Hi there - what's known as 'gapping' between prices from end of day Friday and start of business Sunday afternoon is very common, as news from over the weekend has been priced in while the market was closed. These spikes can knock out your stops, so ...

I should preface this comment by saying that I haven't traded options before, so please jump in and correct any misconceptions I may have. If the NZD and other carry trade related currencies are 'disasters waiting to happen', isn't the smart thing ...

If New Zealand were to lower its interest rates significantly, then high-yield seeking money (in particular carry trade) would be pulled out and invested elsewhere, causing the currency to weaken. Isn't the current run up in AUD and NZD mainly ...

My guess is that success in playing poker is significantly more highly correlated with success in trading than holding a university degree. Having said that, there are some people who have parlayed an academic background into huge success in ...

This is a great thread. I'm sure I'm not the only one who has spent a Saturday afternoon browsing all the trading books in my local Barnes & Nobles. One thing that has struck me is that the most valuable books (in terms of content and potential to ...

Not about Forex per se, but 'Rogue Trader' (1999) is a fictionalization of Nick Leeson's role in bringing down Bearings through derivatives trading.

Opti - do you have access to ProQuest? You may actually have to go to a computer in your university to log on - depends on what kind of licensing you guys have.

Hi Nikko - sorry to hear about your experiences. I haven't traded with GCI, but I would have reservations about opening an account with a forex broker headquartered in Belize, as tracking them down if you run in to problems is going to be hard ...

Nikko - if possible, trade a 'micro' account. $500 isn't really enough for a mini with high leverage (you'll get margin calls very quickly if a trade goes against you). Hope your run of success demo-trading continues when you get started with real ...

I think most people find the psychology of live trading totally different to that of demo trading. When real money is on the line, fear and greed prompt you to behave in ways that will hurt you, taking profits too quickly and letting losses run ...

Hi Nikko - I think the answer is that there is no central market in forex, and the prices quoted by different brokers are going to vary a little. I think the best thing is to look at a data feed that shows prices from your broker, which after all ...

Hi Opti - you can probably access a database service called ProQuest from your university library. ProQuest has a 'Dissertations and Theses Full Text' service. A search for the keyword 'forex' produced six results, and I'm sure other keywords would ...

AmatPro - thanks for sharing. It's something of a cautionary tale for the newer members among us. I hope you don't mind if I respond with some more questions without revealing the size of my own account Among the books that you used, are there ...

That's a fascinating story about the traders who got busted for tax avoidance in Thailand. I ran a few searches to try to find the story, but couldn't come up with anything. From your message I guess they were Australians? This case sounds a little ...

This is an old thread at this point, and the original poster has probably declared his major by now. Here are just a few of my thoughts on the subject. This advice is geared towards improving your own success as a trader, not making yourself more ...

Thanks to everyone who responded to my question. I understand the concerns some posters raised about the morality of tax avoidance, but as others have pointed out, I'm actually talking about situations in which meeting one's legal obligations in ...

Have you read about the martingale and anti-martingale strategies? The martingale is an old gambler's strategy which says you double up your bets each time you lose so that you'll recover your losses, e.g. in a game of roulette you lose your first ...

I see that OandA also offers silver (XAU). Any forex traders dabbling in this? I wish it were possible to trade other commodities on a spot basis (i.e. in the same way as we trade Forex). For various reasons I'm reluctant to get into futures and ...

Hi FxRules - great post, I've been asking myself the same questions recently. I think an important aspect of this question is the number of consecutive bad trades that would take you out of the game. Unless you're adjusting your capital risked on ...