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Forex. Where to Begin?

Discussion in 'BlackHat Lounge' started by invisioned, Oct 9, 2009.

  1. invisioned

    invisioned Registered Member

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    Hello guys, I've recently had an interest in forex. Ive seen people post software, applications and so on for forex on BHW. Does anyone here work Forex? If so, What would be a starting point for a Forex Newbie to get into the game of currency trading? I can easily write this question in g00gle but its probably not as objective as geting input from a person with "real-world" experience in forex. So to avoid all the theory, I'd like to ask, how do you get into the game of forex and what determines the success in forex.
     
  2. Guaji

    Guaji Regular Member

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    I will recommend : babypips.com

    Go to school and start learning...
     
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  3. blkhatman

    blkhatman Registered Member

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    Forex is a tough gig and you need a good bankroll. I say start with studying the economics of money and learn the basics of forex trading. Chart trading with forex is ultra risky because of the volatility so learn to read economic news and think long term with enough bank to not tap out on the the daily up and downs as you ride the big trends.
     
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  4. kouxx

    kouxx Junior Member

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    wow this is taff...

    when someone asks me about that... i say forex is like poker and i wouldn't suggest someone to start with it.
    the truth is, forex is so not like poker.. but it is so much a sience.. that for the most people it seems to be like poker..
    even for me...
    i guess if i would tell you numbers, you wouldn't belief how much i make on that,..
    a friend of mine tells when to buy and sell..
    and is right most of the time...
    some days you will lose $$.$$$ but then you can make it 5 times...

    i would like to tell you a course or ebook... but i don't realy think there i one with usefull information... as forex requires you to know about economics, psycology and so much you can learn in book.


    feel free to cantact me when you have learned about the fundamentals. :) (if you like)
     
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  5. kanshu

    kanshu Regular Member

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    I used to think that, but apparently, FOREX trading has now gone retail. People can actually start trading for less than $100. I was surprised when I found out in another forum.

    Anyway, I'm not sure yet what the implications are, but this may signal a growth in interests for FOREX-related publications. It may just be the new new thing. So, just in case, I'm starting a FOREX-related blog so I wouldn't miss out on a profitable opportunity.
     
    Last edited: Oct 9, 2009
  6. kanshu

    kanshu Regular Member

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    I have been interested in FOREX for a very long time now but I haven't acted on my interest because of the size of trading capital needed. However, just recently, I found out that the trading capital is now very affordable or if I might say, ridiculously affordable.

    So, to answer your question on where to start, may I suggest you download the Canadian TV show, Traders. I uploaded 5 seasons worth of torrents at mininova.org. (Since I used demonoid.com trackers, you may have to wait until demonoid.com is back online. It's undergoing maintenance for some time now.) Anyway, Traders is a show about an investment bank with a trading floor. You will get a feel of what it's like to be in the market including the FOREX market through the eyes of one of the main characters.

    After immersing yourself in the world of currency speculators, you're ready to dive into a wide variety of FOREX books circulating on the internet. You don't need to read everything. Just browse through so you can familiarize yourself with the terminologies.

    The next step, after that, is to get a demo account at FXCM and just try to break even. At this point, I would say that you are almost ready or right on the edge for the actual thing where you can make and lose real money.
     
  7. supersenwins

    supersenwins Junior Member

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    Yup, I am absolutely interested in Forex. If not for trading atleast to promote some Forex Robots through Blogs & stuff.

    Most recommend BabyPips.com, have visited the site but I havent really gone through all of it. Will certainly go through them this week & learn the ABC's of Forex Trading.

    Is there anyother Website to Forex like BlackHatWorld.com is to Making Money Online, where active discussions, MediaFire Links to Latest Forex Robots :D , no BS reviews abt them can be found?

    What do u Pros Recommend??

    ~ Forex Noob
     
    Last edited: Oct 9, 2009
  8. jay2success

    jay2success Registered Member

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    Yes there is forex forum with many robots and trading systems developed by the members. You can get them free and much better than any commercial robot forex. Check them here:

    Code:
    http://www.forexfactory.com/
    Hope it helps.
     
  9. oxonbeef

    oxonbeef BANNED BANNED

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    @ thejazza
    10 - Promoting Other Forums or Membership sites. - You are not allowed to promote other forums/membership sites here by any means, not even in your signature. I don't care if you own it, your friend owns it, or your grandma owns it. You are not allowed to promote other forums here without permission from the BHW staff.

    And as soon as I saw you promoting FAPTurbo I laughed and left. No serious forex
    forum would promote such crap it destroys their credibility.
     
  10. aylos67

    aylos67 Newbie

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    forex robots always fail at the long run..