Quote:
Originally posted by Viking548
I am assuming (pardon me if I am incorrect) you learned of the Forex on some TV commercial and then went to a one hour presentation. At the end of the seminar they offered you a wonderful, make an extra $70K a year software program for the low price of $3995.00. I went to the same seminar.
Rather than throw down the Visa, I decided to do some serious investigation first. Read three books. Looked around the internet. Finally I found a company, the largest in the world, that you can open an account with for a low minimum price. No monthly fees, trades from 3 to 7 pips, dependant upon pair chosen. Live chat 24/7 with actual people. Great help. It's FXCM.com. Your final $1000.00 can open a mini-account.
I started with a demo-account for the first month. With a free $50K, a few daring newbie trades but came out ahead after two weeks making $13,849.00. I lost about $1105.00 total combined. I had the system figured out.
Then I opened my mini-account ($1.00 per pip up and down). Did well in the first weeks averaging about $300 a week scalping. Extra spending cash.
Well then after chatting I learned about the News feature. Started reading the news and mixing that with Tech-analysis. I have $191 remaining in my account. I blame it on the USD/JPY, but the bottom line is it came down to GREED. I got Greedy. So for now I have suspended my trading, until I forget about the NEWS feature.
I recommend FXCM to anyone who is interested in learning and working with the largest company with offices around the globe.
Hang in there. I will.
The funny thing is above my monitor I have a huge poster that is supposed to remind me that indeed:
GREED KILLS!!!!
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With respect, you traded a demo in the beginning. The actual values do not mean anything as the pressure of trading large sizes are also not existant. Scalping for a few hundred a week. That is great, but odds are you are on the rader for scalping and will be shutdown in 2 months. Be careful. Pickers are not liked and they are watched like hawks.
I am glad you liked FXCM, I miss those colleagues. But I have them on MSN so I still stay in touch.