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2007-02-22 23:15:25 · 0 answers · asked by younas 2 in Business & Finance Investing

0 answers

There is no easy way to make $$$ on the forex market. There are a lot of people peddling get rich quick schemes around forex - so be warned! If it were that easy to make money on forex, why aren't there more millionaires from forex trading? If you look at any rich list, almost of them are from legit businesses.

2007-02-24 15:28:51 · answer #1 · answered by flying_eagle 4 · 0 0

Stay away from anyone claiming to make you millions!!!!!!!
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Most signal companies don't report their numbers accurately.
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Signals for FOREX is a rough game. They tend to bend or ignore every rule of Money Management. I did a lot of research. Thought I had the "best". Watched their numbers to make sure they were "true"... and they were. 60% - 75% winners (which, as you know is great for FX).

But the "drawn down" killed me. There were no stops. I got out after a trade lost me 80 pips. The "signal" company didn't get out of the position for 2 weeks. The draw down went almost 200 pips before it reversed. There was a small profit on this signal.... but most of us could not afford to hold on. On "paper" this guy looked great!!!!!!

FX is not a "game" you can make by following someone else's moves. You need to understand every aspect of the trade so you don't run when you shouldn't... and don't get out too soon. Preserving capital is job number one!

I'm still not doing great... but things are getting better. Lots of reading helps. There are some sights that will help you learn more.

Contact me if you like. At the very least I can show you how not to lose cash, like I have. I still love FX. I've just lost my "greedy" side and I'm taking it slowly.

2007-02-23 01:21:18 · answer #2 · answered by Common Sense 7 · 1 0

Check out this site. You can get all the information and links that you need. Well worth it!!

2007-02-22 23:37:38 · answer #3 · answered by Anonymous · 0 1

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