/biz/ - Business & Finance

Bumping, also interested in this. If anyone's got any good websites, books or just plain fucking infographics to try and learn a few things i'd appreciate the rec

http://www.investopedia.com/university/all/forex/

Friendly bump for interest.

>>954758
Also, I live in Canada.

Americans, time to buy CAD is now. It's worth 3/4 of the USD and one day it will most likely match again because that's the weed man tells us.

not good experience. i used it a year ago in a sort of gambling/depression thing and lost alot of money. learned some things about trading. but i'm doing well with other vehicles so it will be awhile before i trade forex

http://babypips.com/school

>>955198
This, this, this, this times a million.
Best and most comprehensive website on forex.

I've made a few practice accounts and honestly found em pretty easy. Never have had negative equity. I usually earn a bit then lose it most of it, then earn a bit more then. its a cycle.. Fxcm has good practice account configurations one with $2000 start (more realistic) and one with $50k start.

>>955198
>>955200

Thanks boys, I'll check it out

>>954772

The same goes for any commodity producing country, but you have to be selective. Nations with a freely convertible currency, low debt and huge natural resources are a no brainer. Australia, New Zealand and Canada.

If you're feeling lucky, you'd try your luck with buying the Russian Ruble if it ever got above 70 again.

Then you get into some really risky territory with Nigeria (huge oil producer) and other such third world shitholes.

>>954623
>Is it a worthwhile investment avenue to wander down?

yep, so long as you meet the following:

>not greedy
>not a panic seller
>know how to be patient
>know how to analyze graphs

>And what sort of requirements should an investor meet to consider forex trading in terms of capital & education?

start small, say a few hundred or thousand in your account, and develop it steadily over time from there. also,

>>955198
will become your favorite website.

>>955200
Yea just make to take the 'technical' analysis part with a huge truckload of salt. (e.g. ignore as most of it is certified bullshit)

>inb4 mathematically impaired babies crying it works

>>954623
Friendly bump, interested as well

>>954623
I'm trading on forex (mostly eur/usd) and cfd since about 2 years now, if you have specific questions, i can help you.
Concerning what you already asked : yes it's worth spending time in it. I have hundreds of books i can share concerning the subject, Most of them are in French though.

I'm thinking to start trading on Forex. I've read most of basics. There is a lot of information on the subject that confuse me. But If I'm correct, in reality, there is 10-20 fundamental principle that must know. What are those /biz/?

>>956651
What kind of basics did you read ? What confuse you ? There is principles for everything.

>>954623
most of the 'brokers' aren't actually brokers but are operating a bucketshop/market maker model - they are your counterparty and there are obvious conflicts of interest with this

some operating this model are less bad than others - oanda, for example, is one of the least bad of the bucketshops

as a retail trader you're probably better off with FX futures on the CME or LMAX or interactive brokers

the odds are stacked against you - it is unlikely you'll develop a significant edge trading a major pair, markets are very efficient and edges are generally small - if you find yourself making huge returns you're likely exposing yourself to too much risk and experiencing luck

lots of people suffer from confirmation bias

lots of people come up with all sorts of esoteric 'technical analysis' reasons for entering trades which are mostly bullshit - it isn't that price isn't relevant or can be used for forecasting but just that people turn to pseudoscience when they lack the level of numeracy/mathematical maturity to investigate forecasting in a rigorous way

tl;dr - most retail FX 'traders' are complete chumps and most 'brokers' are thieves

>>956659
Like opinions on indicators, use of stoploss, is it a gamble or not, shits like that.

>>956685
You seems to need tp read some informations about trading in general. Search for informations about it first and learn some terms. It would be too long and boring to explain what stoploss, takeprofit, etc... are while websites and writers have explained it better and more completely than i can.
Concerning the question : "Is it a gamble ?", it's the same thing, There's entire books about this question, the psychology of the trader, etc... but if you want a short answer : "Yes, it is a gamble"
I'll post tommorow some name of books you should take a look in my opinion, i don't have my shit with me.

>>955198
Thanks! looks like just what I need rather than a $5000 training "course"

>>955249
Sounds like sound advice. What about data feeds/trading platforms? What parts of this can be had for free, and otherwise what should I expect to have to pay for & how much?

>>956639
What's your strategy?