Dear All, I welcome your views on how you see forex as an investment option.Would appreciate individuals experience too who have/had tasted forex. It would be great if you could also mention your experience and time you've been trading for or if you looking to try this sector. Regards
Hi, I traded forex a year or two ago. And I will say only one thing... If You don't have good system DON'T play on forex. It will kill Your wallet. Read moneytec.com forum. You should have good strategy if You want to play on this market. Forex is highly technical but very difficult. Check on oanda.com with small budget and if You will be successful try larger. But be careful! Regards, M
You can make money trading Forex but you do have to approach it with caution. Too many people get burnt because they rush in and blow their capital within a few days. If you are prepared to take the time to learn as much as possible and are prepared to wait for results then you can make money from it. Check out the first two links in my sig for Forex information
Trading cannot be an investment option . Trading is more dependent on technical factors. Investing is usually done on long term fundamental view. You can make or lose big money in forex. If you have that much loss taking capacity, then go ahead with it. Very few people actually invest in forex.
Sachin410 is correct. Forex trading is speculating rather than investing. (Not that speculating is wrong). I'm reading Graham's Intelligent Investor at the moment and he makes a strong point about the difference between investing and speculating. Anyone who has been successful with Forex care to share some tips? I've been interested in Forex but I'm not ready to jump in yet. I'm still trying to understand the whole thing.
Me too... I've tried a demo two years ago, and played with virtual $10,000 just for practice. I made them $20,000 in like two days if I recall, which made me exited! I didn't really take the time to study everything, and forgot about it later. Now I'm looking for a the most solid and recommended forex program that offers these training demos for download before blowing up your real money!
I see it as possibly the worst investment option available. Unless you have a multimillion dollar fund and millions of dollars of software available it just ain't worth it. Look at equities instead.
I think the statistic is something like 95% of people fail within their first year, when trading for themselves. The amount of patience and knowedge of the markets / technical trades you'll need to achieve consistent results requires a special amount of dedication. Restraining yourself to always taking the cautious approach isn't easy, as you can easily start to wish you'd taken it that little bit further on the last trade. Then you're on a dangerous road. I guess you could use a managed account to trade for you, but they are just as hit and miss most of the time. I think if you're looking for a good investment, forex might not be the best option. But that's only my opinion.
I used to work at a Forex training firm - traders paid $500 a month to rent the desk space and take advantage of the Forex software and resources of the firm. I can't say much about investing in Forex from a financial standpoint, but I do know that very few people in the office were making any kind of money. They were also stressed to the max, stumbling in at 1:00 a.m. to be there when the European markets opened, staying through U.S. market trading, and some even staying hours when the Asian markets were open.
I market a site and blog for a group of traders that do very well. expert-4x.com is the subscription service (for the trade recommendations), forextradeoftheday.com (new site) is a good one for blogging on trades, analysing, learning forex principles and strategies. I took the project on because I want to learn forex trading as a sideline to the things I already do, and these guys seemed to know what they were talking about. Read read read as the others have said, there are many many people making a stack of money on forex trading, so its not "all a scam" - just most dont have the discipline or have done the correct research.