Please help me in money making by Forex trading.
@rohit999999999 (96)
India
June 24, 2012 1:08pm CST
I have learned that Forex is a good way for making money. But i am not sure how to start. Please tell me correct platform where i can learn and start Forex trading.
6 responses
@petersum (4522)
• United States
24 Jun 12
If you "learned" that forex is a good way to earn money, what was it you actually learned?
I am sick of warning people against forex trading, so this is the absolute last time I'm going to comment on any of these forex posts.
rohit, do yourself a favor and use the mylot search to find previous "forex" discussions and learn from the comments therein.
To sum up for the very last time - there isn't a correct platform anywhere for the small man to do forex trading. It isn't trading at all, but pure gambling for bankers and fund managers who aren't even using their own money. The small fish on the Internet will always lose their money.
1 person likes this
@rohit999999999 (96)
• India
24 Jun 12
So what do you think about stock market? Is that gambling or skill?
@petersum (4522)
• United States
24 Jun 12
There will always be an element of gambling, and a certain amount of manipulation involved. Betting on the horses is far safer for the small investor! If you are using millions of dollars of other peoples' money, you might call it a skill. It really depends on who trusts you.
@elguardian (353)
• Malaysia
24 Jun 12
Stock market, forex, bonds, shares you can name it all, it is all gambling. You gamble your money hoping that the result will come in your favour. Any gambling whether it's poker or black jack or stock market requires skill, skills of understanding the game. Even wanting to acquire this skills to trade also you do need investment like books, "tuition" from the so called pros and best of all, investment that you dare to lose by doing some trades and see how it work out.
Don't trust those who tells you "i earn hundreds and thousands of dollars in forex in just 1 week or 2 weeks or 1 month, come and join me". Even the best traders took some time to learn all the skills needed in order to trade properly.
@narnia007 (1050)
• India
24 Jun 12
Hey.Many people warn about Forex and indeed it is true that it is one of the most risky online earning platform since many had lost their money.The drawback is that, successful traders don't some out here and offer you advice and their strategies to trade and earn some decent money.What I would say that,first of all-learn all about Forex and apply your skills in their training platform where you will e virtual money.Trade in them for about 4-6 months and be in such a way that you can predict the market and get more profits than your losses.Then invest your real money,The platform I would suggest is etorro.
@petersum (4522)
• United States
24 Jun 12
etorro is one of the most succesful internet groups. Long known as being the principle partners with Neobux in their early days. They are SO successful BECAUSE of the money small investors have lost through them.
Yes, they give advice. Yes, they have tutorials. Yes, they have practice accounts.
And yes, you will still lose your money!
@petersum (4522)
• United States
25 Jun 12
Basically, when I hear some ordinary person saying that they have earned $100 on forex, I simply do not believe them. Main reason is that to earn such an amount, you would need to invest at least $5000 for one incredibly lucky trade. Or $500 for ten consecutive lucky trades, or $50 x 100, etc. Days where such profits occur are extremely rare. A typical good day would give a tenth of one per cent profit at best.
The above is standard forex trading. Most Internet sites have a completely different method of trading which have even worse odds of winning.
Strategy may come into place perhaps once or twice per year, otherwise it's pure gambling.
@narnia007 (1050)
• India
25 Jun 12
Petersum.You are right that many have lost their money and that is why even after studying so much about Forex and entering their practice session,I am not into real trading.One of my friends literally lost 100 dollars in just two days with them and then he never took to trading with them again.But I am still totally against Forex for the simple reason being I find few people who are actually good at earning at Forex.I even saw a girl here on mylot claiming that she had earned 150 dollars in just two weeks through trading.If such successful people share their strategies,every one can earn there.I just could not be against them totally.What do you say about this ?.
@choybel (5042)
• Philippines
24 Jun 12
Well, it seems the previous responses, or the ones above mine says it all. My friend ones talked to me about this. He said that he wanted to give it a try so he started researching and reading forums. Then he told me after several days that the more he read and knew the more he didn't want to try it until finally he gave up on the idea. So, I should say that it is not something you would want to try especially without successful people backing you up.
Still, if you do decide and pursue on this, good luck to you! Luck is always a factor in gambling, I believe that.
@emma90 (530)
• Indonesia
25 Jun 12
try in demo first for 6 month
learn the strategy, and if you ready to enter live forex. Fill your account with your real money
for the first only use $10 if you can survive in 1 year, you ready to make money in forex trading with the more nominal of your money.
good luck
@carben44 (322)
•
25 Jun 12
As others have pointed out, Forex is far too risky unless you know exactly what you are doing. For example, when the world and its economy went down the gutter back in 2008, if you could see that coming, you would have made an unimaginable amount of profit.
Even now, you won't make much on Forex unless you have in excess of $20,000 to invest, and even then, you have to be prepared to lose that 20k.
My advice: Avoid!
@elguardian (353)
• Malaysia
24 Jun 12
Forex is certainly a good way for make money. But forex is also the best way to lose money. Just like any investment or trading, without knowledge you're 100% going to lose. Furthermore, it is very high risk, make sure the money that you use to trade are money that you could afford to lose because forex is similar to betting or guessing game. You buy and sell currency.
Some people here that i know actually makes a living out of trading. They trade currency, gold, shares and some other stuff. Some others are making extra money on a monthly basis apart from having a job. But be reminded, these people have gone through loses before understanding the game.As for me i can't afford to lose money just yet so i can't join them in their trading activities.
