2007-04-28 13:46:06 · 5 answers · asked by hopper 1 in Business & Finance ➔ Investing
FX is very rewarding to 5% of the people that try it. 95% lose most or all of their account. It would help to have years of trading experience in stocks (both fundamental and technical) before getting involved in FX.
Everyone tries to make it look easy.... It's not. You will lose money even if you use a "service" that has good win ratios because the "drawdown" is so extreme.
If you don't understand "drawdown" spend a year learning FX before you put $1 into it..........
Good luck. This may be the hardest venture you have ever tried.
2007-04-28 17:04:38 · answer #1 · answered by Common Sense 7 · 0⤊ 1⤋
I like the process that Interbank FX uses. You can immediately access your money with their debit card or credit card.
You may also notice that you receive quite a bit of advise on how dangerous Forex can be and how most people lose all their money. What you will find is that the people that lose money are thrill seekers that have not taken the time to properly learn the idiosyncracies of the Forex market. If you go into Forex looking to immeditely make incredible gains you are making a huge mistake.
My clients and I use the Forex market as a long term investment vehicle. Our style is very boring. We simply enter a conservative hedge trade and just let our position earn consistent profits whether the market goes up our down. We do not make 100% in a week.....but we are very comfortable averaging 8% per month.
Good luck.
Paul
2007-04-29 05:21:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Most Forex groups have detailed info on line with their account info like deposit and draws on all accounts some depend on mini or standard accounts.Be careful Forex Trading is very Volitile don't be fooled you are trading in a very large arena.large macro accounts,investment banks and clearing houses use Forex market to supply customers with currency while doing Business Globaly so don't think you are going in to make a killing be Technical.Good Luck
2007-04-28 15:49:25 · answer #3 · answered by Charles M 1 · 0⤊ 0⤋
The sooner the better. The more you trade at Forex, the most likely you are to lose money. Forex trading is gambling, not investing.
2007-04-28 15:22:34 · answer #4 · answered by Anonymous · 1⤊ 0⤋
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2007-04-29 06:17:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋