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Good Afternoon RealTraders:
First let me qualify these next statements by saying I have 20 years of
investment management experience and the last four managing Forex accounts for
individuals, companies, etc. This is not a market to learn to trade in. The
comment of where is the real market? is so true. The key is to find the right
dealer. One who is reputable and honest. This is not easy to find.
Secondly, trading intraday in too short of a time frame , coupled with the price
discrepancy can chew up anyones account. This market takes no hostages, but
instead shoots them on site.
Your friend should take his time in starting to trade this market. I strongly
suggest he find a dealer that will let him sit with the dealers and watch how
dealing works. Thirdly, I would not trade this market in anything less than a 20
minute time frame. If you have the charting capabilities, I would use a 89 tick
or 144 tick charts , but no less. Tick charts provide clearer and more timely
trade entry signals.
Good Luck,
Richard Chehovin
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