I am a newbie and need some advice.

[PittsburghFX]

I graduated last Spring from Pitt, Econ with Double Honors, but all said and done, I learned to trade with my father when I was 16. It started with baby steps so I understand what everyone here is going through. Academic knowledge is a good foundation, but paper trading and starting small is what you need to take it to the next level. We all must learn from our bruses, it is the only way to learn, which means ideally learn on the demo and refine yourself with small mini account.

I had one client which was an econ prof for Chicago U, this guy flat out sucked at trading, but he thought he knew so much. He was a great guy, but terrible trader because he let all that knowledge get the best of him. Consistent trading is not done by academics but by people who have John Wayne approach to trading.

[cilvurfx]

MGForex.com is right around the corner from wall street. If you are in Manhattan you might want to go talk to the guys if yu have questions. I trade with their platform and have met with them quite a few times. They're a great bunch really. It is nice to have a company close to you that is in the same time zone. It adds to the comfort level.

Thanks!
Calvin
Trader and Instructor
Cilvur.com

[newfx04]

Hi saw the thing on free demostration. Just warning you I tried them and have been harrased everyday for 9 days straight.
I also am looking for a reputable service to trade with. I personally like Gain and have never had a problem. Only trading for 3 months though.
I recieved a broker recomendation list from dollartrader.net. They are not IB's for anyone and track the up time etc. FX Solutions came out to be the best but they don't have any guarantees. Also Refco is the same as FXCM. has anyone tried e-trade.

[PittsburghFX]

Originally posted by newfx04
Also Refco is the same as FXCM.

Just to clarify, since I was employed by FXCM, RefcoFX Note the FX, NOT to be confused by Refco Group Futures, is in the same floor and offices are near each other; HOWEVER RefcoFX has entirely different Credit relationships, trading partners, clearing firms, banks, and databases.

I was there 75 hrs per week, I know.

[Tekunda]

Originally posted by PittsburghFX
but by people who have John Wayne approach to trading.

Pittsburgh, I am afraid that this is the exact approach which can get you in big trouble in real life. In a fantasie world (in his movies) John Wayne was the super hero, immune to bullets, invincible.
In real life the clocks run differently. You should know, as you were pretty close to disaster and this time your John Wanye approach, which got you in trouble might also have saved you, but there is always a next time. So cowboy, watch out. The market is invincible, not John Wayne, the trader.

[PittsburghFX]

Originally posted by Tekunda


Pittsburgh, I am afraid that this is the exact approach which can get you in big trouble in real life. In a fantasie world (in his movies) John Wayne was the super hero, immune to bullets, invincible.
In real life the clocks run differently. You should know, as you were pretty close to disaster and this time your John Wanye approach, which got you in trouble might also have saved you, but there is always a next time. So cowboy, watch out. The market is invincible, not John Wayne, the trader.

They don't call him "The Duke" for nothing. Thanks for the reminder Tek. Semper Fi and Good luck trading. I am making it back shorting average the GBP. I cashed my options out and wire into my FX account, hedging is the only way to go!

[autofx]

Consistent trading is not done by academics but by people who have John Wayne approach to trading.

I disagree with this, PittsburghFX. I think the humble,
mild-mannered people who have calm nerves are some of
the very best traders.

And an intellectually honest academic can be a great trader.

The rough, tough personality is certainly not a requisite to
effective trading.

[nzbryant]

I agree with autofx. Emotions cause failure in trading. Be a dispassionate happy non-risk averse disciplined system execution trader, with a scientific investigative bent.