Shufang
08-10-08, 02:10 AM
I think this question would be beneficial for everyone :cool:
"Hi,
In homework tutorial 1, we r supposed to open an optionsXpress account.
Just wondering why is that so, since that is for trading stocks/options/futures and not forex.
Regards,"
Hi,
yes you are right, you do not need optionsXpress as it is for stocks and options. However, if you are seriously starting on trading forex intra-day, it would be good to be familiar with the intra-day movement of the S&P and DJI.
Furthermore, you can do the daily S/Rs on your S&P and DJI too. Like that, you can use this information to assist you in your intra-day trades.
If you have accounts with other stock brokers like thinkorswim, that is fine too. These 2 have nicer charts, be aware of account maintenance fees!
cheers,
shufang
"Hi,
In homework tutorial 1, we r supposed to open an optionsXpress account.
Just wondering why is that so, since that is for trading stocks/options/futures and not forex.
Regards,"
Hi,
yes you are right, you do not need optionsXpress as it is for stocks and options. However, if you are seriously starting on trading forex intra-day, it would be good to be familiar with the intra-day movement of the S&P and DJI.
Furthermore, you can do the daily S/Rs on your S&P and DJI too. Like that, you can use this information to assist you in your intra-day trades.
If you have accounts with other stock brokers like thinkorswim, that is fine too. These 2 have nicer charts, be aware of account maintenance fees!
cheers,
shufang