Day Trading

There are many different kinds of Forex Trading Systems and you need to know a few facts as mentioned below, before choosing and funding a system.

1. Testimonials: Is there anyone out there who is trying to sell a system and show you testimonials from the people who actually didn't like the system? Highly unlikely. You should do proper research before indulging into a system that is completely new to you.

2. Profit: Do you want to work with a Forex Trading system that breaks even? Why? If you keep the money in your home, you will still break even, then why take all the hassles of setting up an Forex Trading account and do all the work. Really speaking, you should always do some research on how profitable a particular trading system is?

3. Drawdown: The maximum drawdown of trading system is defined as the greatest peak-to-valley drawdown in a trading system’s equity. Maximum drawdown gives us a measure of the survivability of the trading system.

4. Time to profit: The actual time it takes to achieve the results with a particular trading system. You should plan to have a long and profitable relationship with your trading system.

Try to use a trading system that let you open a Demo account so that you can practice and learn about Forex Trading without risking any money.

I have tried many of these systems in my quest to simplify my trading experience. I personally have found FreedomRocks to be the system that has worked for me. I have found no bad information on this system from anybody that has actually used it. I have found many skeptics and bashers but nothing from those that have actually tried at least the free trial they offer.

Below are a couple of links I have found in my travels around the web:

http://www.yourforexinvestor.com

http://www.babypips.com

Now as far as how much money you would need to gat started I have helped people get started with amounts ranging from $500 up to well over six figures. If you would like I could send you a spreadsheet of how to get started right with just $500 invested on a monthly bugeted basis. The spreadsheet will show you how that investment could easily grow to well over $240,000 within 60 months! Feel free to e-mail me and I will get that right over to you.
bjwells@yourforexinvestor.com

To Your Success,
Brandon Wells
877-773-5345

You can start learning by vising free websites like http://www.freeforexebook.org/ , http://www.forextopten.com/ , http://www.topforexeducation.com/.

http://888options.com

You can also find out a lot more info about trading and options on these free sites which are recognized by Y! A as "Knowledge Contributors"

http://investopedia.com

AND

http://yahoofinance.com

As far as "day trading" is concerned:

THE BIGGEST challenge is having $25,000 CASH on-hand in a trading account at all times. This does not include any trades or positions. This is cold, hard cash.

Once the balance goes below this, certain restrictions are instituted.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

There's not really a big problem in beginning to daytrade, but you need to be cautious. I'd advise you read this http://www.nyse.com/pdfs/im01-9Microsoft%20Word%20-%20Document%20in%2001-9.pdf

Then, you may want to continue paper trading, but you can trade for real if you set up strict losses. When I kick up my live account, I will close all my positions immediately if I lose 20%. Then, I will go back through my journals, the charts, and more paper trading until I get it right.

You can get all expenses lists from the individual sites under their fees + comissions and/or pricing tabs. If you are unclear of what they all are, just email the brokerage (I did this with several of tradeking's fees). You will need to get used to emailing and contacting people and services you will use or look into. Half of the battle of trading is finding everything you need — brokerage, information resources, software, data feeds, etc.

I've probably spent about half my time doing those kinds of things.