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I have 2000 USD what could i do?

  • #21
  • Jun 10, 2010 1:34am Jun 10, 2010 1:34am
Quoting EasySt
Personally I try to think of it in terms of pips first, actual dollars second. As someone else here suggested, the best way to do that is probably to build it up slowly.
pips mean nothing.

It's all bout ROE and $$$ (with risk management in mind)
  • #22
  • Jun 10, 2010 2:12am Jun 10, 2010 2:12am
Quoting fxdanny4x
pips mean nothing.

It's all bout ROE and $$$ (with risk management in mind)
Risk/Reward, MM, ROE yada yada can all be expressed in pips and units. But if you need to count pennies as pennies and treat them different when (if) they become dollars that's your choice. For me, if I can conquer treating everything as pips whether they are worth 10 dollars or 10 cents then feel it helps keep the emotions out. YMMV.
  • #23
  • Jun 10, 2010 7:21am Jun 10, 2010 7:21am
Guys, thank for the answers, i decided continue with micro account, what does it menan ROE? ;-) thank
  • #24
  • Jun 12, 2010 7:27am Jun 12, 2010 7:27am
Quoting petertrader
Trad3r,

i have doubt about these ECNs brokers with initial deposit
MBTrading (400$) and Dukascopy (1000$) I think they are both MM thats my oppinion.

All,

I want to try Oanda, but i need to see some prospect of it. Is here someone who got rich with MM broker (at least who save up money with this broker to ECN broker)

Generally, are MM brokers worth to trade with them? :-)

(btw. sorry for my english)
Go to Oanda. FX Solutions (as somebody else recommended) has hideous spreads. Only problem with Oanda is news trading as the spreads widen but you don't really want to be trading news anyway unless you already have a position in the market. Also spreads are larger at Oanda on open of market on Sunday/early Monday. You can place any size trade you want at Oanda - even 1 unit if you are testing strategies. I've been trading with them for 9 months and have never had a problem. Just a couple of examples of spreads - Oanda AUD/JPY - 2.1, FX Solutions - 7, Oanda AUD/NZD - 5.5, FX Solutions - 20.
Nothing worth having is easy.
  • #25
  • Jun 12, 2010 7:58am Jun 12, 2010 7:58am
Open a micro account with $ 500! So instead of blowing a $ 2000 , you only blow a $ 500. I am serious , mark these words!!
  • #26
  • Jun 12, 2010 6:33pm Jun 12, 2010 6:33pm
Quoting Patience
................Only problem with Oanda is news trading as the spreads widen but you don't really want to be trading news anyway unless you already have a position in the market. Also spreads are larger at Oanda on open of market on Sunday/early Monday.
Yea, those spreads can be quite large off hours as you mentioned. The other day I noticed E/U spread was somewhere around 5-7 pips. I think it was during the Australia sesson. I haven't really paid attention during new announcements but I will make of point of doing that next time.. So if someone trades off hours Oanda is probably not for them.
  • #27
  • Jun 12, 2010 11:18pm Jun 12, 2010 11:18pm
You could buy a bottle of 12 year old single malt scotch and get a high end hooker. It'll be memorable than blowing it all trading Forex.

Another option would be to demo trade and use the 2k to start a savings account and build it up to 10K or more. Don't bother with commodities unless you have 25k.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #28
  • Jun 17, 2010 5:40pm Jun 17, 2010 5:40pm
Quoting EasySt
Sorry but I gotta disagree with most of this. I think paying someone to teach/mentor you about forex is about the worst investment you can make. You can get the same information for free. If you have money to burn then sure but otherwise I think it would be better spent on actual trading which is were the REAL education happens.

Besides, I always come back to the same question. If these so called experts are so good at trading why do they need to run a business charging people money?

I always come back to the same question myself too. If a pilot is so good at flying why does he not just stick to flying planes instead? if an attorney is so good at being an attorney making gobs of money why should he teach at a university? I see a double standard here. your argument EasySt is like that of a child, it has too many holes. It does appear that you were born yesterday.

for example, if a person opened a business without prior experience, is it sensible for that business owner to expect his business to flourish? unlikely, many mistakes will inevitably be made because the business owner is IGNORANT of many facts.

the chances are greater that the business owner who procures the services of a business consultant will have greater success than a business owner with no prior experience who seeks to go it alone.
  • #29
  • Jun 17, 2010 11:45pm Jun 17, 2010 11:45pm
You should open up a practice account with $2000 dollars and use it until you get the hang of trading Forex. Then do exactly what you did with the practice account only with real money. Just make sure emotions don't influence your trading and you'll be fine.
  • #30
  • Jun 18, 2010 1:09am Jun 18, 2010 1:09am
Quoting james25541
You should open up a practice account with $2000 dollars and use it until you get the hang of trading Forex. Then do exactly what you did with the practice account only with real money. Just make sure emotions don't influence your trading and you'll be fine.
You cant simulate trading with fake money. Better to deposit real money but a smaller ammount, and trade with micro. There is a BIG differends (psyche) even on micro vs demo
  • #31
  • Jun 18, 2010 11:25am Jun 18, 2010 11:25am
I'm a beginner just like you.

Right now I'm trading with my demo account and I'm keeping the money which I'll deposit on the real account at the bank and adding some money on it every month. I think it's the safest bet. I was very impatient at first and wanted to start with real account right away but after thinking the whole thing a little bit I decided not to risk the real money right away and get accustomed with the demo account at first.
  • #32
  • Jun 18, 2010 12:07pm Jun 18, 2010 12:07pm
Quoting petertrader
Thank for all opinions, but i am pretty advanced rookie , i have some backtesting, papertrading, education and some live trades passed already. Now i am with Alpari(UK) but i have only micro account. I am earning quite low ammounts,...
Keep away from FXopen
  • #33
  • Jun 18, 2010 3:08pm Jun 18, 2010 3:08pm
What's wrong with Alpari?
  • #34
  • Jun 21, 2010 2:08am Jun 21, 2010 2:08am
Quoting DanUK
What's wrong with Alpari?
Alpari is pretty good broker, but generally i have doubt about MM brokers. I need to build up my small account to 5k or 10k as quickly as possible and change MM to ECN broker. ;-)
  • #35
  • Jun 21, 2010 4:54am Jun 21, 2010 4:54am
Quoting fxdanny4x
Leave it in the bank. Go get a job, and come back when you have 10K to invest.
And that 10k you must be able to afford to lose.
  • #36
  • Jun 21, 2010 4:55am Jun 21, 2010 4:55am
Quoting Darth Vader
Keep away from FXopen
Yeah whatever, I'd say keep away from Anakin.

You know nothing about FX Open, they are a decent broker. I've been with them for ages, and have nothing but good to say about them.
  • #37
  • Jun 21, 2010 8:26am Jun 21, 2010 8:26am
I am interest only in FX, so i dont know much about other markets.

What do you thing about market NQ (emini Nasdaq) is it negotiable from 2K? Or some emini markets? ;-) sorry for the dumb
  • #38
  • Jun 21, 2010 6:45pm Jun 21, 2010 6:45pm
There are some futures brokers that will allow you to day-trade the indexes with $500 margin. You can get free MT4 charts of NQ, ES, YM etc on BroCo.
  • #39
  • Jun 22, 2010 9:46am Jun 22, 2010 9:46am
You could demo trade until you have more money to invest in trading, and/or a couple months to a year worth of experience demo trading. If you can stay profitable demo trading: Go ahead and invest. Trade your demo realistically. If you are planning on investing 2000, start a demo account with only 2000 in it. Treat it like real money, see if you can double it or more, and then maintain a positive and increasing balance for about a year.
Thank you Lux!
  • #40
  • Jun 23, 2010 2:06am Jun 23, 2010 2:06am
Quoting Kenz987
There are some futures brokers that will allow you to day-trade the indexes with $500 margin. You can get free MT4 charts of NQ, ES, YM etc on BroCo.
Kenz987, where can i get these free charts to MT4? probably i dont know to search... :-/
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