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Is it ok to invest $ 10K for forex trading?
account with USD 10,000 with oanda.com. However, after seeing your comments, I have stepped back and want to do a further study.
Do you suggest I shoudl be doing forex trading ? If yes, would you be kind enough to share any points I must be careful for?
thanks & regards,
When you new to forex trading, first trade on a demo for months/years.. And then you could start easy with 10k.. But if you looking for a good forex manager, i got one: http://www.managed-forex.biz i got an account with them and doubled my account this year
Forex is great to invest in but it is high risk so if you want to invest 10K make sure you know what your doing. Here are a couple tips. Demo trade for at least a year so you know what to expect as the forex markets can get volatile. Learn the trends and patterns. Do all of this before putting your real money on the line. Once you do actually start trading CONTINUE to demo trade. Always use demo trading to run tests(Backtesting and Forwardtesting) and then when you find something that works try it on your 10K with low risk. Remember forex is not about making money fast but once you learn you will start making money consistently and coupled with compounding and smart money management you will start to see your profits grow. Another option that has rise which I currently use is following forex signal providers. This is honestly the best way to get into forex from a investment standpoint as you can watch how other professional traders trade. Here is my hub on where I currently invest when I am not directly trading.
Please note that even following signal providers can be risky so keep your risk low and learn a system inside and out before you follow it whether it be direct trading or following signals. Currently I only follow accounts at Zulutrade that use there own money directly and not demo accounts. With 10K you could put your settings at 10 cents a pip and follow a little more riskier providers. I hope this helps and if you have questions send me a message I would be glad to help.
i think forex trading is the only way to earn money fast but don’t make the mistake of thinking that it is easy and you will be earning a lot of money within few days.By trading on demo account for years you will be able to trade but Like any other profession you need a solid education and experience before you get started. After all you are planning to earn more money than all the professional who gave their almost 20-25 years in education.Some new bees think that they don’t have to learn anything. They believe a magical system or abc software is enough and it will trade for them and make them rich while they are sleeping. Or rely on some trading guru, tradings calls and follow them blindly without knowing the market.If you want to invest $10000 that is no problem if you giving few years to learn but a forex fund manager who trades on behalf of you and you also have access to that account will be ok for you.........
The question is not how much you invest. The best way to safeguard your money and still earn on Forex is trade with as little as 1% for each position and unto 5% on all positions together. Thus you are saving 95% of your margin money and risking 5% on positions..
However are best predictions and best understanding of Forex, it is speculative and risky. The above method is the safest.
Remember two points.
1. Any currency value over a period of time increase.
2. No country will will willing to devalue their currency or to see a abnormal growth in their currency value
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