FX Trading

[Faelin]

Has anyone tried to crade curriencies or options/commodities? I'm running the free 30 day trial of www.refcofx.com it seems interesting, complicated and definately not for the faint of heart. has anyone else dealt with this before?

This site give you a demo account with $50k in play money to get used to their software and possibly get the hang of trading currencies.

All tips, cautions, and pointers greatly appreciated.

[sogrgirl]

those waters are chalk full of sharks, proceed with caution.

don't spend money on programs that promise to do it all for you. you can spend $5k on a program, and then they ask for another $800/mo (or so) for the priviledge of going thru their site to make your trades, where they also take a cut.

I can recommend a book: "Come Into My Trading Room" by Alexander Elder for a starter. avoid 4X Made Easy, unless you can get it at the library. he is a shark. some people like him, i guess it is all personal choice...

check out moneytec.com it is a great forum.

[gacjr]

You can get free alerts/signals from FX Trader (http://www.1fxtrader.com/alerts.php), I tried them for 2 weeks with good results. If you go through them to sign up for REFCO the signals are free, if you want to go through another outfit other than REFCO then FX Trader charges 250.00 a month for them.

See how well you do with the REFCO Demo, if you make good trades on the demo then try a Mini Account. Good Luck ;)