Anybody trade Currency on the Forex Exchange

I have been interested in trading currencies for about a year or so, so I started reading, taking online courses, studying, I can tell you, if you are displine and have a Bank Roll you can make some great money using Forex, i love it.  Ihope to be out of the mortgage business by january.

Intertested in others experience, still learning, and I want to learn more from somebody who has had some long term sucess in the Curriency markets  thanks

There are plenty of us. The currency market can trap you if on the wrong side of the trade, but buck and I and a few others are involved.

Wall Street, over the next 3 month what does your head and gut tell you about where the Euro will be with relation to the dollar?

Wall ST, thanks that is the insight I am looking for, I need to get the hell out of the mortgage business, and slowly learning this has become a passion

Wall do u have an app for ur phone?

I have a few different ones..forex.com actually has one but it doesn't let you do much with charts..have one called trade interceptor that's pretty good nice charts and I can set price alerts

Do you currently have an account going Ron?If not you should start a practice account..nothing beats actually trading

GL hope you make it work for ya

Wall u holdn EU shorts still?

Whats ur AU avg?

Low 1's, I started middle 90s and did not aggressively add, just a smaller position in general.

What kind of accounts do you people have? I have a mini and really like the action but unless there is a lot of cash in there, you're at the mercy of the wild market swings. I start wih $500 and go form there. Usually cashing out at $1500 - $2000 with $500 as the restarting point after the cashout. Yes I do go in the dumper but that's the way forex is. Interested in your strategies as far as starting money points and at what point do you cash out? I'm extreme short term day trader.

Tin youd be better off letting your account grow to protect from a margin call...myself i wouldnt start a mini with less than 2-3k..and expect around 5-10% returns weekly

I trade off crosses of ADX and DI lines also using RSI and slow stochastics...we have a ton of threads up over the last 2 yrs+...i dont like to speak for others but we r  short term traders too but we dont take  a loss..no stops only limit orders

Im in a trade ive held for over a year now only because it went against me and this has limited my trading..over the course of the last month and a half the trade has worked its way back up and im now almost +++$ on said trade..

I/we average or buy/sell more lots if the trade goes the other way to bring our avg price up/down..like you said above there can be some wild swings but if you have some exp with stocks or the financial markets in general this is easier to do...having a feel for what the other markets are doing or will do is a HUGE ADVANTAGE

Check out some of the older threads just to get an idea of what we r doing and ask any questions you have,im willing to help as is WSC...ill be around more now that i can see the light of day on my trade and im hoping to be seeking more trades in the very near future[next week hopefully]

GL and hope to see you in our threads

Thanks buck. I don't use stops either. When the trade goes against me, I usually reload to cover my ass and ride it out till it returns to positive although it doesn't always work out. Had a UK account until they took it away from me/us. Not being able to have both short and longs in multiple open trades (within the same pair) has really limited me. The inability to close any open trade in any order of my choosing has also limited my trading. They've taken the fun and profit out of forex trading. That being said, I will never trade anything but forex due to the quick action results. Any other instrument is just too slow for my liking.

Tin they have practice accounts try running one with 2-3k or whatever you think you can afford to start with and try trading starting with just a lot or two so you have room to add to your trade

Keep in mind how much margin youre using and have a plan for each trade,i had to average often and this kept me from starting a trade with to many lots but this is the best way to trade...dont add lots just because your down 20-30 pips id let them run at least 100 pips and after that its time to look for support/resis for the next add

Hello All,