Quote:
Originally Posted by SeizeTheDomain
#1. Read: BabyPips.com
#2. Forex Broker: MigFX.ch
#3. Develop your own strategy on the demos, remember that the house is betting against you, and be prepared to lose money sometimes. The key is to accept that.
#4. IMHO, your a fish swimming among the sharks that cause the market to move in a certain direction. Do not go against the trend.
#5. Never trade in the first 45 minutes of market news coming out.
Good luck!
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I Do alright as well.
1. Good advice.
2. Find a broker that has no dealing desk. NDD / STP. I passed on MIG for that and other reasons.
3. See #2. I have a pattern based hedging strategy, but last years NSA "no hedging" rule forced me overseas... and now the Frank/Dodd financial reform shit has put an end to that account as well. I don't use Oanda because they didn't offer Metatrader.
"be prepared to lose money sometimes. The key is to accept that."
and
"Do not go against the trend."
Excellent advice here!