Can you really make money trading the FOREX? Seems like a crap’s shoot to me?
March 30th, 2008 | by admin |
bIGdADDY asked:
I have recently gotten alot of OFFERS to learn to trade the FOREX with the guarentee of big profits with “NO” risk. Has anyone had real experiance with forex trading?
Jessica
I have recently gotten alot of OFFERS to learn to trade the FOREX with the guarentee of big profits with “NO” risk. Has anyone had real experiance with forex trading?
Jessica
3 Responses to “Can you really make money trading the FOREX? Seems like a crap’s shoot to me?”
By Michael K on Mar 30, 2008 | Reply
You’re right. It’s a craps shoot. If you’re lucky, you’ll make money, most likely you’ll loose.
NEVER INVEST IN SOMETHING YOU DON’T UNDERSTAND.
from the website:
2. Avoid Any Company that Predicts or Guarantees Large Profits
Be extremely wary of companies that guarantee profits, or that tout extremely high performance. In many cases, those claims are false.
The following are examples of statements that either are or most likely are fraudulent:
“Whether the market moves up or down, in the currency market you will make a profit.”
“Make $1000 per week, every week”
“We are out-performing 90% of domestic investments.”
“The main advantage of the forex markets is that there is no bear market.”
“We guarantee you will make at least a 30-40% rate of return within two months.”
3. Stay Away From Companies That Promise Little or No Financial Risk
Be suspicious of companies that downplay risks or state that written risk disclosure statements are routine formalities imposed by the government.
The currency futures and options markets are volatile and contain substantial risks for unsophisticated customers. The currency futures and options markets are not the place to put any funds that you cannot afford to lose. For example, retirement funds should not be used for currency trading. You can lose most or all of those funds very quickly trading foreign currency futures or options contracts. Therefore, beware of companies that make the following types of statements:
“With a $10,000 deposit, the maximum you can lose is $200 to $250 per day.”
“We promise to recover any losses you have.”
“Your investment is secure.”
I hope that helps.
By Paul U on Apr 2, 2008 | Reply
I have been quite active in the Forex market for over 4 years now.
As mentioned above, any market place that has the “potential” for high profits also exposes the participant to high risks and potential sizeable losses.
There are certainly no guarantees in the Forex market and anyone who tells you otherwise is inexperienced or misinformed (or dishonest).
There are conservative strategies that can be used in the Forex market that reduces associated risks and increases the potential for profits.
There are a number of Forex traders that are quite content with the potential to generate a consistent conservative monthly return exceeding what a bank would pay you in a YEAR.
The key is to study the market. Only demo trade while you are learning the workings of the Forex market. Never invest with money that you cannot afford to lose. And use sound money management and emotional management techniques.
It is possible to make money in the Forex market. Some of us actually make a very comfortable income by taking a conservative approach.
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