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Which managed forex trading is good in USA?

4 Answers

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  • Rocky
    Lv 4
    9 years ago
    Favorite Answer

    FXCM.com is the best. I have been trading there for last four years and have no problem. Their trading platform is the best in the world. I tried MT4 platform but it is not that good. You can even trade $ 1.00 with $ 50.00 deposit which no other site allows you. I don't trust those sites which give you $ 10,000.00 against $ 100.00 deposit. If market goes against you by few pips you loose more than $ 100.00 and they take out the balance amount from your Debit/Credit Card. Always trade with your own money. Don't trust them who offer you $ 10,000.00 against the deposit of $ 100.00. Don't use trading robots. Robots work only when the market is smooth. But when it makes unexpected moves it stops working and instead of winning you loose money. Few more advices -

    1. Choose the right currency pair suitable for you. It is better to choose that pair which moves slowly because you can control your losses in time when the market goes against you.

    2. Don't pay much attention to how much you can win. Pay more attention to how much you can loose and learn to stop your loss in time.

    3. Choose the right time for trading. Currency market is open for 24 hours from sunday 5 p.m. to friday 5 p.m. but it doesn't mean that you can trade any time. Different currencies pickup at different times in a day. It depends what currency you are trading and where you live. I mean the market timing for that currency and your trading time should match.

    4. Don't forget to put the stop.

    5. Always trade with the trend. But remember that trend is different for different time frames. Daily chart may be showing that market is going up but in reality at this hour it may be going down. Therefore first decide the time frame you want to trade and stick to it till the end of that trade. For next trade you may choose another time frame. But never leave the time frame until your trade is over. However you may look at other time frames for guidance while trading in one time frame. This is called using multiple time frames. But using multiple time frames for reference doesn't mean that you change your mind again and again to shift your trade from one time frame to another. This will confuse you and of course the result is you loose money.

    6. Always keep enough leverage to sustain the market moves against your trade. How much leverage to be kept is a thing you learn by experience. It depends on what currency you are trading and what time frame you are trading with. Lower the time frame less the leverage and vice versa.

    7. Learn to use a set of two, three indicators in combination. Which indicators to use is a thing you learn by experience. Use only those indicators which are suitable for you. Using too many indicators at a time will confuse you and it will only increase your losses. However before you select your set of indicators it is better to use each one of them for certain time independently and see if it works for you.

    8. "No revenge trading" is the key for success. People loose more money in that than regular trading. Revenge trading is that trading when you trade revengefully to makeup the loss. My advice if you loose keep cool and don't trade for some time. May be for an hour or a day or even for a week. Remember market is always there for you to trade even after a month or a year. But don't enter in it unless you are cool.

    9. There are many Vedio on You Tube which teach you forex trading and how to use indicators. Watch them as frequently as you can and lean from it.

  • Eagle
    Lv 4
    9 years ago

    Hedging is not allowed in USA. Register yourself with an Agent from Europe or Asia. FXCM has offices in USA as well as in Europe and Asia. Better to register with FXCM UK. I suggest first you watch forex Vedio on you tube. Open a Demo Account for learning forex trading. Open multiple charts from one minute to one hour (One Minute, Five Minutes, Fifteen Minutes, Thirty Minutes and an Hour Chart). Watch how price movement is shown on each of them. Day and night any time when you have a time to watch it. Watch the movement and swings of different currencies. Watch when the price makes U Turns. Note down the day, date and time of Price Reversals. You will notice that there is a set pattern for each currency. Sometimes it goes off the pattern. But soon it returns to it's original pattern. This is where people loose money. You have to have patience and enough leverage to sustain those out of way moves. Don't spend money on Forex Classes, Forex Software or Forex Robots. You are the best Robot in the world. Instead of spending money on these things spend your time and minimum amount for learning on your own. Always trade with your own money. If someone is offering you $20000 against a deposit of $100 it is sure that eventually he will take $5000 or $10000 from your bank account. Remember these big companies hire experienced Lawyers for recovery purpose. And they will not leave you till end.

  • 9 years ago

    Before you do this google

    Forex Scam USA

    This way you can know what scams are out there first.

  • 9 years ago

    Scottrade is also a good platform for doing trading. They are reputed as well.

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