Your Questions About Forex Club

Charles asks…

FOREX Trading in Chicago, IL. USA?

Does anyone know of a FOREX trading group or club inside Chicago, IL.? A group particularly centered around www.forex.com , www.fxcm.com or/and www.forextv.com

kenspong answers:

Check out this group here.
Http://forextrading.meetup.com/39/?gj=sj2
They have about 121 members in Chicago and meet monthly discussing Forex. You can make quite a few good connections here.

Good luck.

Joseph asks…

Do you have any information about FinanzasForex- Finanzas Forex?

Hi, I heard about a investment club called mytirn- tirn, is there anybody that can give me more information about it?

www.forex-market-info.com
admin@forex-market-info.com

kenspong answers:

No! It looks like scam! So we cant give you any information about it because there is no information! Maybe try to search in Google…

Donna asks…

Forex live trading rooms?

Has anybody had any experience with forex live trading rooms? Iv seen people talking about this where it’s like a club I guess with a membership and you watch a ‘professional’ trade live and see what they’re doing on the screen. They claim to be fairly successful and some offer a week or so free to let you see how it works. Any thoughts on this would be appreciative. Thanks

kenspong answers:

It does help watching and copying a successful trader or a person. Is your learning quotient (ability) too high, if its not then you might have to watch him again and again, because he will be too fast and you might miss a lot of small connecting dots.

Helen asks…

In your opinion what is a better way to trade currencies for a living; spot-forex or currency options? Also…?

I am 18 years old and I have been practicing spot-forex trading for several months now with FX Club and I am quite good at it and have learned a lot about currency trading from my demo account and some books and internet article sites on currency & options trading. Its become my passion actually.

I also know something that actually is a secret to FX trading success; the trends are usually long term, lasting from several months to several years meaning you are best to trade for the long term on currency pairs to enjoy the ride of making money. You can’t do this with spot-FX because you are trading on margin and if a trading position is left open too long, you will be wiped out within so long.

What I would like to know is if currency options trading is a good way to trade currency by simple vanilla call & put options as I know that spot-FX is essentially a mugs game? Also is there anybody out there who trades currency options for a living at all? Also, what is an easy to use currency options trading brokerage that can be used by a UK based investor? Please help advise. Thanks.

P.S. Sorry my question is too long.

kenspong answers:

If you want to trade forex, you need to trade futures. If you don’t have enough money you need to save the money while doing something else while learning more about forex and then trade futures. Once you are able to trade futures you could add options on futures if you wanted but you do not need to do that. Generally speaking successful option trading is more difficult than than trading futures or stocks. Options are never simple vanilla.

Linda asks…

Whats the best online forex trading broker in your opinion, and why?

I have an interest in trading forex as I’m quite good at it. I have tried out easy-forex but don’t like their spreads as they are too wide, I have been practicing using FX Club and have made as much as 500%+ return in a month, but I’m not sure. I have even tried practicing spread betting forex and have made as much as 400%+.

I want to know if there is a better forex broker out there that is a good forex broker that lets you take advantage of up to date news, charts and is easy to use, doesn’t have spreads and charges commisions only. Also one thast can be used by a UK resident. All help would be much appreciated thanks.

kenspong answers:

Dude stay away,

you can lose 80% in one day just as easily.

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