What do you think of Forex online?
By boyuancy
@boyuancy (1708)
India
January 18, 2012 12:30pm CST
While writing an article online, I came to know about e-Forex. What do you think about it for money making? Do you think it can be trusted?
Also, know any good e-Forex sites?
2 responses
@vandana7 (100282)
• India
18 Jan 12
Here is some unsolicited advice coming your way
If you have 10 bucks to play with, play with just 1 or at the most 2 at a time.
Second when you make loss dont panic. Just preset your ability to accept maximum loss
So if you have 10 bucks and you invest 1 out of that, and you unfortunately are making a loss of 2 bucks, quit. But if you are making a minor loss, hang in there.
The sun is around somewhere..and will soon shine your way. (Here too clouds can cover sun but as you know rainy season is only for a few months).
Third ..many people try to average their losses by investing more when the value declines. Not always advisable. Again preset the limit.
Fourth only one transaction per day. Whether it is your winning day or losing day.
Fifth ..study the economies of a few currencies. Concentrate only on few, you are no super computer, remember? So you should have resources to track their exports, their balance of payment, their inflation, their Foreign direct investments, their exports, and export orders in future. Analyze all this information and if you can do it in time before others, you do have a winner on hand.
If you think all this is too much, you would be right. All the best.
@crystal11 (157)
• Malaysia
11 Mar 12
For $10, it is very difficult to trade, my advise is $0.10/pip. (micro account) $100 is a little easier. Risk shd be max 2% of capital. All this is explained on http://babypips.com.
@vandana7 (100282)
• India
11 Mar 12
Wow..that is a good site crystal. :) Yeah, 2 percent is the maximum. But that depends upon the investment amount right? I mean I quoted 10 USD, and so I said 2 which is actually 20 percent. It was a figurative of saying something. 10 USD or equivalent would certainly be low. :) But whatever..you gave a good advise and a good site. Thank you. :)
@saeedonline (340)
• Saudi Arabia
21 Jan 12
Making money from forex is hard. But you can make money from it if you are ready to go through the hassles of getting the required knowledge and expertise. You can check http://www.babypips.com/. They present forex in a very interactive and fun way.