How can I invest in Forex?

There are people who have been using since June and made huge profits, i am new and started last week and already made profit with initial deposit. Do you know if you are alive tomorrow? no one can guarantee whats gonna happen tomorrow, if you want more proofs let me know i will share.

 

I can guarantee you'll be banned from here by tomorrow..

 

^^^Don't let anyone tell you different, you are psychic!

 

If you are just starting out, I recommend the BabyPips School of Pipsology
Check out their website. It's a great guide: https://www.babypips.com/learn/forex

I also recommend investing in copy trading. Using the MQL5 marketplace and the MT4 or 5 platforms.

I invested $100.00 USD three weeks ago and today I have $125.38 USD

I only wish I knew this sooner.

You can have two accounts ... one for MQL5 signals and the other is your manual trading.

Here is the MQL5 signals link: https://www.mql5.com/en/signals

 

Do you think those trading bots work? I'm seeing them all over the place it's insane; however, I'm extremely skeptical about them. Not gonna trust that cr*p for now.

 

@mmerlinn
Those bots do not even work for 7 days.
If they did, then these people won't be spamming forums
They would be the richest dudes on the planet! LOL

@Ayoub benali01
Trading bots are just API based trading.
99.9% of those do not work as advertised.
They will empty your bank account in one day.
Do not sign up for one of those.
Its a bigger scam than make money online courses...

Most of them are made by brokers who are interested in their commission per trade.
That is why they keep placing order after order on your behalf, does not matters if you make profit or loss.
Broker keeps getting commission on each order placed, while you wake up to see your trading account empty of funds.

 

you can easy look for a good broker just find the better one in your country

 

And HOW do you find a good broker?

 

I also responded to this joker, (@simowbouss) but later deleted my post as it was way too easy. Forex brokers....do they have a union?

 

I doubt that Forex brokers have a union. All they need to do is to appeal to the GREED of the suckers to get clients.

In general, a "good" broker is defined by how successful he is. But a broker CANNOT be good or successful WITHOUT raking in commissions on the client's trades. Since brokers get paid whether the client LOSES or PROFITS on a trade, defining a broker based on how successful he is at milking the his clients is pure IDIOCY. If a broker got paid ONLY when the client profited, THEN and ONLY THEN would judging brokers by their success have any value whatsoever. As it is, MOST, if not all, successful brokers became successful by churning client accounts, or, to put it bluntly, THEY ARE THIEVES.

 

It appears that my humor has gone over all of your heads. There are no brokers with Forex trading. My union joke was an attempt at levity.

What you do have are firms that can advise you as how to trade and teach you the ins and outs,(for a small fee) and usually will start you off with a free demo account...but no brokers at all.

 

That is what you get when you communicate with idiots like me.

 

Okay, so this is a big no for trading bot gotcha. They're, however, so appealing! Especially with the way they market themselves and the use of "social proof." Maybe it's fake who knows.
I'm reading a lot about investing and soon I'm gonna enter forex trading, I just need to levitate my financial IQ because financial education is key to financial freedom. I'm starting to consider real estate also, here in my country it's so hard to enter this domain because of the prices, even a small house can cost a fortune here. The banking system is not great also, so loans are not an option. But man oh man I love real estate! I don't know if I can invest in real estate in another country, I hope so.
Thank you Jeet for knowledge I appreciate it a ton

 

Many people have made millions in real estate, but real estate is not for the faint hearted.

Don't know about your country, but here EVERY time real estate changes hands there is about a 10% hit with fees, taxes, and so on. So, even before you can show a profit, you are down about 20%. Add in other risks, and the only safe way to buy is at half price or less and even then you might lose money.

Recently, a person I know paid around $20,000 cash for property worth $250,000 on the market. No matter what happens, he will profit. Deals like that are the only SAFE way to invest in real estate but seldom present themselves to the average buyer. In my view, the only safe way to INVEST in real estate is to buy at half price or better.

Buying real estate for other reasons like cash flow, a place to live, and so on is a completely different ball of wax. Depending on the circumstances it MIGHT be good to pay full price, but with all of the fees and taxes, one must look VERY closely at the bottom line so as not to overextend oneself.

 

I know that taxes are a problem in the US, but investors and big business owner don't pay high taxes like employees and self-employed people, please correct me if I'm wrong I've read this in a book called "Rich Dad Poor Dad" by Robert Kiyosaki. He is a well-known businessman and he goes deep into taxes, cash flow, real estates, and investments in general. Just a question Mmerlinn if you may, can I invest in real estate in another country? I know it depends on each country's policies but let's take the US as an example here, does it let foreigners to invest in real estate?

 

The fees and taxes I referred to above are paid by EVERYONE EVERY time property is transferred. Things like property transfer taxes (typically 1% to 3% depending on locality), filing fees, title fees, surveying fees, title search fees, legal fees, and so on. Total fees and taxes can come as a shock when one is not aware of them.

No idea about laws concerning alien property ownership here.

 

What I have done is to purchase mobile homes cheap, renovate them and later flip them for a profit. Some I kept and derive rental income from. Where I am you can buy old mobile homes for about $10,000. Luckily I have the land to set them up on. (Sewage, water etc.)

 

Oh wow! That's a lot of fees lol thank you for your clarification. Good luck with your investments!

That's smart! I wish I can do it here but no one wants a mobile house! It's funny how business follows the culture of each country, best of luck in your investments Spoiltdiva

 

Ayoub benali01
Good way to make money in real estate is to invest in empty land plots, get them developed (homes constructed), and then sell them.
Don't know what these are called in your country, we call these "High Rise society" in India.
Which country are you in?

As an individual, you cannot buy plots and develop them like mentioned above, requires big investment,
so second best option is to find projects by known trusty builders, and invest in those projects.
Book 1-2 houses in one of those property projects.
Once the construction is over, takes 1-3 years, by that time prices of that area would have gone up and you will be able to sell at 20%-40% higher prices.

Sometimes scams happen in this too. Builder goes bankrupt, starts working on some other project, stops construction on this one, etc etc.
Then your property does not gets delivered, and there is not too much you can do about it.
You can file a case in court, and hearing keep going on for 10-20 years...
Its pretty much equal to doing nothing...

Rule in my country is, if you sell a property, then you have to pay "capital gain tax", but if you buy another property using the same amount which you got for previous property, then no tax.
You will only need to pay a 7% registry fee on this new property.
The process is handled by the builder themselves, so you do not have to pay any lawyer etc fee either.

Big problem in my country is that builder going bankrupt thing.
Happens more often than you think, and projects of even large known builders have been hanging for 10 years and more. Supposed to be delivered in 2-3 years max, but still half constructed only.

 

Same problem here, in Algeria, builders go bankrupt, and worst of that they scam, take the money, and run!
I'm not that awarded in terms of taxation rules in my country, so I don't know how BAD it is. However, what I'm sure of is the ridiculous prices of lands and investments in this domain. It's not easy at all to enter the real estate world, and no one wants to invest in it because it's called "Risky."
Well, I'm gonna deal with the forex thing, which is a hell of a learning curve, then I'm gonna see what to do about real estate. In the meantime, thank you for all your info Jeet, @Spoiltdiva and @mmerlinn
Stay safe