[chaostrader]

Originally Posted by 1time »

Im still in the process of learning. Will attend a seminar next month. Anyone recommend any good seminars?

Forget the seminars. Spend that money in actual learning of the markets. If you interested in Forex, open a mini account and spend that money on your educational fee. Educational fee = market donation.

Be prepared to lose. Once you learn not to lose, you will learn what is required to win.

[Lisa]

Originally Posted by 1time »

Just graduated from college and looking to start trading the FOREX markets. Ive been looking into brokers and seems like FOREX brokers offer huge leverage. They also guarantee my stops so I can only lose what I put in. Any advice on a sufficient capital for trading?

I highly recommend starting off with more risk capital. If $1000 is all you can afford to open an account, you're chances are close to zero in succeeding.

[1time]

Originally Posted by luke24.5 »

Im still in the process of learning. Will attend a seminar next month. Anyone recommend any good seminars?

Mind if I ask whose seminar?

I think you're money would be better spent on Real-time datafeed with a simulator and a few good books regarding Market Profile and basic TA. Support and Resistance related info and chart patterns are helpful but there's no substitute for personal observation.

Cisco Futures offers a home study course with a very good rep. Scientific Investors teaches basic support and resistance.

Make sure that you're not just paying thousands for a weekend if you're new to trading. This stuff takes a while to sink in to the point you can think and trade in real time.

I was planning on going to a Forex seminar in London. Not too familiar with the guys who host it but it is supposed to be a big event. But from what I have been reading here... I think I will pass on it. Better to do a little more research. Perhaps I am rushing things too fast.

[Follow The Trend]

In my opinion $1000 is no where near enough to start trading, especially on the FX market. While you might make a few $ with a couple of successful trades, it only takes one big loss to wipe out your entire capital.

The most successful traders take small "turns" frequently, on large amounts of capital. The costs associated with trading $1000 would make it uneconomical in my view.

[carter]

$1000 is enough to buy you some decent trading books. If you want to start trading seriously, you need to be looking at minimum $30k - $40k plus living expenses.

[coachdeb]

Originally Posted by Soultrader »

...why dont you join a trading room and just watch and listen for 2-3 months. This is alot better than attending a 3-5 day seminar costing thousands.

Great idea! What rooms do you know of that are free and worthwhile?

Deb

[Soultrader]

hello Deb,

I recommend taking some free trials at Linda Rashcke's room or Hubert & Carters trading room. I think the websites are tradethemarkets.com and lbrgroup.com.

Also luke24.5 recommneded a good trading room for the futs. I don't quite remember the link but you should find it if you do a search with his name.

What's important is to find a trading style that fits you and then expand on it. Although the mentor may be profitable, if the persons style does not suit your trading style, you will have a hard time incorporating it into your methodology. My advice is to find what suits you, adjust it to your style, and develop your own. There is no need to be creative and come up with your own methods. Trading has been around for quite some time now and you easily make a living by copying other people's strategy. Just make sure you find what fits you.

[coachdeb]

Thanks! Will check them out. I've been using 4XMadeEasy and it really isn't ...so easy that is. I consider myself a very intelligent person and I'm having a great deal of trouble with this package. They use pressure (buying/selling) charts instead of price charts and every time I enter a trade with their software, I lose instantly. Not just the spread either, I've always chosen the wrong direction. I feel like I'm working with a shadow so I'm switching to actual price charts just to see if I do better.

Thanks for the pointers!

Deb