Is a forex currency trade scam or not?
Question:
Answer:
The Forex market is actually the largest market in the world. There is $2 trillion traded in the Forex market every day. Up until the past few years, the market was only available to large institutional traders and individuals with substantial net worth. Now, the Forex market is open to all investors.
There are two major problems with the Forex market as I see it.
The first is the "potential" for large profits with a relatively small investment of a couple of hundred dollars. This tends to make it way too easy for the average person to trade in the Forex market in the same manner that they would take a seat at a blackjack table in Las Vegas. These people are no more than Forex gamblers and are certain to lose their money before they even know what the word Forex stands for.
The second problem is that everybody and their brother is now talking about Forex. It is very common to get introduced to Forex trading by someone who does not have the knowledge, support system, committment or compassion to make certain that your best interests are their primary concern.
There are methods of trading Forex with which you can quickly lose all your money. There are other more conservative methods of trading Forex with which you can generate a comfortable, consistent rate of return as a key element of a long term investment strategy.
I, personally, will not allow any of my clients to trade a live account and risk their own money until they have had sufficient training and experience trading demo accounts. Once you understand the risks, the market dynamics and the proper methodologies than trading in the Forex market can be an interesting and rewarding experience.
My advice to you is to take your time, learn-before-you-earn, save your money while simply trading with demo accounts and find an experienced Forex trader willing to devote the time and energy necessary to coach you and look out for your best interests.
Best wishes for a prosperous 2007.
Paul
pupp52@yahoo.com
its real but if you do NOT know what you are doing trading foregin currencies. DO NOT DO IT! You stand to lose everythign you have.
Listen Very Carefully...This is important.
Forex is Foreign exchange trading.
It is a very complex, high risk, high leverage type of trading.
Only the professionals who have years of trading experience, have real on time quotes, know the world markets inside out dare to trade these markets. The professionals admit to have winning trades less than 50 % of the time.
This trading is for Sophisticated investors, Who have lots of money and experience.
The sites you talk about want to sell you on an idea, they make it sound fool proof, but don''t tell you about the "spread" and the time element involved.
Please.If you want to lose your money..Send it to me instead.. You will still lose your money, but at least I can get happy.
STAY AWAY FROM FOREX.
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