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forex is not for you!!!
By tommy408
@tommy408 (361)
Malaysia
May 26, 2007 9:55pm CST
Forex trading (Or currency exchange, FX trading, Spot trading) used to be exclusive, secret trading market for big corporation, central banks and multinational financial giants.
With the advancement of computers and internet, Forex Trading has now be made available to "retail traders", people like you and me.
In theory, today any person who owns a computer with high internet speed and can come up with initial capital as low as $200 can trade currency. There is no time constrain as FOREX market is open 24 hrs a day (except for a couple of short days on weekends). It is the largest market and the most easily liquidated one.
Ok, now that I am done with the sales pitch, let us do some reality check.
About 90% of the traders will end up losing their capital. To enjoy any significant profit, you have to have at least a thousand bucks in your trading account (it is true that you can trade with as little as $250, but over time you would realize it is quite a waste of time as the profit, if any is very small with small capital)
I've written quite a descriptive post on whom the FOREX is NOT FOR in my Hubpage post, please read
http://hubpages.com/hub/FOREX_IS_NOT_FOR_YOU
So, what do you think, Do you have what it takes to be a FOREX trader?
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