Forex trading - Tips for getting started?

Discussion in 'After Hours Lounge (Off Topic)' started by Bill Catherall, Jan 26, 2004.

  1. Bill Catherall

    Bill Catherall Screenwriter

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    Has anybody here ever done or is currently doing Forex trading?

    I've been hearing a little bit about this recently and have started looking into it, but I don't really know where to start. Of course, there are companies that have software and classes available that cost thousands of dollars. I'm sure there are more economical ways to learn and get started. I just don't know where or how.

    Does anybody have any good tips for how to get started?
     
  2. Tom Meyer

    Tom Meyer Second Unit

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    my $.02 ...

    As one who's been in the financial industry for 10+ yrs (granted in tech, not trading), I'd say stay away from it if you really "don't know where to start". Trading currency options is waaaay to risky for the average investor. Hell, even experienced traders can lose millions in a day. There are also a lot of scams out there ...

    http://www.cftc.gov/enf/enfforex.htm

    But, if you're determined to do it, a simple google seach will turn up thousands of sites willing let you give it a shot. One info site that looks OK (but obviously biased) is:

    http://www.forex-guide.net/index.html
     
  3. Bill Catherall

    Bill Catherall Screenwriter

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    Thanks for that info Tom. It was the scams that I was mostly afraid of. And doing a Google search, it's hard to tell the scams from the legitimate.
     

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