Hello,

Is any body here working with prosignal or fxcm? I would like to go to forex trading with some company. I am brand new and I need to learn forex trading from someone. Any idea would be appreciated.

g'day,

I personally trade using marketiva and interbankfx, but i guess fxcm is a good choice as well. before you make your decision for a certain company, check their record (if available) at nfa.futures.org.

as for signal software: if you are a novice trader, i'd recommend against it, simply because even with signal software you must still have some underlying knowledge about forex trading, and what moves the market. imho, signal software is of interest if you want some sort of confirmation for your own analysis or trade on auto (if you trust the signals), but you should always analyse the charts yourself and question the signals, trying to understand them.

i can recommend two books: Murphy's technical analysis of the financial markets and Lien's daytrading the currency market. the first gives you very profound basic knowledge, and the latter has very interesting and appealing ideas and facts regarding the forex market. another good idea is to get some candlestick understanding as well as it is an excellent tool to supplement your analysis.

make sure you stay on top of the news - briefing.com, forexnews.com et.al. offer very good market overviews and news announcements, so do, naturally, all the brokers and companies offering you to trade forex. they often offer courses on forex trading or at least some sort of startup faq with dos and donts, warning you of the most common novice mistakes, and they usually also offer a trial account that lets you trade virtually. i recommend using such an offer in any case, as you need a bit of time to get used to each company's interface first, marketiva, fxcm, interbank, they all use different trading software.

good luck,

oz.

Moving topic to forex section

While you don't have to be a genius to trade Forex,
you *do* need to know the jargon and language.

If someone says to you (or writes in an advisory)
"go short the Euro at 11840 with a stop at 11905"
you need to know what that means, and be able
to place that kind of order.

If you were going to be a carpenter by trade you
would learn what a "square" is and be able to
talk the jargon.

There are lots of free ebooks as well as other
resources you can use to learn Forex.

try: Forex Resources

All the Best,

Hi,

What about those that offers to provide "Auto-Trading" accounts where you invest a sum into a trading account and they will trade and manage the account for you ?

Two examples :
--------------------
ProWin

Prosignal

Any comment or advise is welcomed.

Thanks !

davidctm