Is this FOREX thing for real? How does it work?
I keep seeing this ads about this new method of making money by trading currencies. How exactly does it work?
There is NO forex signal company that can beat the market in the long run. This is from my experience in forex trading for years. Else everyone is rich.
A Forex trader needs to learn and master the necessary skills to be successful in forex trading.
It’s a good idea if you know what you are doing. While the US stock markets are only open from 9:30 AM to 4 PM EST on business days, the FOREX (it’s an contracted form of Foreign Exchange) is open from Monday morning to Saturday afternoon.
It’s just a method of converting money from one currency to another to make money based on changes within exchange rates. Keep in mind that is a greatly simplified explanation. You should do a lot of research before jumping into it, unless you just really like losing money.
References :
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. 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.
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.
References :
http://www.smartmoney.com/investing/stocks/a-new-refuge-for-day-traders-7584/
http://www.cftc.gov/opa/enf98/opaforexa15.htm
http://en.wikipedia.org/wiki/Forex_scams
FOREX stands for FOreign EXchange trading. In essence, you will buy a currency at a lower rate and sell it when the value of that currency increases.
This can happen within few minutes. Unlike Stock market you can make money in forex even when the economy is down since the currency rates are always relative. That is if you are doing EUR/USD pair, when the relative value of USD goes down the value of EUR goes up. You can buy or sell accordingly and make profits.
Read this article: http://www.thepowhatan.com/forex-trading-how/
References :
http://www.thepowhatan.com/
forex is real but a very risky investment. you need to educate yourself first before trying to start in it. check out this source and download a free forex ebook and a free demo account. the site is also awash of other learning materials and tools you need to start up. all the best.
References :
http://www.optionforex.org
Forex trading is a high risk, high reward trading. There is definitely potential to make a lot of money and many people from all walks of life have taken it up professionally. If you are interested in the forex market you should do some research and educate yourself on the forex market.
References :
For reliable forex brokers: http://www.forexlane.com/brokers.html
There is NO forex signal company that can beat the market in the long run. This is from my experience in forex trading for years. Else everyone is rich.
A Forex trader needs to learn and master the necessary skills to be successful in forex trading.
References :
Being a forex trader for years.
Ive been trading Forex now for about 1 year. I lost money at first, but now I’m doing OK. Not making millions but certainly positive now. The potential is huge.
One of the great things about this market is that you can trade with as little as $250 and risk a much smaller amount each trade. It’s a great way to learn with real money and not loose all of it.
You can also sign up to free trial accounts.
Like this one:
http://tinyurl.com/mh7ow3
References :
http://tinyurl.com/mh7ow3
It is real indeed, though it is not a method, it’s a system. To make a long story short, it works by you opening an account and you start trading a pair of currencies, you can either buy or sell depending on what better fits your strategy. Forex can be a good way of earning money as long as you know what you’re doing, so if you really want to start trading forex you better read and learn about it as much as you can, so you don’t waste all your money.
References :
http://www.tradeviewforex.com/accounts.aspx
[...] the original post: Is this FOREX thing for real? How does it work? | Forex Commentary AKPC_IDS += "8696,";Popularity: unranked [...]