Comments on: Forex trading…how much % Chances are there?

By: Robert D

Robert D — Tue, 30 Nov 1999 00:00:00 +0000

Forex trading is a good way to lose money. You will need to pay for each transaction plus how do you know when to buy and sell?

By: Beast from the East

Beast from the East — Tue, 30 Nov 1999 00:00:00 +0000

I have lost almost $1500 till date, trading EUR/USD and I am trading on and off since the past 7 years. I am still not a good trader. Maybe one day I will start earning but it is like an addition. If you trade the forex, you become forexaholic.

If you want to trade to have fun, then do trade. But I would not recommend it for bread and butter.

Stock Markets are better than Forex.

By: jason

jason — Tue, 30 Nov 1999 00:00:00 +0000

I lost 3k last year trading that market. Fortunately for me a friend of mine told me about this private Forex investment club that he was into mid this year. I checked it out, talked to the club managers really liked what they were doing and I applied for one their plans. I invested about 2k and now I`m making really good returns from them.
`The moral of this story is don`t trade if you don’t know what your doing find a good investment club and toss your money too the PROS.

BTW for those of you who are interested in that investment club i`m in here is the link to their website. Its hard to get in the club unless you have a referrer if you need someone to refer you let me know. Or just apply
http://www.globalforexfm.com/2009/10/client-brochure.html

P.S. Read their brochure a lot of insightful information for traders and non investors.

By: Joe

Joe — Tue, 30 Nov 1999 00:00:00 +0000

Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.

Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. Particulary suspicious are private Forex investment clubs, which are usually scams. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.

I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

By: forex expert

forex expert — Tue, 30 Nov 1999 00:00:00 +0000

Forex trading is best way to earn money online short term u can learn more at following site
http://www.ramizfx.com

By: Kevin S

Kevin S — Tue, 30 Nov 1999 00:00:00 +0000

Can anyone give me information about forex trading? - yes. You can learn about it from places like investopedia.com, thismatter.com, your library, forex brokerages, and many other places.

Can I apply online through forex.com? - yes. They are tons of forex brokerages just like there are limitless stock brokerages. Oanda fxtrade is my personal brokerage.

How useful is it? - depends. You are competing against the professionals and largest banks in the world, so your success depends entirely how good you are. Let me stress again that your success depends entirely how good you are, and you are competing against people that are likely smarter, more educated, experienced over decades of full time work, and have access to greater funds and resources than any of us here.

other websites? - just search for forex brokers. Other ones are thinkorswim.com, interactivebrokers.com - really you would be surprised.

Best of luck.

By: David W

David W — Tue, 30 Nov 1999 00:00:00 +0000

There is no substitute for learning how to trade, I recommened developing a trading system that is right for you http://www.myforexdot.org.uk/ForexCurrencyTradingSystem.html rather than buying one.

Here is a link to some articles http://www.myforexdot.org.uk/Articles.html

By: DW

DW — Tue, 30 Nov 1999 00:00:00 +0000

How much you can make depends on your risk tolerance. If you start with $2000, for example, you are much more likely to lose it all than you are to turn it into $20000. Remember, 95% of forex traders lose money. Babypips.com is good website to start to learn about forex. Also, try to read every book on Forex you can lay your hands on. Start slow. It is better to win just a few dollars at a time with a small lot, than it is to risk losing a lot of money by trading large lots. And you need a find a system that works. The system that works best for me is to use no stop loss. That’s right, no stop loss. It’s actually very simple, Just start with the smallest lot possible, find a low entry point (i.e. not at an all time high), and add to the position if the position turns against you, e.g. buy another lot of the same size when you are down 100 pips, another one when you are done -200 pips, etc. This is called dollar-cost averaging and applies to stocks as well. The market will eventually reverse course and you will be in the profit range again. It may take hours, days, weeks, or even months, but you just have to be patient. For the forseeable future, it is probably safest to bet against the US Dollar, ie long EUR/USD, short USD/JPY, short USD/CHF, short USD/CAD, long AUD/USD, long NZD/USD, etc. Just look at the charts for the past decade. The dollar is in a long term decline. Likewise, it is safer to long stocks, gold, silver, etc. against the dollar, but try to find a low entry point to eventually sell high. Hope this helps! Happy trading.

By: Gigi

Gigi — Tue, 30 Nov 1999 00:00:00 +0000

If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.

Marketiva gives you 5$ real to start trading so you don’t have to deposit and if you made profit from it you can cash out, this is why it’s very good for beginners. Their platform is very easy to use and they have support during trading hours.

To open your account please visit http://www.marketiva.com/index.ncre?gid=3371