Sir,
What would be your advise on forex trading.Does it really worth it.
What would be your candid advise on forex trading?
Posted on February 21st, 2012 in General
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4 responses to What would be your candid advise on forex trading?
Forex trading has potential for high profits and high losses. Forex primarily needs a great deal of knowledge and specialization to do it profitably. Many “GURU’s” like to bang the drum about how much money you can make, but most people lose money at FOREX, because it is a situation where you make profits based on your decisions, and unless you are right in the immediate market, you are making decisions based on partial information. Those who have the best information make the most money. If you are 60 seconds late, you may miss out and lose money.
Some people thrive in such a situation. Most do not.
Forex trading is like any other commodity – pork bellies, sugar, corn, wheat, beef carcasses, just it is commodities on speed. What you don’t have is the luxury of time to go back and forth in your decision process.
You ask for a market – get one – buy or sell- and you are out on a limb for up to 99% margin. Time ? maybe 60 seconds to be on the hook for 100 times your available cash.
You should run the practice accounts that the forex dealers give you and see how you do. If you lose you should seriously reconsider. Study – analyze your mistakes – ask for a second run at the free account.
Forex is not for the faint-hearted.
If you are a small fry, stay away. Period.
You can open an free Marketiva forex online trading account , 5 USD live fund and 10000 USD virtual fund already in your account.!
Open an free account and get $5 reward!
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