Posted: 7/28/2006 1:58:43 AM EDT
| Looking into this as a short term investment strategy. Who do you use? I checked out some of the FOREX forums and I swear it's worse than DU (think a lot of 4 year olds). |
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I've traded some for work since we buy foreign bonds and hedge it with the currency of that country. Be it long or short. Not sure that is what you are looking for. I have only worked at one place that did not have a currency desk where we had to go outside to cover our trades. At that palce we used JPMorgans currency desk to cover our trades. All other places I've worked at, we had our own currency desk that hedge our foreign bond positions. |
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Yes.... But still not very successfully. I traded demo accounts for about two years and a live account with a very small amount of money for about five months now, so you’d think I’d have some clue of what I was doing. Just goes to show how dumb I can be at times. I know what you mean though, some of the forums can be pretty bad. Personally I used Oanda (www.oanda.com) as my broker, they seem to have a pretty good reputation and I have been happy so far. Plus they use arbitrary lot sizing which allows for a lot of fine tuning when it comes to risk and exposure. Be aware though that they use their own platform that does not interface with MT4 so if you were looking to trade an EA to freedom it won’t work. You can however do your analysis on Metatrader and then execute trades via Oanda, which is what I do. If you are looking for a broker that will work with MT4 I can’t really help, though I have heard a lot of bad things about IBFX. They had a problem with dropped feeds a few months ago but they seem to have this fixed now. ETA: You can also trade gold and silver through the standard Oanda platform if you are interested. |
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Thanks paragon, that's a good site. I've been doing pretty good on my demo account. I'm up ~$600. I signed up for several FOREX online classes, it really helps with understanding the whole concept. Probably going to do 2 more 30day trials and see how it goes. I think I have a better knack of picking currency than I do NASDAQ. 
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