Need some help

Hi Guys

I am new to trading, but have been spending time on this web for the last couple of days.

I need some help with decision making regarding to platform choosing before I start trading live.

Then i also need to know what news effects what currencies seeing that has been getting me under time and again.

I enjoy your posts, very educational, I've learned more here about trading than anywhere alse.

Manus

Welcome to the world of trading.

Most people seem to like Oanda when going live as they allow you to trade with very small positions which is a good place to begin in order to protect your capital.

As far as economic reports go a simple way would be to look at the calendar section on this site and you can see what reports have a higher probability of moving the market should the figure deviate from the consensus figure. The simple answer to what reports move what currencies is that US reports will affect the dollar and will have an affect on any dollar related pair that you trade. UK reports will affect any GBP pair, Canadian reports will affect CAD related pairs and Euro news will affect Euro related pairs.

If you are new to trading and especially if you are day trading I would not recommend initiating a trade before a major economic report.

Good luck to you.

Monaco

have you done some demo trading first before going live ?

Yes I have done demo trading, with GFT and Gain Capital.

Enjoyed it very much, feeling confident to go live now.

Yes I have done demo trading, with GFT and Gain Capital.

Enjoyed it very much, feeling confident to go live now.

The important question you failed to address is; for how long?

Demo trading for a couple days/weeks in no way qualifies you for trading live. You can do it ofcourse, but I HIGHLY recommend that you limit the account to a few hundred dollars or less. Unless you have been in this biz for about a year, whatever you fund your account with will more then likley be gone in a few days.

id stay away from gain and fxcm, and oanda is tough to trade during news time, they widen their spreads, i trade through cms and ami, i have no major issues with either of them, only difference is cms has a dealing desk, and ami is a "pass-through", so they dont care if you win or lose, unlike dealing desk, which for the most part is betting against you