Hey guys, I've been looking into Forex for a bit now but not sure if its good to invest in. As of right now, I know its the Foreign Exchange and some people make a living from it. Can someone point me in the right directions? I think NCMedia had an ebook or something like that but I forgot the name, does anyone know what it was called? Thanks,
Forex trading is now my full time job. Not need read any ebook. Last time i only read babypips then started demo for few month before go live.
Forex can be good but its a really steep learning curve...I literally lost a few thousand just trading on my own before I dediced that I coulndt do it. I ended up going to a managed account service, where they trade on my behalf like in a hedge fund. So far i've been doing quite well. I mean its not a get rich quick scheme but tis steadily increeasing my investment. The service rfxcapital.com is quite reputable so give em a call and see what they have to say.
Yes, Forex is another kind of investment tool for us to make a living with it. However, i would suggest you invest with a demo account first before you start a live account. Practice trading will improve the skill or knowledge on Forex. When the time you are confident and really earn money in demo account, then only you go for live account. You don't have to buy an eBook. Demo practice account is your learning curve. Do read through http://www.babypips.com first. PM me after that and i will guide you further.
I read a few books, and tried a practice account on some service. It is easy to make money, but it is hard to keep it. Most people (including myself) will get their butt kicked and loose it all. I know someone who has been working at it for almost 1.5 years, no major money made yet :-(
Steer clear of e-books that offer you "holy grails" and document yourself properly. babypips.com/school is a good start, and then buy a few investing books. Trade in a demo account testing your strategies extensively before going live and risking your own money. Remember that losing is much easier than gaining in forex.
Forex can be great, but with any investment, you can have substantial losses. You need to be cautious and trader like a pro by controlling your emoitons and utilizing charting tools.
Forex is good to earn money, but need more practice on the demo first before going to live, some people can expert it on a couple of month but some took a year to be expert before going live.
I also recommend BabyPips to get you started. I know many people who have had success using 10 Minute Forex, as well.
You can try forex. There are lot of automatic forex trading tools like fapturbo, day trading robot etc. I would suggest you get acquainted with forex trading and then decide what to do. Many forex sites provide demo accounts with sample money to test your capabilities.
Forex works - for the brokers. For the small trader it is just a matter of time until you lose enough money before you eventually stop trading. I challenge you to find someone who has personally been trading forex for more than 5 years, profitably. Go ahead, I'll wait...... The odds are 99.9% against the small trader over the long haul. No "system" works to profitably trade forex over the long haul. Forex is a zero sum game that is heavily rigged towards the big hitters. They have advantages over you at every point. It is far from a level playing field and the small trader is the ultimate loser. Don't waste your time or money. Tom