Forex

[OffShore Man]

Anyone trading on Forex? If so have you had any issues, problems ect.?
I have been sniffing and dipping my toes in it for the last six months and was planing on this year getting more into it.

[11andy11]

I have been trading forex for about a year and a half. What do you want to know?

[OffShore Man]

Being droped, Froze out issues with server(volume issues) ect, how is the service if there is a problem ect. Any problems with delyed trades within there system. Anything that you have found to be a pitfall and should be avoided. I am new just looking for any possible issues to be avoided.

[11andy11]

you need to find a reputable broker and thats not easy. Since you are trading against the broker if you have a winning position then they are losing money. I am using metatrader and my broker is interbankfx. They can and will change spreads during times of high volume especially around major news announcements. I just don't trade during those times. If price is moving very quickly it can sometimes be more difficult to fill a position. I just make sure my deviation is set to 5 pips and so I generally get filled pretty close to where I want to be. I have had a couple of issues with their data feed gapping or missing candlesticks that cost me the trade. I have not have had any issues with their trade context freezing up. If so you can jump on the phone or live chat them and close the position. Overall they are a fairly good broker for a small starter account. I am only trading micro lots right now. Once I move to a larger account I will find a different broker with better spreads. What type of trading system are you focusing on? Have you traded live money yet or just a demo account?

[OffShore Man]

Demo only and just learning. Thanks for the great post!! You answered some questions I haven't got to yet. Was Hoping to go micro in a couple of months but well see. I am also looking at buying my current primary employer out, so it may get delayed for a while.

[11andy11]

have you been on babypips.com? There a ton of info there. For realtime news announcements I use forexfactory.com Once you go to live money its a whole nother animal. Good luck. If you have any other question feel free to PM me. One thing I can tell you is keep it simple. You can put literally thousands of indicators on your screen. And nothing beats screen time, just watching how different currency pairs move.

[OffShore Man]

11andy11 Thanks for the info. I plan on keeping it real simple for a while.

[OffShore Man]

Thanks 11andy11 I will update you when I get a Metatrader system set up.

[11andy11]

sent you a PM

[ovaforty]

I agree with 11andy11. I have been using Interbankfx for 5 years.
I have developed a reasonably low risk longer term strategy over the past 5 years. I am thinking about doing some private chart analysis tutoring to someone who might be interested.