Other Has anybody used Forex

Discussion in 'General' started by yakyb, 7 Jun 2009.

  1. yakyb

    yakyb i hate the person above me

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    Hi guys im sure 1 or two of you here must have looked at forex at one time or another

    http://www.forex.com/uk/

    its basically a FOReign EXchange currency market allowing you to invest in different currencies around the world

    it has an excellent peice of software with it that i'm using ATM and allows a 1 month trial account letting you play with £50,000 to see how you get on before investing real money

    im currently trying to learn the basics (buy low sell high) of the terms used Pips etc if anyone has used this before / anybody is interested i thought it maybe worthy of discussion as its pretty interesting stuff

    screen shot of the interface
    [​IMG]
     
  2. outlawaol

    outlawaol Geeked since 1982

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    I had seen some of this on youtube. The 'auto pilot' is something people are going nuts over. Claims to not require really any input once it is setup and running. People have claimed some significant turn arounds, but its only as good as your choices of investments. Some where claiming $5-$20k in a few months.
     
  3. jhanlon303

    jhanlon303 The Keeper of History

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    Buy low - sell High?

    Damn dyslexia setting in.:wallbash:

    john
     
  4. fev

    fev Industry Fallout

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    dangerous thing to get into if you don't know what you're doing. However you should perhaps look at spread betting on football matches/F1 for more thrills.

    Less graphs too
     
  5. yakyb

    yakyb i hate the person above me

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    i like graphs

    besides i have made a good amount thus far on the GBP/USD

    maybe we should start a Bit-Tech Club £100 in and see what we get by the end of the month
     
  6. lex90

    lex90 Minimodder

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    I had played with it a year ago or so but lost my account. And i signed up again the day you posted this thread.

    LOL, they phoned me today asking if i had any problems with my trial account. I had used my real info incase i wanted to persue this FOREX thing, but damn, wasnt expecting a call from the US (I live in europe). Was on the phone with a guy who thought opening a browser and clicking on something was "Awsome!" and me finding a link was "Cool!"for 20 minutes.

    Think i might try out a mini account. Still trying to figure out thought, lets say for a mini account, you buy 1 lot of EUR/GDP. You have a 1:200 leverage, and standard a lot is 10,000 in a mini account. So really every lot is 50 Euro correct? So lets say i have a 10,000 contract in Eur/GPD and its gone up 20 pips. How much would i "really" have made, so how much would i get in my bank account.
     
  7. yakyb

    yakyb i hate the person above me

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    right thats why i wanted to start this thread because to be honest i'm really not sure , i figure
    if you bought @ 1.00 you would make 20% on your outlay so £10?
     

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