Trading (currency)

[Aesthetix29]

Hey! I'm just getting into trading online .. I'm only using virtual money at the moment until I get a grasp of how it all works etc ... But I've heard of some good success stories and people earning lots of money ... Does anyone here dabble with this? Cheers

 

[Bible_Belt]

Here's a ten year old thread about Forex, started by a troll that I eventually outed on the later pages of the thread:
http://www.sosuave.net/forum/index.php?threads/the-official-forex-thread.106341/

I've never traded Forex, but I could tell the guy was not a trader. You can read a lot of my comments about the Forex market on that thread. As far as I know, they are all still relevant. Compared to the stock market, Forex is an unregulated Wild West environment. Brokers are allowed to give you incorrect quotes, and allowed to back away from their quotes by not trading with you. You're also allowed huge leverage compared to stocks, which makes it easy to get wiped out.

Check out www.elitetrader.com - a lot of guys are trading the S&P "e-mini" futures contracts. You can have fun with a small account, plus you get the liquidity and regulation of a US market.

 

[SuckItUp]

My father was a Forex and options trader and I will tell you that it's not the milieu for for non-institutional investors unless you're dealing large sums of money. (I.e millions of dollars)

The next best choice would be derivatives in the stock market. Much lower barrier to entry in terms of cash and you mix and match between grinding out premiums and looking for big scores on buying calls.

If you really want to put it all out there then you can even go for naked options, but you'd better really know what you are doing because you can incur unlimited risk.