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Forex Trading. Does anyone here do it? Opinions? Comments?

 
 
stuh505
 
  1  
Reply Wed 23 May, 2007 12:50 pm
Quote:
If you think about that a bit longer, you'll see the error in your thought process. Take the Strong Fund for instance. Mr. Strong did very well in the market, did much better with his fund in general, but it was he and the other insiders that knew what the pool was going to do, who profited the most. They were, of course, eventually found guilty of insider trading, but not every incident of profiting off market manipulation is illegal. By and large; I'd love it if thousands of people followed my moves; think it through.


Well, I completely agree with this, but this is different. This is an example of you trying to control the market so that you know what it will do. The designer of this system would be using an opposite or time-shifted strategy...so I maintain my position that the strategy he's selling is not a good one to follow.

On your second point: Yeah, that's basically it. Economic factors are too complex to be predicted, but the short term effects of them aren't. This takes most of the guesswork out of it. However a system like this does require API usage, and that demands that you invest "more than just a little." Almost all brokers offering API access have a minimum account balance of 10 grand with equally high minimum lots, except Oanda which charges $600/month. They look like the best broker for regular folks, though. What broker are you using?
0 Replies
 
OCCOM BILL
 
  1  
Reply Wed 23 May, 2007 05:20 pm
That's what I meant by not a lot of money. I'm not currently trading at all. I ran my experiment hereGo ahead and download their sample account software for free, and test you theories. I'd like to know how it works out.
0 Replies
 
stuh505
 
  1  
Reply Wed 23 May, 2007 06:11 pm
This broker does not even offer an API, although it does come with a nice looking scripting language for the less tech-savvy users who want to do some automation. It would not be sufficient for me, though. They probably monitor the success rate of all those scripts, as well as code, and I wouldn't trust them with any of my "proprietary secrets." Integrating a concept into a new API is a fair bit of work. I'm using the GAIN capital API at the moment, and my client is almost operational. Unfortunately I don't expect it to work as well with this company as it would with some others...but I'll let you know how it goes.
0 Replies
 
OCCOM BILL
 
  1  
Reply Wed 23 May, 2007 07:11 pm
stuh505 wrote:
This broker does not even offer an API, although it does come with a nice looking scripting language for the less tech-savvy users who want to do some automation. It would not be sufficient for me, though. They probably monitor the success rate of all those scripts, as well as code, and I wouldn't trust them with any of my "proprietary secrets." Integrating a concept into a new API is a fair bit of work. I'm using the GAIN capital API at the moment, and my client is almost operational. Unfortunately I don't expect it to work as well with this company as it would with some others...but I'll let you know how it goes.
You can save some trouble by skipping over the programing stuff. I have no clue what you're talking about.
0 Replies
 
stuh505
 
  2  
Reply Fri 22 Jun, 2007 12:33 am
Hey Bill, how's the FOREX coming for you?
Fuichang
 
  1  
Reply Mon 29 Sep, 2008 04:29 am
@stuh505,
Trading successfully is not a very simple matter. It requires time, market knowledge and market understanding, a large amount of self restraint and analytical mind.
It is very difficult to make consistently money in foreign exchange markets as they are driven by many factors. Foreign exchange by nature, is a volatile market. The practice of trading it by way of margin increases that volatility exponentially. We are therefore talking about a very 'fast market' which is naturally inconsistent.
vaporforex
 
  1  
Reply Thu 1 Oct, 2009 06:17 pm
@Fuichang,
In Forex, the middleman or broker, makes money off the traders investment.
The traders make money off their own buying and selling monies coming into the kitty, or what is left after the brokers fanagle factor. Of course the middleman, after much fanagle, will adjust the scales in favor of his coffers. This fanalge factor is of course indicated in the wild unpredictable chasing of the trend slip and slide: or maket value. The interbank rate of course will not be shown on the the forex trading rates we see. Some traders have become good at guessing the right time to trade in their favor, and the right time to trade is not on any forex trading indicator.
0 Replies
 
RARRR
 
  1  
Reply Fri 28 Mar, 2014 01:21 am
@OCCOM BILL,
Why would you want to trade forex?
Most of the money goes to the trading brokers (their margin is typically 5/6%)
Which means you have to profit by 12% to surpass what you can get at the bank

Id rather stick to the stock market
0 Replies
 
TamikaSerrato
 
  0  
Reply Thu 22 May, 2014 02:14 am
@OCCOM BILL,
Forex Trading is trading currencies from different countries against each other. An example of a forex trade is to buy the Euro while simultaneously selling US Dollar. This is called going long on the EUR/USD.
0 Replies
 
jassielarry
 
  1  
Reply Mon 16 Jun, 2014 12:19 am
@OCCOM BILL,
i am new for trading...How it works can you explain in detail...
0 Replies
 
AthenaBrown
 
  1  
Reply Fri 14 Nov, 2014 06:11 am
Can you provide pretty much details about it, actually I am in a little bit confusion related to this topic.
0 Replies
 
 

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