Is Forex Trading Profitable?

Question

I have been looking at different forex trading courses like the one at www.forextradingcenter.info and was wondering if anyone out there has any experience with this course or something similar.

I would also like to get feedback from people on if they have any advice on if trading forex can be a good thing or not.

Answer 1

You can let someone else trade your money for you, like Gary here, in any business. Just make sure they have at least a year of actual historical trades, not theoretical ones. He advertises how well he's done in the last ten days.

Your question "Is Forex trading profitable?" should probably be rephrased, "Is trading profitable?"

Trading is very difficult, requires a good system, good timing, good execution skills, and nerves of iron. And so, it requires a certain amount of knowledge and work and experience that few people are willing to put into it. They just want to "get rich quick" on huge leverage, and 80% of traders blow out. If you're just after the money, and aren't excited about the "process" of trading, you will tire easily and quit, probably at a loss.

If you have good "trading" skills from trading stocks, you will probably be able to learn to trade anything, including Forex. If you have never traded before, don't know anything about risk or money management, then the leverage will kill you until you learn.

Any professional would advise you to trade with a simulator for at least six months.

Here's the Forex simulator:
http://www.expertworx.com/pm/Forex%20Market%20Educational%20Game.htm

Here's a good resource for the stock market and a stock and option trading simulator:
www.investopedia.com

Answer 2

I have trade forex for a while and just have this to say, there are more out there than is necessary, more importantly is to simplify your rules of engagement and narrow down your choices. Choice in terms of currenciens pair, choices in trading time frame, choices in technical analysis. Making money in Forex is not just entry and exit, money management with an account equity perspective is important. Trade managment is important. Dr Alexander Elders is a very excellent Forex writer, take a look at some of his books @ http://www.geocities.com/lcming/Forexbooks
As for courses take a look at ForexMentor, a free download available @ http://www.geocities.com/lcming/ForexForex

Answer 3

It depends upon your knowledge. The forex market is the largest and most liquid of the financial markets. Daily activity often exceeds $4 trillion USD a day, with over $1.5 trillion of that conducted in the form of spot trading. Forex spot trades consist of a contract to trade a given amount of a currency pair with a market-maker, at the advertised buy / sell price . It is the existence of volatility within the forex market that enables trader's to take advantage of exchange rate fluctuations for speculative purposes. Traders must be aware that greater volatility also means greater risk potential.

Answer 4

FOREX trading is an extremely high risk investment. Yes it can be profitable,but you must be willing to possibly lose it all. I'm a former licensed commodities broker and Forex trader. All systems have their flaws and become apparent over a period of time. DO NOT GO BALLS IN!!!!!! Be very cautious.DO NOT REINVEST ALL PROFITS!!!! If you do Profit off of a trade or trades, Give yourself cash on cash payback!!!! That is take at least half and put it back in your pocket!!!!

Answer 5

the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

Answer 6

Forex trading is lucrative as well as equally risky if not done correctly..One needs to understand technical as well as the fundamental aspects.

Visit sites that give good info for free like -

www.dailyfx.com
http://the-forex-trading.blogspot.com
www.gftforex.com

Answer 7

Of course its profitable but its going to be a lot of hard work determining your trading style and you'd probably develop your trading style through trial and error. Once you get the hang of it, you should expect to see a cash flow and also some losses.

Answer 8

I was just looking at that, they have a managed account you can get, where pros do it for you, has lost over 2% since the beginning of the year, and they are the pros. Oh, they get 2% per annum for managing it for you.

They offer 100-1 margin, so if your investment drops only 1%, you lose it all.

DANGER WILL ROBINSON! Trick to get your money!

Answer 9

Foreign exchange is what they call a "zero-sum" game. Basically for any cent you make, somone is losing that cent elsewhere. When you receive foreign exchange quotes from a bank they will be given as a bid/ask spread. This means the bank sells at one price and buys currency at a lower price, and keep the difference. So aside from the "rake" so to speak, it is equally likely to make money as lose money.

Answer 10

when u try any demo on the net, they are top notch
but after involves directy in real , they are always problem,
so, be prepared, and miss plenty opportunities

give try any demo out there for a year