Why Doesn't everyone trade forex like these guys at http://whytrading.info?
http://www.whytrading.info
Most Commented Posts
- August 8, 2008 -- Should "In God We Trust" Remain On American Currency? (41)
- February 26, 2009 -- Xtian: What right (specifically) would be violated by removing "In God We Trust" from US currency? (41)
- January 27, 2010 -- Do conservatives invest in gold because they have no faith in American currency? (37)
- November 24, 2008 -- Is “In God We Trust” on US currency a true statement? (35)
- January 3, 2009 -- Should the motto “In God We Trust” be removed from U.S. currency? ? (34)
- March 17, 2009 -- R&S what do you feel about "One nation under God" on US currency? (34)
- April 21, 2009 -- What would be the impact on American society if "In God We Trust" were removed from the currency? (34)
- May 7, 2008 -- Who else thinks that "in god we trust" should be removed from US currency? (33)
- January 9, 2009 -- Are coins and currency the same thing? (30)
- March 8, 2010 -- If your good looks were currency, what could you buy? (30)
This entry was posted on Monday, January 19th, 2009 at 6:50 am and is filed under forex trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
January 19th, 2009 at 6:50 am
Because Forex requires a lot of money to make a reasonable profit and you have to understand the things that change the price of money between countries to be able to buy and sell currencies.
January 19th, 2009 at 6:50 am
Forex is corrupt. I practiced traded and never lost money. I started real trading and almost lost it all. However, when I was trading very small sums amazingly I was making over 1000% gains. Then I went back to trading big sums and lost it all. The swings can wipe one out in one day even though your overall trend is correct. "These guys" probaby using very little margin or are just using paper trading.
January 19th, 2009 at 6:50 am
These guys are smart, but anyone can do what they've done so far and accomplish similar results with a little luck.
Several red flags:
1. Their live trading results were only for the past 3 months. If they're so good, why can't they show results for more months.
2. Their trading strategy is flawed. If you study their trading statements closely, you would see that they don't use a stop-loss when they make an entry. However, they would lock in profit with a stop-loss after the trade has made some money.
3. They can blow out their entire account in 1 bad trade.
4. Their initial balance was 3000 something. There's a really good chance that they're left w/ 3000 from blowing up their account the first time around.
5. Their strategy can be extremely profitable, but only trade with money you can AFFORD to LOSE.
6. I say there's a 5-6% chance that he will blow his account on every trade he makes, but it just hasn't happened yet.
7. Assuming their average return per trade is 10%. If you put 10,000 in there and let it compound 50 times at a rate of 10%, you will have $1,000,000+. However, If you had made $500,000 using his strategy, all you need is 1 bad trade to lose all $500,000.