I am very new to investment. But since I have strong interest in the financial market, I decided to use 0 (the amount I can let go if I fail) and lean from actual trading…
… OK, I really want to make some money.
I thought I would do stocks, but since I have to pay -13 commission through online brokers, 0 initial deposit will go away pretty soon. And I want to start making money fast. So, I am now thinking about foreign exchange.
There are terms that I do not know. Would you please explain what Spreads and Pips are?
If I use online trading like FXCM for USDJPY, how much are they going to charge?
Which currency has the most return (most risk)?
I want to know your experiences.
I know I sound stupid because I do not know anything. I am sure many of you will say to put the money in CD or mutual fund. But I am looking for a way to make money instantly.
Thanks for your help!
{ 1 comment… read it below or add one }
I first want to commend you for already realizing one of the most important elements in trading Forex…..only risk money that you can afford to lose.
A few of my students are using micro accounts with GFT and this may be perfect for an account the size of yours.
I like to utilize conservative strategies that reduce market risks, generate an interest payment everyday and minimize the amount of time it takes to manage one's account (about 30 minutes per week).
I have two suggestions for you….first spend some time at babypips.com for some very good Forex information presented in a very enjoyable format. Second, I would be happy to send you an investment guide that will explain a couple of the strategies that I use. Just drop me an email.
Best wishes for your success.
Paul Upp
(925) 236-1839