Forex trading

Thanks Fragilewings, for your answer. I think you are right, also with regard to people counting on gaining, but having trouble with the idea of losing. How come you only worked in this field for 4 months, if I may ask? It doesn't seem the kind of job that anyone can just do, so you must have prepared for it in some way.

I left the company because of low compensation and lack of benefits. The company was giving us only transportation allowance. Brokers from our company earns on commission basis- we get commissions whenever the investor placed position in the forex market. I like what I did in Forex but I chose to be pratical that is why I left the job. We're not only consultants of our investors, but we also do sales. We go out in the field to get investors; most of the time I used my own money for my transporation expense because the allowance the company provides was not enough LOL. I also thinked of my safety; we don't have any insurance protection knowing that we're always out in the field looking for potential investors.

Thanks for that explanation. It sounds like that position was just as risky, in a way, as Forex trading itself.

Yes, your response was balanced and informative, and you mentioned the demo accounts. I do hear both of you saying that Forex trading is not for everyone, and very risky, and I appreciate that. I suspect that one problem can be that people are too greedy. They dream of big wins, so they gamble big which carries a big risk. And then they lose big. Oops, how did that happen? Demo accounts are probably a good idea because they not just let you try the market, they also let you try out the site or software. I ran into a simulator on a site last week, and played with it. At some point, I wanted to cash in on a rising rate, and sell a currency I had, so I placed an order in the simulator. When I next looked at the screen, I suddenly had quite a loss and my balance had gone down a lot too. Oops, how did that happen? Turned out that not only had I ended up with an extra zero in my order, I also accidentally ended up with three times that large order, instead of just once (a hiccup in the internet transmission, maybe?). So, I had accidentally bought a large amount of the currency that was going down, LOL, because that was how that particular simulator worked. This morning, I opened demo accounts elsewhere and the first thing I saw is that other sites work very differently. My experience last week still drove home how easy it is to make a mistake, simply by accidentally pressing the wrong button or something like that. It also made very clear that it is important to find out how and where to place limit orders and stop-loss orders. And so on, and so forth.

Hi Petersum, thanks for your response. Well, I am not going to go to the bank and buy one currency and then return it later when its rate has gone up sufficiently, but I guess that was not what you meant. ;-) So, literally, someone else does the trading for me anyway. But apparently, there are also sites that do all the trading for you? I did not know that (but I would rather go and have a chat with my bank, then). Thanks for that information, as it is good to know, also for the discussion.