Have You Tried Forex Trading???
By ddaguno
@ddaguno (3107)
Philippines
May 18, 2010 7:26am CST
I was clicking on ads last night and one caught my attention.
It was about Forex trading which I wanted to try a long time ago.
There was an option to try it with $100,000 on your account, which is only for practice, that way you can try Forex trading without the risk of losing money.
I decided to subscribe to the email so I could read it more when I had the time.
I was so surprised when I received a call from an unknown number after only a minute.
It was a guy from Ireland calling about Forex trading and was asking if he could be any assistance.
What do you think should I try Forex trading? Are there any of you who have experience with this?
14 responses
@chipesterkhan (2925)
• Philippines
18 May 10
Forex trading is actually one of the things me and my brothers wanna try
but we're gonna do philippine stock exchange before venturing on to bigger things
there's a huge risk involved in trading and you'd need a big capital to profit from it
think hard, research and try to pool enough money with a group of people to lessen the financial impact on yourself
1 person likes this
@bloggeroo (2167)
• Philippines
18 May 10
Stock trading is investing. FOREX trading is speculating. One important difference between the two is the level of knowledge you will need to trade in either market.
In stock markets, you can pick stocks with limited knowledge and even limit your research to just one stock.
This is not true with FOREX, you can lose your entire capital in one swing. Your judgment here and alertness should be at a higher level than in stock trading.
@bloggeroo (2167)
• Philippines
19 May 10
It actually depends on your belief in your own abilities. If you believe that you have the talent and the energy to speculate, FOREX should not be that complicated. But if you tend to get lost in all those charts, jargons, etc., then you won't really enjoy it. Worse, you'll lose your money.
So, I think a FOREX trader or speculator should believe in himself.
As for me, I understand FOREX and I like to speculate. So, I'm just raising enough trading capital to start trading. It's just a matter of time. Actually, I'm glad that there are now micro-trading accounts offered because that means I won't have to raise the typical capital needed and I'll be in the market sooner than I thought.
@rbdescartin (616)
• Philippines
19 May 10
Hi, bloggeroo so what would you prefer and what advice would give me regarding FOREX trading, I am so interested with FOREX.
@umabharti (3972)
• India
19 May 10
i did practice trading of forex and also tried the real one.It was a little bit confusing but later it seemed to be understanding.Present i am doing with online trading of shares.Intraday trading.I was helped by a friend who guided me know many things.So best thing is take help of someone who can guide u.Without knowing if we do something then we have to face the circumstances.
1 person likes this
@kumarase1981 (3)
•
31 May 10
hello..
i practiced forex more than a year and just recently started live. i trade 7 currencies. what currency do u trade and can i know your time frame and strategy..
regards
kumar
@ellago (127)
• Philippines
20 Jul 10
I don't have a 1st hand experience yet aside from the demo account I got. However based on the crash course I have attended, it is very risky if you don't know how to do it and you know the rules. It is somehow related but not too much the same with Stock Trading.
Get educated 1st before putting money on it. The worst thing that could happen to you is lost all your investment.
1 person likes this
@kingkrunal (150)
• India
18 May 10
Dont go for in forex trading unless and untill you are not aware about all the terms and methods. Learn for a month or two and then select some good brokerage firm. DO not go for bots. :)
1 person likes this
@kumarase1981 (3)
•
31 May 10
hello..
am kumar from india. i personally trade forex and i also deal with an forex firm.
forex is a very interesting and an very good earning business provided you follow some basic riles and money management. i can give you lot of idaes and tips for u to be an good trader. if u are really interested in forex market u can mail me to kumar.alpari@gmail.com.
i can assist u in better understanding the market and u can try all my strategy in a demo account and u can see the result.
regards
kumar
0091 99421 14000
1 person likes this
@Alvals (264)
• Latvia
22 May 10
Forex is good place to make some income online. You even haven't spend your own money on that. In my profile is link to Forex site that gives you $5 in your real account to start trading. Using them you can decide if Forex is for you or not.
@bangipung (155)
• Indonesia
18 May 10
i dont have any experience with forex trading
but, i think forex is high risk business
@icecubic (1845)
• Indonesia
18 May 10
I ever working in marketiva to trade without any capital because there is free joining and the payout is 100$ via check but then i have given up in 2 months since i gues it's too difficult to maintain our activity there to sell/buy with the best amount unless we can online for 24 hours a day. My balance just increse 2$ in that period. I just waste my time here i guess. Good luck and have a nice day
1 person likes this
@itzmee1009 (362)
• Australia
19 May 10
hi friends, before 4 months back i also retired the forex trading, its really interesting field, more over there is a high risk also ,please dont invest any money unless if you are afford to lose also. My advise is before go to the real dealing please do a practise trading for atleast 4-5 months
1 person likes this
@magtibaygom (4858)
• Philippines
18 May 10
What??? Starting with $100,000? I haven't tried Forex Trading yet but I am an authorized affiliate of one popular Forex company, HY Markets. You can start trading with us for as low as $50. Why is that so big? What's the name of the Forex company?
@bloggeroo (2167)
• Philippines
18 May 10
Actually, the typical account is just Php100,000. That's the equivalent of two contracts. But this won't give you a chance to profit from big movements because you are likely to get a margin call. Normally, US$10,000-20,000 is the ideal trading capital. You will be able to trade with enough room to profit from big movements of the market and you won't get a margin call so often. But only 10% of the trading capital is normally exposed or committed.
Micro-trading accounts are just fairly recent. So, people would think that this is the typical trading account for FOREX.
1 person likes this
@bloggeroo (2167)
• Philippines
18 May 10
I'm planning to go into FOREX trading one of these days. But I can only afford to get a micro-trading account. FXCM offers this kind of account. You only need US$25 to start trading, if I remember right.
One thing you need to know about FOREX trading. It is not investing. It is speculating.
FOREX trading is actually a zero-sum game. The contracts to buy or sell are actually written by large banks or financial institutions who are trying to hedge their positions (or holdings) by predicting the direction of the currency rates and betting accordingly. These contracts are then traded in the FOREX market for other traders (i.e., speculators).
Those who buy or sell the contracts of these banks and financial institutions shoulder the risk by being the party on the other side of the trade. Since FOREX traders don't have huge currency holdings, they are really just speculators. They are betting the bank is wrong or right.
Normally, for the bank, their trades just cancel out if they are wrong. Because they have the actual currencies. If they are right, they make huge profits.
For FOREX traders or currency speculators, you really need to have a good grasp of where currency rates are headed and the driving factors that affect them. You are making one way bets (also called naked trades or unhedged positions).
1 person likes this
@wishformod (56)
• Pakistan
19 May 10
HI, I have been experienced with Forex Trading..There is loss in this if the currency goes down and it depends on what level you bought and what level are you selling at. If you spend a big amount of money in trading if the currency goes up you get doubled amount of money. The main thing in doing Forex Trading is to wait for a long time not get hooked up with it at what stage it will rise or not. So just forget it and when the currency goes up then sell it then it is profitable.
HOPE IT HELPED FRIEND.