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Hi Ashif and Rtr's,
I agree that opening an account of $1000 for forex trading is asking for
trouble. You are correct that the forex market is unregulated, although some
companies are regulated by various authorities such as the SFA. This is one
of the major reasons not to trade forex touted by futures brokers and those
who prefer to trade currency futures.
I trade forex over the net. At times it can be unreliable, but it is fairly
good. With the company I deal with, their are times when I stop recieving
market quotes, but it is very rare when their dealing quotes acutally stops
working. Disconnection from their server is the main problem, but it only
takes about 30 seconds to get back on.
Because of this, I would not deal with a company that does not have a phone
service intergrated in with their internet service. I also would not trade
without a seperate data source from that recieved over the net.
Regards
Simon Trevor
>Hi Rtrs,
>
> Thanks to Nabi/Simon and others for giving us
>the benefit of their experience on forexing.
>
> The Daily chart needs
>an open and a close. I guess most technical analysis
>software would cut off at midnight, and treat it as a
>close, treating the next tick as the open.
>Somebody asked me about reading material on forex trading -
> there is a book on trading currency by Luca mentioned to
>me by a forex trader available at Amazon.com or any major
>book store- I have no connection with either.
> Obviously forex trading is
>just now becoming accessible to the individual trader but
>like currency futures it is better to have at least
>$10,000 before considering trading it. Most reputed
>companies set up a sizeable minimum. The Money Garden one
>is the one with low minimum. I would stick to a company
>that has a minimum of atleast 10,000 dollars , properly
>segregated account and a good reputation. This kind of
>trading is not regulated by CFTC/NFA as far as I know.
>
>Does anybody trade using mostly internet,
>quotes,orders,news etc. if so, how do they deal with the
>internet unreliability. Happy trading, Ashif
> .
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