3SOF

Forex is currency trading with "supposedly" 1000% returns!  I'm going to a seminar that I saw on TV.  Seminar is Tues.  Any successes?  Warnings?  Thanks in Advance!!

Yes, here's a forex warning:

For every winner, there is a loser.

Take that one at face value, and realize that your competition is made up of banks and professionals.

That's honestly fantastic advice. If you want a rush (lots of risk), check out penny stocks. From what I hear, it normally takes lots of extra capital to trade currencies.

http://www.tradestation.com/fees/forex_trading.shtm
here is an example
i have another broker friend who can give you an account with nice chart software and spreads for 2,500. 100x margin
you can make big money sure but just like ramsburg said you need some cash as a backer. or you could get stopped out extreamly fast only to see it rebound just after your position. But they will send you a nice email stating yoru account has been closed out due to margin restrictions. Have a nice day.

Hi golfqtee,

I was going to get into it myself and may still do it one day..but really, you need at least $2000 in your account with a 200x leverage to be able to trade effectively...and $5000 is better. 
Best you start yourself out with a demo account just to see what its really like.  FXCM.com has a good one i've used and practiced on...its free for 30 days...then make a decision if you think you're ready to use real money. It can be tricky...and the more practice and more strategies you try will help u understand alot of the volatility experienced in the currency world.

If you're canadian you can try refco.com's forex platform...actually FXCM is a subsiduary company of Refco....so the platforms are identical.
Anyway, there are many forex companies that offer free 30 day demo accounts...just like the real thing.

good luck,

julia

Thanks everyone for all your good advice!  Believe me, I'm taking it!  I don't think I'll go to the seminar because I know me!  They'll suck me in!  I think I'll try the practice thing for a while if I can drag myself away from my penny stock DD.  I love the pennies!!  some, I love too much!  Can't fall in love with the stock.  I figured I wouldn't fall in love with the currency thing, but I have listened and learned here!  Once again, thanks to all for your advice!  Good luck in the market today!

Suzi
La Quinta, CA

let's go golfing sometime   i'll explain the intricacies of the forex