I'm planning to move on to the trading with my live account soon and I hope the results will be at least as good. I have been lurking around some of the forums and people already tell me that I can't replicate the success (or luck) of my Forex demo account :(
Why do people have to be that negative anyway?
I've been trading hard for that matters!
Nonetheless, I've been trading and making money based on my trades with GBP/JPY mainly. Many people are favoring GBP/USD and EUR/USD but I have no experienced with them, yet... Let's see!
I'm wondering what Forex strategies are you guys using? I'm trading based on Fibonacci and Moving Averages. Do share with me about your own Forex strategies okay? Let's be successful in Forex trading together :)
Forex Trading
For those who haven't heard of, or wanting to join but never had a chance, Forex trading is but the buying and selling of currencies (duh!). It used to be that only top bankers are able to access trading of currencies, but modern technology has somewhat allowed us to trade Forex as individual investors.
Aside from the US, many countries are offering pretty reasonable LEVERAGE, which means if you are on 1:100 you can basically earn $10 per pip... Whereby a pip is the 4th decimal in 0.0001. Yup, that's how regular Joes made overnight money with Forex trading. Then again, your capital will be burnt if you ain't careful. So... Be careful when trading.
You can trade Forex 24/7, by the way, Monday to a few hours into Saturday depending on where you live. Anyone can setup a Forex account with online brokers. Some of the better ones are AVAFX, MIGBank, and FXCM.
Some of the Forex brokers could be very scam and hold your money, like HotForex.com. I personally never had experience with them but from what I heard from my colleagues, they have been unfairly scammed by HotForex. So, whichever Forex brokers you choose, it's best to do your research and test their customer support before hand.
I'm currently switching to AVAFX live account and will update here if there's anything good or bad about them! Let's share your thoughts on Forex trading!
