Thinking of getting into the Forex market

[sportsfan]

I like the idea of the 24 hour and short term trading. Anyone have any experience in the foreign exchange market? I am playing with a practice account and reading up on it now. I see a lot of people trade on news releases I think I might fade them as part of my strategy.

[Henry09]

yeah I played around with a foreign currency exchange account as well. good fun.

Jeromefromthesoutheast was into the foreign exchange market but haven't seen him post in awhile.

[ebertc]

Just started a practice account myself but this I know: Long-term = short the U.S dollar.

[sportsfan]

cool guys maybe whe can start giving each other tips. I am still trying to get a "feel" for the markets but I will find my niche soon. That's when I will put my money where my mouth is.

[Romanowski]

only way to trade forex is technical

pick up a book on basic candlestick

also remember u can trade NY, London, or Asian

but after hours wont do you any good

[rjb1816]

bad news imo...don't have the regulations that US market does...good way to get burned badly

[sportsfan]

I understand that the Forex market is a very risky proposition and the vast majority of private individuals who try it lose, but that is what draws me to it. Much like gambling there are two sides to every coin, if most are 90% losers that gives the opportunity for some to be 90% winners.

I do not understand what you mean by "afterhours won't do you any good". I understand the reason it is open 24 hours is because you can trade NY, London and Asian.