Bitcoin Forum
December 11, 2016, 11:59:25 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: I'm intrigued by the idea of Forex...  (Read 1611 times)
Anonymous
Guest

February 21, 2011, 09:02:29 PM
 #1

I am fond of the idea of trading currency based on political and other worldly affairs. I know it's risky business with its liquid nature. Relatively, I know pretty much nothing about it. Can someone introduce me to Forex and how to rationally enter this game of trade?

Thank you.
1481457565
Hero Member
*
Offline Offline

Posts: 1481457565

View Profile Personal Message (Offline)

Ignore
1481457565
Reply with quote  #2

1481457565
Report to moderator
1481457565
Hero Member
*
Offline Offline

Posts: 1481457565

View Profile Personal Message (Offline)

Ignore
1481457565
Reply with quote  #2

1481457565
Report to moderator
1481457565
Hero Member
*
Offline Offline

Posts: 1481457565

View Profile Personal Message (Offline)

Ignore
1481457565
Reply with quote  #2

1481457565
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
ribuck
Donator
Legendary
*
Offline Offline

Activity: 826


View Profile
February 21, 2011, 09:13:30 PM
 #2

An interesting way to dabble might be to use bitcoins as an intermediary currency.

Bitcoin Central supports USD and Euros. BTCex supports USD, Euros, Rubles and Yen.
Garrett Burgwardt
Sr. Member
****
Offline Offline

Activity: 350



View Profile
February 21, 2011, 09:14:22 PM
 #3

I've done some forex trading Atlas. Message me on IRC or something and I can give you some hints.
spndr7
Legendary
*
Offline Offline

Activity: 1021



View Profile WWW
February 23, 2011, 02:23:59 PM
 #4

Forex trading is highly risky but can yeild maximum as compared to any other trade.

If you want to try for nothing then try marketiva,they give you 5 $ to start .

visit http://earnforex.com --very good resource for forex tarding

Bimmerhead
Legendary
*
Offline Offline

Activity: 974



View Profile WWW
February 23, 2011, 06:56:37 PM
 #5

The great thing about forex is there is always a bull market somewhere.
Of course then there is always a bear market somewhere too.  And the leverage is spectacular.

One way to dip your toe in the water is to sign up at currensee.com and follow more experienced traders.  I've also found the James16 thread at forexfactory helpful.


Auroracoin forum: http://auroraspjall.is/   Auroracoin-enabled Q&A: https://spurt.is/
AuroracoinLocal: https://www.skiptum.is/   Auroracoin twitter tipping: http://auroratip.auroracoin.io/#/
Anonymous
Guest

February 23, 2011, 08:10:40 PM
 #6

Thank you all.
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
February 23, 2011, 08:22:52 PM
 #7

There is a great books called "market wizards".

If you read some of it, you realize what is going on behind the scenes.

And, you realize that it is probably only 1 in a 1000 to CONTINUOUSLY make profit (like Vladimir has mentioned above, there may be 20% who make some gains over 1-2 years, but then lose all again).

Not to scare you, but in line with what others mentioned before, and in line with any other profession, you can only sustainably win if you are a damn expert.. so you need to study, learn, practice, fail, learn again more, practice..

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
Anonymous
Guest

February 23, 2011, 08:28:33 PM
 #8

Heh, I assumed it's a difficult game. There's no easy money. That's why I am asking for information so I can potentially make myself the best player possible.

Again, thanks. 
rebuilder
Legendary
*
Offline Offline

Activity: 1618



View Profile
February 23, 2011, 08:31:29 PM
 #9

Heh, I assumed it's a difficult game. There's no easy money. That's why I am asking for information so I can potentially make myself the best player possible.

Again, thanks. 

There is a difference between a difficult game and a game of chance. The games may look very similar, though.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
---------------------------------------------------------------
Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
gusti
Legendary
*
Offline Offline

Activity: 1102


View Profile
February 23, 2011, 08:38:26 PM
 #10

Much like Poker, Forex is a money management game.

If you don't own the private keys, you don't own the coins.
bitdragon
Hero Member
*****
Offline Offline

Activity: 610


peace


View Profile WWW
February 23, 2011, 08:54:46 PM
 #11

It's a rigged game for sure. I know one or two or work in that industry and it is definitely not a transparent market. And I spent some months in there a few years ago doing a few trades.... I have a colleague who does that daily now and it is stressful. Be ready to lose all you put in there.

Prices are manipulated to trigger stop losses for example. The quote you get does not have to be exactly the same as someone else. Placing an order right in between the bid and the ask will not be available to anyone.
Most people lose so the house is betting against you. It is a computer system which forces users to lose in favour of the house. Those who set one of these up are making boat loads of cash, in appearance at least.

My 2 cents is to get out of there. If you do wander in there and have a profit, no matter how small, take it. The bigger the leverage, the bigger the immediate loss due to the spread.
Have rules before you enter a trade, what loss is maximum, profit objective, time period, as your emotions after will make you lose it all.

A friend sent me the link today of currencyfair.com if you are willing to trade currencies with other humans and no leverage;)


Nefario
Hero Member
*****
Offline Offline

Activity: 602


GLBSE Support support@glbse.com


View Profile WWW
February 24, 2011, 02:52:08 AM
 #12

If you want to try currency speculation do it on mtgox for a while. There are bots on there but as far as I know they are not the terminators you find on regular fx markets.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Nefario
Hero Member
*****
Offline Offline

Activity: 602


GLBSE Support support@glbse.com


View Profile WWW
February 24, 2011, 03:30:15 AM
 #13

at least on mtgox you'll waste your money for good of bitcoin community as opposed to providing pocket money to some city fatcat in  case of forex

Yes, I can't imagine there are too many evil banker/traders from these big corporations using mtgox; I could be wrong, the might just be biding their time.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
ColdHardMetal
Hero Member
*****
Offline Offline

Activity: 701



View Profile
February 24, 2011, 07:08:01 AM
 #14

Lots of the forex trading platforms will let you set up play money accounts so you can familiarize yourself with the software, test strategies etc under actual market conditions. I would recommend setting one of those up and playing around with it to get a feel for what is going on. Don't assume because you make play money you will make real money. The emotional component difference between paper trading and the real deal is quite real/surprising.

Do a search for Oanda and set up a practice account there. That's the one I play around with when the mood strikes. They offer a ton of pairs and have pretty narrow spreads so they are about as good as you'll probably find for a retail market maker.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!