts, a multi decade high reading. The USD index is overextended to the downside, and the coming rally is more a question of when rather than if - at least from the COT chart... A break + hold above 82.5 would probably confirm a change in trend for this market.


I have no idea what traders look at when it comes to placing bets on which way the dollar is going. Personally I find West's charts and comments to be of some benefit. Perhaps it will offer another perspective for your consideration.

Sometimes each weekend, usually by Sunday, he updates at least the one-year charts.

[spunky]

Thanks men

[spunky]

Just some random thoughts here.


Down 2,700$ on my demo account. Struggling more with using the software than, basic concepts of currencies.

Technical anaylsis hurts my head

" Getting Started in currency trading " Archer, Bickford, good basic book, but the same info can be found online for free.


Forex.com gives respectable customer support.

Start an online course today; see how it goes.


you can check out babypips and dailyfx for alot of free good info

The experiment continues:cool:

[spunky]

Been busy , alot to read and study about currencies. I am seeing moving averages in my dreams, Just some more thoughts

Kinda pissed at my forex.com account :mad:. I tried doing a carry trade with the kiwi/yen , and didnt get a rollover. not only dont they give rollover for saturday,sunday but they use a formula to convert the simple intrest to a pip; then requote your currrency trade in a different pip amount than your orginal carry. The customer service rep couldnt quote me the formula :eek:

FXCM gives simple intrest , and has its own viewable calculator for this, very nice. Long carry trades are good:cool:


FXCM has a 20$ power course online that gives you some basic stuff , and has some peeps to answer questions. Good basic info but first open a demo account so you are familiar with their software and site.

Longed the dollar aganist the loonie this week, good that I put in a stop loss in that dumbass move, can anything stop the loonie now ???

[Longfellow]

Well..., the reality of forex trading is emerging, and the truth will surprise many. Know this, (as quoted from the National Futures Association):

"Unlike regulated futures exchanges, in the retail off-exchange forex market there is no central marketplace. The forex dealer determines the execution price, so you are relying on the dealer to give you a fair price."

See: NFA LINK (http://www.nfa.futures.org/forex_training/content/Module6-4.htm)

A non-commercial forum, describing real experiences from real forex traders,
can be found at www.nondealingdesk.com (http://www.nondealingdesk.com)

The founder's blog is found at www.nondealingdesk.blogspot.com/ (http://www.nondealingdesk.blogspot.com/)

CFTC and NASAA warn that (quote): http://nondealingdesk.com/images/smilies/frown.gif
"off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud."

If in spite of all of that, one is still tempted to trade off-exchange spot forex...., well.... have fun!

[spunky]

I am , still in the game and learning.

[renyxzar]

I started trading currencies online with a demo account. Anyone got any good , bad experiences, problems with a broker they have tried ????

No problems with forex-metal.com
I use them since over 6 months.