Sup DP'ers I've always been pretty interested in forex, Think about it "Trading money, for money, for more money" And this month I actually started trading. Took my 5$ and in 16 days turned it into 20$. And so I've been thinking to myself, 298.28% in 16 days of live trading = 18.62% daily . If i can keep this going for 252 days (How many days a year the market is open) I'll have A lot of money. So yeah, What do you guys think of forex?
Forex is risky .... and you must know so much financial stuff and about stocks it can turn into a disaster
There is a phrase called regression towards the mean in the forex market, it means that basically no matter how great a forex trader is perceived to be, he or she will tends towards average performance sooner or later. What you are earning now may not be what you are earning later. There are ups and downs and both tends to average out.
If stocks and forex offer only the profits, then every one will be going behind it making millions of dollars. But that is not the case. What is required is intelligent investing and you should know when to get in and when to get out at the right moment. Your destiny is decided there
I would urge caution especially when you are winning. Also try not to play with margin trading unless you have been in this field for years. It can be a quick road to bankruptcy. There are huge money to be made but correspondingly huge losses.
I wouldn't risk my money in forex though I do sports betting Even the pros who know it all lose a couple of times. And if you lose, you lose it big. IMHO...
For me it's risky. I wouldn't mind investing some money in it but I wouldn't bet something significant.
You can really master forex, it has to do a lot with luck to. Thats why I am talking about regression towards the mean even for those top traders.
i am very new to forex. i only use demo account of FXCM. yes it is very risky but easy. eurusd will go to 1.65000, you may try your chance
As long as the trader knows how to correctly follow a trend and truly knows how to read the economic factors and how they affect a local currency, a trader can make a living. Pretty decent living. When I was younger, I read this article on Totse and it gave me a perspective on how people think about the forex, it is not easy, but it is not brain surgery. Investigate before saying it is too risky. The word you want to use is VOLATILE, yes volatility is the Forex's nature but it is a given when there is so much opportunity to profit so quickly.
Volatile is risk, risk is normally define in beta, the more volatile the higher the beta. But of course high risk high profit or no one will be willing to invest in it.