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Foreign Exchange

 
Ranch Hand
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Could someone specify a good website to learn Forex at free of Cost...Since i can't pay huge amount.
 
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what do you mean by ' learn Forex'?
 
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You mean learn about FX trading? So you are asking how to learn about trading in different currencies on a foreign exchange marketplace?
Wiki is a good start: http://en.wikipedia.org/wiki/Foreign_exchange_market
 
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How about starting from the most obvious place of all? http://www.forex.com
 
Arun raghvan
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Teja Saab wrote:How about starting from the most obvious place of all? http://www.forex.com



They cost too much..

and Thank you .
 
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buy low...sell high.

that's all you need to know.
 
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Arun raghvan wrote:

Teja Saab wrote:How about starting from the most obvious place of all? http://www.forex.com



They cost too much..


The video tutorials are for free.

[edit]
I just saw that they are also offering a free account for practicing.
 
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Arun raghvan wrote:Could someone specify a good website to learn Forex at free of Cost...Since i can't pay huge amount.


Then you should run away from trading Forex. Its easy to lose a lot of money in Forex trades. And it can happen in an eye blink.

When done by a multi-national manufacturing firm, say BMW who needs a hedge against changes in the Dollar to Euro rate, its conservative. When done by traders, its simply gambling with very high limits.
 
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I strongly advise against speculating in currencies. The currency markets are the most competitive in the world. You will be competing against firms in NYC, London, Singapore, Hong Kong, Frankfurt and every other financial center in the world. The firms employ teams of analysts that work around the clock. They not only have better access to better information but also can crunch the data.

Almost all independent traders who speculate in currencies get killed. That said, you asked for an online how-to tutorial. Here's the best one: just don't do it.
 
Pat Farrell
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Joe Borderi wrote:They not only have better access to better information but also can crunch the data.


Another thing that @Joe left out, the pros have huge bandwidth connections to the trading systems. Usually with incredibly low latency, they will setup their data centers in the same building or across the street from the exchanges. Some of the deals only last for a portion of a second, so they need to jump on them in the microseconds that the spread exists. You can't get the data to your computer fast enough to see the deals.
 
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Arun raghvan wrote:
They cost too much..



If you can't afford it, what are you going to trade with? Because of the cost of doing business (both the infrastructure Pat refers to and the price of each transaction), you need huge sums of cash to throw around in order to make a profit.
 
Arun raghvan
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To learn... you have invest min cost...earn ...max the Amount ...this what i follow.
 
Pat Farrell
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Arun raghvan wrote:To learn... you have invest min cost...earn ...max the Amount ...


Do you mean:

Buy low, when it goes up, sell high.
If it does not go up, don't buy?

The first part is easy.
 
Arun raghvan
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Pat Farrell wrote:

Arun raghvan wrote:To learn... you have invest min cost...earn ...max the Amount ...


Do you mean:

Buy low, when it goes up, sell high.
If it does not go up, don't buy?

The first part is easy.



General Meaning..
 
Pat Farrell
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Arun raghvan wrote:General Meaning..


Sorry, but your answer is meaningless.

I asked a simple question, do you mean (1) or (2)
The only acceptable answers are either 1 or 2
 
Arun raghvan
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Pat Farrell wrote:

Arun raghvan wrote:General Meaning..


Sorry, but your answer is meaningless.

I asked a simple question, do you mean (1) or (2)
The only acceptable answers are either 1 or 2



i'm sorry ...your not understanding ... When you learn things ...i invest MINIMUM amount ...and the same time ...When i use what i've learnt in my job .... i earn MAX> what i've spent ....but as i came to know ...this is not going to work with FOREX.
 
Peter Rooke
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Yes, its my understanding that the major players in this market have vast resources. They invest large sums of money, and its this amount of money that means they take profits from small movements in the markets. Add to this the fact that their books never close as they trade twenty four hours a day - they pass them over to other offices around the world. Some of these trades are also used as the basis of derivative trades...

 
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Forex trading is little risky..Most of the forex brokerages offer a maximum leverage of around 400-500 times the capital you invest in a trade..What this essentially means is if you have a trading capital of 1000$ you can take positions worth 500,000$

One standard lot is of value 100k $.Now the leverage is like a double edged sword.Imagine you buy EUR/USD standard lot with an initial capital of $1000.Now you would double the money if the currency value moves by 1%,but you will also loose your entire money if your trade moves against you just by 1%..Now if you are a brave heart and go for a 1:400 leverage you will loose all your money with just a .25% move against you..this is roughly just 25 pips..

So unless you have lot of money you shouldn't trade in forex..If you still want to trade trade with some demo accounts to get a feel..
 
Rambo Prasad
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Sign up for a demo account with Alpari,ACM etc...Most of them offer free demo accounts..

But remember trading in a live account will be different from trading in a demo account..It is also difficult to find a honest brokerage firm..Lot of them are unscrupulous elements..They will have a variable spread to suit them,slippage will happen frequently and they will manipulate the market..Their hidden algorithms will ensure that your stop loss is taken away by sharp price spikes..

If you are too keen open an account with icici direct or hdfc securities.You can trade in USD/INR.I am not sure about other currency pairs.



 
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Rambo Prasad wrote:..It is also difficult to find a honest brokerage firm..Lot of them are unscrupulous elements..



If you cannot beat them then join them.
Start your own unscrupulous brokerage firm. Think of this as multi level marketing and pyramid structure and what not.
Remember, no pains, no gains.
 
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Hey, I play the forex market. I have a ton of Canadian Dollars, Pounds, Euros, Yens, and even a bunch of useless stuff like Deutsche Marks, French Francs, Greek Drachmas, etc. etc.

Its actually a bit hard to do, as I have to actually travel to the countries to do it. And it has secondary costs too, as my wife like to spend what gets converted locally.

As for profitability, it is not very good... but it is fun to do.

Henry
 
Arun raghvan
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Henry Wong wrote:
Hey, I play the forex market. I have a ton of Canadian Dollars, Pounds, Euros, Yens, and even a bunch of useless stuff like Deutsche Marks, French Francs, Greek Drachmas, etc. etc.

Its actually a bit hard to do, as I have to actually travel to the countries to do it. And it has secondary costs too, as my wife like to spend what gets converted locally.


Henry



That's great!


As for profitability, it is not very good... but it is fun to do.



why do say?...Many of my old colleague have got lot of Money through that... And where do we find Forex Broker!
 
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As Henry Wong said it's not very good , but it's fun - i accept it .


why do say?...Many of my old colleague have got lot of Money through that... And where do we find Forex Broker!



Hello! sir

For that you need to spend lot hours studying the patterns of signals ,and basically it's hard to figure it out,that's why it's too hard.

may be this site could help you for learning www.fxclub.com and start with Express version platform it's helpful ,sir.
 
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