FOREX - Can we makes monies?

I haven't read the rest of this thread so I'm not sure if someone addressed this already. In your example that you could lose $1000 from $10 that is incorrect. Reason being, the trading platform your are using will automatically stop you at $990. (They don't want to be chasing everyone around.)

You can only lose as much as there is in your account even if you use leverage. Obviously, $10 isn't a great investment as you can lose that very quickly especially with leverage. I also don't think any of the trading platforms will let you start off with as low as $10 but I could be wrong on that.

I don't know too much about Forex but I have learned a bit about the basics. And from what I said above this is exactly why $10 isn't a good investment in Forex at all. Leverage, while it is available should rarely be used and if so only a small percentage of it. From what I've read as well the minimum to start off with should be at least $1000-$2000 dollars of your own money.

Let's look at using leverage on $10

You do 100:1 - you are now playing with $1000, if you've ever watched the live exchange rates you will know that the exchange can change within a few seconds. So, you go out and buy $1000 worth of currency for a set price. A few seconds later the exchange drops before it picks up again. Your trading platform automatically closes your position and you take a $10 loss. If you want to play around again you have to deposit more money.

Now let's take a look at having $1000 of your own money. From this it's a lot easier to make a few bucks. Reason being is the trading platform will let you keep trading till you are out of your $1000.

So for example, if you bought $1000 worth (and you know what you're doing) and before you make your money the currency drops and you're down to $900 but then springs back up again and you are at $1100. Had you only used $10 and used leverage you would have lost your $10 very quickly since it would have stopped at $990. But since you have $1000 of your own cash they let you keep taking a loss till it runs out. Capish? There's my little rant on Forex.

I've read a bit of stuff on this subject and it's a lot more complicated than you think. And if you don't educate yourself and get "lucky" you are just gambling and nothing else.

 

Yup... that's right. Based on my experience, I do suggest everyone to practice the trading skill themselves from time to time via a virtual account. Wet your feet first before jumping to the lake.

 

I personally trade in Marketiva and North Finance. But most of my forex income comes from Marketiva.

 

I personally monitor the progress of GBP/JPY chart via Metatrader 4 (North Finance). I use a simple indicator which proven to give 80% accurateness and with this tool, I trade. I normally trade in Marketiva as it is easy to manage and monitor.

With the technique I learn by myself, I can lower my loss and get a higher profit everytime. Please follow me at www.yeop.net