Am I dreaming or is it really possible to earn 5,000 dollars a month online?

Hi there! What do you need to know about forex trading? If you want to learn the basics then I have a very good suggestion for you: everestforex.com They have a very good learning course with a simulator where you can get $100 starting funds if completed. You won't need too much time to learn the basics...I learned it within an hours. I am not a good learner and I wasn't really confident to enter a trade so I would recommend you to try out a demo account with a broker first just to get the gist of trading. I would love to be your mentor but I am still a freshman :P so I would suggest you to go to these sites for learning strategies, analytics, expert advisors and indicators: babypips.com and dailyfx.com There are tons of other sites to learn forex trading and to get current analytics and tips for the various markets you just need to search for them. And if you want to join a broker you need to know which broker operates in india or is open for your country to join and if the broker has a so called "no deposit bonus" so you don't have to use your own money as starting funds. The thing with those sites is that mostly you won't be able to withdraw those bonuses but you will be able to take any profit you earn with your trades. I hope this helps a bit... Happy learning and happy trading! Best regards JARR

HELLO THERE, I was reading all the comments on this discussion and i stopped by yours as to know how do you really feel you can reach that target.Well as you do forex trading,can you explain me something about it,as i am not that aware of forex trading. As I have some knowledge of mutual funds and have already invested in it. I would really appreciate if you could help me understand forex trading.I am from india and presently in Bahrain for my job purpose. Hope to read soon from you . Take care Raj

hello friend, Thanks for such an important suggestion,I would love to go ahead and learn this but as a matter of fact as per the reserve bank of india guideline and act forex trading in illegal in india but i've seen many guys doing it.It really puts me into confusion how can they do it when its illegal.there are some traders and brokers too who do it in india. As of now i am in bahrain,I was wondering if I can start it from here. I would really go to the website suggested by you to learn it. AS you are from germany,it must be legal for trading on foreign curriencies,but here in india its not and still its under regular practice,wonder how..? please suggest me something more regards raj

@Jlyn : you can check whether Forex site legit or not at CFTC, NFA or FSA. Here is the link: CFTC: http://www.cftc.gov/MarketReports/FinancialDataforFCMs/fcmdata0112 NFA : http://www.nfa.futures.org/basicnet/ FSA : http://www.fsa.gov.uk/fsaregister If the Forex site regulated, your money will be save even if the broker bankrupt.

Thank you for the links, de_toya. I guess you must be well-verse in forex trading.

But how do we know which forex trading site is legitimate as there are quite a number of them? Some may even turn out to scam you in the end.

hello Archie, I have been reading about Forex trading whole day long,just to understand what's exactly the concept behind it. Later I came to know that it's illegal in India,But still its under regular practices under traders and brokers. Is it possible for us to do Forex trading when you are out of India.? How well do you know about Forex trading practices.? Advice me with some tips to start with. take care Raj

Beware of this kind of site. Good Forex site won't never calls their prospective customers actively. They may a scam site. If you want to trade (I prefer use the term "trade" instead of "investment") Forex online, you have to check out if the site is regulated by CFTC and NFA for Forex in USA and FSA for UK. If they are registered in CFTC, NFA or FSA, the they won't be scam. Your money will be save. Before trade in real money, you can learn Forex online and practise it using virtual money. Every Forex site provide demo account facility for free training. Nothing different live trading and demo trading except for the money. In addition, execution in live trading little bit slower than demo account because real market involved in live trading.

I am also having doubts upon talking one of their agent. I ask if they have an office here in our country since this company (forex) is based somewhere in the US (I forgot) What made me back out is when I came to know that they need my Visa card/credit card info- I stopped filling up the form and close the site.

Forex trading is a risky buisness. Thats what i think. You did the right thing joe. Its better to have less than to risk for big.

thank you gor your discussing, i want to go to the site to try, but after seeing your discussion i give up. i donot know how does it work, but risking business isnot suitable for me.

No...it is like gambling on foreign currency's movement...so if dollar is 53 today ...you can bet it would be 52 in an hour ..and if it goes there, you get a decent sum. It is quite risky...unless you spend hours learning the tricks of the trade...it is more risky than stock markets, but if you learn how to play it right, it is more rewarding as well.

Forex is legal and it is not gambling. Forex is Foreign Exchange and this is something normally happen in our real live. If we are live in USA, we use US$ but if we go a board, India for example, we have to exchange our US$ into Rupee. Or if we go to London, we have to exchange our US$ into Poundsterling. There is some kind a rate apply. We can't use US$ to buy goods in London because US$ is not currency in England. This is called Foreign exchange or abbreviated Forex. This is Legal in every country, don't you have ever found Money Changer in your country? This is kind of Forex. Since internet are developed, know we can trade Forex online. We can easily trade Forex even at your home. Many people trade Forex for their living known as trading for living. They trade at home and make $3,000 - $5,000 monthly. It's sufficient money for living. Forex is not gambling. If you trade Forex like a gambler, you will lose. Even if you have big capital. Forex can be analyzed. We can analyze currencies movement. Technical analysis and Fundamental analysis are two kind of the Forex analysis. Technical analysis use the history of currencies movement in the past to predict the future and Fundamental analysis use news and issues is such country to predict currencies movement. I hope my comment will be useful for you

@ vandana7, hello , I was curious to know what exactly is forex trading and how it works.for sure it is not "like" gambling,but it is gambling itself.Also I checked weather it is legal to do trading in India and i came to know that its illegal,Still there are brokers and traders who do it and has also opened a small firm which does it. There are some forums and blogs which has both the opinions like positive and negative,But wondering if an Indian national can do it online from other country,Like me ,I am in Bahrain and if i want to trade online will that be legal..? I am not sure weather you have enough knowledge about this,but this is just a question out of curiosity. Raj