Whats the best place to learn the currency trading tricks?

Public Comments

1. individuals trading foreign currencies is DANGEROUS.. Why? because many forex brokerages leverage your portfoio (i.e. you are allowed to trade $10,000 in currency for a $1000 deposit) The problem is, if your currency drops 10% in price (using the above leverage ratio), your account is frozen, and your entire investment is GONE. And even larger problem is what are known as "Spreads". This is the difference in price between the highest bidding price when you buy the currency, and the lowest asking price when you sell the currency. The difference is how the currency specialist (or your broker) makes a little bit of money on each transaction. Always look at the spreads.. If they are more than a few pips, your broker is ripping you off. Do not consider investing in forex without reading several books on it. Try your local library. Don't believe all the hype from the forex brokerages.
2. Man don't let these guys scare you. Yes there is a spread but depending on your portfolio amount and what your margin is set at, you will usually make it up within a few minutes. Besides you only pay the spreads when you open new trades. I will usually ride my trade line for at least a week before I re-allocate my portfolio. Yes you can leverage your portfolio, and I would never trade without doing so. I am always leveraged at 400:1. It is just smart. Leveraged money only applies to the interest you earn not to the amount you are actually putting into the trade. So you invest $10k at ten percent you are actually risking 1k in trade and leveraging 400k in interest. I agree, you need to research and learn, and information is great, however there is a thing called applied knowledge that by far out weighs information. Get yourself plugged into a system that is proven. I stumbled upon FreedomRocks a while back and have never left. I gained a ton of applied knowledge there and now do all my trading there. Check out the free trial they offer at http://www.yourforexinvestor.com I would also suggest going to http://www.babypips.com to gain that all important information I was talking about. This is a great informational site and one I have referred to many a time. Best wishes, Brandon Wells 877-773-5345 http://www.yourforexinvestor.com