What is the best strategy to use in the Foreign Currency market with less than $500 dollars of investment Cap
There are countless strategies out there and many of them work. Put your $500 away for the moment, and do some reading up (the internet has tons of information). Then sign up for a dummy forex trading account (free) and trade away using the strategy that made the most sense to you in your reading. If your strategy produces consistent results, that’s when you start considering if you should be using that $500.
http://smokingflax.blogspot.com
March 16th, 2010 at 9:21 pm
Mr. B This is not the right forum for this type of question. I know you are new but by posting such questions you will attract every scam artist out there, with great promises of riches with a minimum investment. If you want a fuller answer click on my picture and pick best answers since i just got a best answer for similar question from daisy. Bank is best bet for you, its only 500 but that can be a lot of money sometimes. Source 30 years investing, Good luck, Jerry M.
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March 16th, 2010 at 9:39 pm
There are countless strategies out there and many of them work. Put your $500 away for the moment, and do some reading up (the internet has tons of information). Then sign up for a dummy forex trading account (free) and trade away using the strategy that made the most sense to you in your reading. If your strategy produces consistent results, that’s when you start considering if you should be using that $500.
http://smokingflax.blogspot.com
References :
March 16th, 2010 at 10:16 pm
You can open a Forex account for $300, a "mini" account. Your 4x firm has ‘recommendastions’/suggestion as to what currency pair is actively trending. Get familiar with their charting platform and choose two sets of moving averages. Trade small number of contracts when BOTH ma charts confirm the correct side of a trade. SET STOPS. GO for it!
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your forex brokerage web site.
March 16th, 2010 at 10:47 pm
with 500.00 of capital i would go for longevity with a mini account using no more than 3% for any trade .I would use a scalp technique using a 10 min chart ,trade only the 4 majors on either the European market or the US.you should find one or two entries a day.I you are interested to hear more about the strategy let me know.It is relatively simple
good luck
fxtrader624
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March 16th, 2010 at 10:58 pm
Hey man – start with some tutorial websites: http://www.babypips.com is a good newbie site. All I can say is: read, read, read and then read. Increase your forex IQ before trading real cash – this type of super-leveraged trading can be a boon but can wipe you out very quickly. After you’ve traded successfully on a paper account for at LEAST 3 months with a reproducable strategy (there are tons available for free – read up on the various sites or any of a number of financial market books you can find in your library), ONLY THEN consider opening a mini with your $500. Reasearch your broker decision – there are plenty of sharks out there. Your objective is consistency, not huge profit – if you can consistently manage a small increase in your account each and every month, then you will have found financial security. This will take you time – do not rush it. Even if it takes 4 years to master this market, it will be a 4 year education that will pay you HUGE dividens the rest of your life. Good luck!
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March 16th, 2010 at 11:26 pm
I assume that you are new to this kind of investment. Please accept my sincere apologies if I am wrong.
My advice is that if you are new, don’t use real money first. There are many brokers that offer free practice account using virtual money. Practice and learn as much as you can. As you progresses, you will develop your own strategies.
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