Good morning Shane, your up early today.

from what i know of currency trading, ou relaly need to know your **** and have huge set of balls.

its high risk and you need to move signiican;t amount of money to make profits. YOu re generally exploiting very very small differences in price but if you are trading enough $ the small raise or drop can net some good returns.

a friend of mine is doign bond arbitraige (spelling???) out in cali and making pretty good returns. They exploit the historical gap trading between the 5 and 10 year treasury notes. Its fully model based trading and he's been claiming that te risks score (i forget teh name of teh scale) i slower tan teh sp500 (if say you were trading a tracking stock of it)

he's making decent money for people. I think you gotta start out with 25k though

Shane is right, if you are prepared to lose 100% of your money, trade long call and put options on futures contracts.

If you are willing to lose 5 or 10 times the original amount you started with, trade futures or any of the bucket shops margined contracts. Also, in the case of the bucket shops, be prepared for a large man to show up at your house with a lead pipe, requesting you sign your house over to him due to your market loss.

If you hedge your legit futures contracts with options, the above horror story likely won't happen, but it is for sophisticated investors only and any mistakes will bite, badly.

Start off by doing some homework. Many (most?) investment books are garbage, but there are several good ones for people interested in high risk speculation.

Read Market Wizards, interviews with top traders I & II.
By Jack Schwager.

The Futures Game, Who Wins, Who Loses and Why. Teweles and Jones.

Take online currency futures classes offered by the Chicago Mercantile Exchange www.cme.com & read Technical Analysis of Stock Trends by Edwards and Magee. John Murphy's technical analysis books are also good.

Then there are intensive multiple day classes offered by firms through the NYIF designed to prepare MBAs and prfessionals for a career in the markets. Expect to pay dearly for these.

A great place to start exploring currency trading is at www.tradersgame.com It is free and very good.

Thanks for all the suggestions CBR, I am going to explore them all

I have learned more in since I posted this than I have all week by trying to use the pro's that I know...Thanks guys

No RISK, No REWARD. Weigh your options and only gamble with what you can afford to throw away. I believe it is more luck than skill, but you should understand the basics to make your best "guess", Good Luck!

I have been donating about $15k a month to the casino so I figure why not be more constructive with the funds. This is the first Sat that I did'nt go in a few months. Maybe I just need a new hobby for the winter months

and your worrying about springing for a new outerlimits?

105 i;ll mak eyoau deal,

ou stop gambling, give me 5k a month and first class plane ticket to cali, i'll fly out there, kick you in the nuts and we'll call it even!

Hey Puder, you're not the first one to offer me that deal

I go once and take $500 with me and leave with $7k-$9k, next week take $2500-$4k and leave with ZERO

I have just been going out of habit lately, other people inviteme and I can't say NO!!! I am just use to being a hardass all week that on the weekends I am a pushover

Ok, here are a couple more suggestions: Lind-Waldock.com permits you to open a sample brokerage account online and place "paper futures and options trades" for a month or so. You can find out if your account balance at the end of that period indicates whether you should stick to Vegas or not.

Good luck!