Comments on: Is Foreign Currency Trading worth it, and does it work? http://www.myylt.com/2010/05/12/is-foreign-currency-trading-worth-it-and-does-it-work/ Discussion of Forex Trading and Currency Trading Thu, 24 May 2012 01:49:33 +0000 http://wordpress.org/?v=2.3.3 By: MoneyMonkey http://www.myylt.com/2010/05/12/is-foreign-currency-trading-worth-it-and-does-it-work/#comment-25253 MoneyMonkey Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2010/05/12/is-foreign-currency-trading-worth-it-and-does-it-work/#comment-25253 No. No. No. No. No. You can LOSE a lot of money. And you will be out the software cost. Only professionals should do anything along these lines. This is a really bad idea. Unless your father is paying for everything, and he has plenty of money he can afford to lose you should not even consider this venture. No. No. No. No. No. You can LOSE a lot of money. And you will be out the software cost. Only professionals should do anything along these lines. This is a really bad idea. Unless your father is paying for everything, and he has plenty of money he can afford to lose you should not even consider this venture.

]]> By: JP http://www.myylt.com/2010/05/12/is-foreign-currency-trading-worth-it-and-does-it-work/#comment-25254 JP Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2010/05/12/is-foreign-currency-trading-worth-it-and-does-it-work/#comment-25254 To make money on currency trading you need to work in large volumes. Often the margin of profit is 1%. Companies that do this need large reserves. What eats up to profits, is the exchange of currency comes with a fee. Shopkeepers in tourist areas --like Bermuda-- often find it cheaper to have the employees separate the US from the local currency before going to the bank. I suspect what will happen is you will be paying the company to stay in business. Is it worth it? Only if you have large amounts of money. Does it work? Not for small investors. To make money on currency trading you need to work in large volumes. Often the margin of profit is 1%. Companies that do this need large reserves.

What eats up to profits, is the exchange of currency comes with a fee. Shopkeepers in tourist areas –like Bermuda– often find it cheaper to have the employees separate the US from the local currency before going to the bank.

I suspect what will happen is you will be paying the company to stay in business.
Is it worth it? Only if you have large amounts of money. Does it work? Not for small investors.

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