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Forex Trading

  • 08-09-2019 1:31pm
    #1
    Registered Users Posts: 6 ✭✭✭ Owanea1


    Hi everyone,

    After a few months of studying, etc. Im thinking of getting involved in the forex market. Just to test out if I’ve learned anything really!

    Just wondering if people trade forex what brokers, etc. do they use? I have set up an account on trading view so I can see the charts but haven’t set a broker account. To be honest I’m a bit lost with it because there seems to be so many options & I don’t know which one to go with.

    Should probably add this will mostly be for day trading purposes not LT holds.

    Any help would be really appreciated thanks!


Comments

  • Registered Users Posts: 2,217 ✭✭✭ robman60


    I've been doing it for a few months on IG trading platform. Spreads seem quite good for the common currencies.

    Best tip I've got regarding stop losses is only keep a losing position open as long as the conditions that led you to the position remain in play. Close a losing position if the dynamics have changed, rather than just hoping it'll swing back in your favour, without having a reason to think it should.


  • Registered Users Posts: 6 ✭✭✭ Owanea1


    robman60 wrote: »
    I've been doing it for a few months on IG trading platform. Spreads seem quite good for the common currencies.

    Best tip I've got regarding stop losses is only keep a losing position open as long as the conditions that led you to the position remain in play. Close a losing position if the dynamics have changed, rather than just hoping it'll swing back in your favour, without having a reason to think it should.

    Thanks for that 😊

    I’ve looked & heard about using MT4 through using IG as a broker, do you have experience of that?


  • Registered Users Posts: 194 ✭✭ outonawing


    I've been using MT4 on Global Prime, an Australian broker for a few years and am very happy with their service. Eur/USD spread is often zero or 0.1


  • Registered Users Posts: 108 ✭✭ byrner51


    Owanea1 wrote: »
    Hi everyone,

    After a few months of studying, etc. Im thinking of getting involved in the forex market. Just to test out if I’ve learned anything really!

    Just wondering if people trade forex what brokers, etc. do they use? I have set up an account on trading view so I can see the charts but haven’t set a broker account. To be honest I’m a bit lost with it because there seems to be so many options & I don’t know which one to go with.

    Should probably add this will mostly be for day trading purposes not LT holds.

    Any help would be really appreciated thanks!


    Hi just wondering how you are getting on with this ?

    I have also been studying the last few months and trading about two months now.

    I use trading view for chart analysis and oanda is my broker. The great thing about oanda is you can link trading view up with it.

    What method of trading have you been studying? I have been studying the supply and demand methodology.


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