Is it possible to start trading FOREX with $1000?

[Reaver]

Torero,

I use Oanda, and have for a while. They are good, the only thing to watch out for however is when they widen spreads at news releases. That can trigger a stop. Other than that though, they have the best execution I've seen.

[pipMonster]

Ditto w/ Reaver. I had one problem with Oanda and it was resolved as soon as I brought it to their attention. I've wanted to leave them as I became very upset a few times with their variable spreads, but I found no other equally good broker. Sometimes it's the devil you know vs. the devil you don't.

[Reaver]

I agree Pipmonster,

I have almost packed a couple of times myself, but like you said....I couldn't find anything better. The only broker I'd be interested in would be MB Trading, besides Oanda. And that's only because they have such a good rep in other instruments and I like the non dealing desk approach, although I'm not sure how accurate that really is....

[rwalkerx]

I've been playing around with a mini account on forex.com Started with $1200. I've been up $400 and down $300. Battling back and forth. This has gone on for 5 months now. I guess I'm no good at forex but atleast I haven't blown out my account.

[Reaver]

Originally Posted by rwalkerx I've been playing around with a mini account on forex.com Started with $1200. I've been up $400 and down $300. Battling back and forth. This has gone on for 5 months now. I guess I'm no good at forex but atleast I haven't blown out my account.

Yeah I know what you mean brother. Forex apparently is different than the other markets...man I have seen some crazy moves...but then again I may be completely off base since I've only traded forex so far....can't wait to be ready for futures...

[InvestRight]

I don't believe in spendin 1000's of $$'s on seminars, or paying brokers for something I can do better myself. I use a hedging / carry trade strategy from FreedomRocks4x.com very successfully. MT

[walterw]

screentime, screntime, screentime , monday to monday and monday to monday plus RRR (RISK REWARD RATIO) ¡¡¡ you need to make good gains and small stops... cant get out of a trade winning little, cant afford to trade with such great big stops... so screentime, screentime, screentime.... it is possible... really doesnt matter much wich technique, its important that the technique you choose has a good RRR included on its plan.... maybe... after 6 months of succesfull paper trading, you can start thinking of real money trading....

[vince1887]

OPen up a demo account 1st and see how well you do with play $. Go to any brokerage that offers Metatrader 4 platforms and at least get used to see how it feels. Stay with this site and learn the ABC's. You will make it just fine.

[vince1887]

If you are going to trade anyway with real $$ then use only .10 lot to trade. Once you make your account grows to 1500.00 then trade .20 lots. Whe the account is up to 2000.00 then gradually increase. If you start with .5 to 1.0 lots, well......I hope you have more money to fund your account.

Be patient. Learn all you can from this sight.

Vince

[sevensa]

Originally Posted by vince1887 OPen up a demo account 1st and see how well you do with play $. Go to any brokerage that offers Metatrader 4 platforms and at least get used to see how it feels. Stay with this site and learn the ABC's. You will make it just fine.

The question was asked in August 2006 and the person asking the question has not been around since September 2006. You are a bit late with your answer.