Is on-line forex trading for the average guy or should be left for the professionals?
Question:
Answer:
Forex trading is a lot like legalized gambling. It's not part of a conservative "average guy" portfolio. But there are free accounts on the internet whee you can play the markets with pretend money (and it tracks your gains, losses, and trading expenses) so you can teach yourself about it.
The thing is, as with all investing where you don't yet know what you're doing, when you start doing it for real, you need to treat the money you spend as part of your entertainment expenses -- think of it as spent money the minute you make a trade.
And don't forget -- if you make a big gain, and then lose all the gain on the next trade -- you're likely to owe the government tax money even thought you netted zero dollars. So remember to set aside a portion of your "winnings".
I agree with Glenn. One of the world's most successful investors, Peter Lynch, gave this advice -- Invest in what you know.
No.
Do not...I repeat do not invest any money into forex until you know what you are doing or you will get wiped out.
The best way to check it out is to take a test drive without investing a single cent.
I'd be happy to share with you a system that I tried out on a test drive and have been driving ever since!
I don't want this to be appear to be a sales ad so feel free to drop me an email and I will send you a free report that should help you quite a bit!
Cheers!
pupp52@yahoo.com
OK, I'm probably only one who is satisfied with on line trading...
From the beginning I had experienced some loses,because I though I can do everything by myself,(bad idea)
Then I came across http://4xgenie.com , I tell you - much better experience. Full service. Most importantly - profit. They will give you free trial if you use MSMS555 code when signing up ( no credit card needed). So good luck.
Thats why there are 'free demo accounts' on many forex websites, where you can track your progress, gains and losses through fake funds. Before you start, you should open one of these demo accounts. Of course you should also find and absorb as much information as you can and learn as you go while your trading in a demo account. The links at the bottom have excellent 'forex resources' and informational articles regarding trading especially for novices like yourself. Theres information on the development of your own trading style, risk management systems, info on the 'forex market', the central banks of the world, major currencies and also the latest news regarding happenings on the world economic and foreign exchange. I've lost quite a bit but i believe its all part of the learning process. I've gained back what i've lost but this is all thanks to the preparation and learning that i've done beforehand.
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