Forex Trading System

1. 5 Responses to “how to trade with Forex?”

2. By Joe on Dec 29, 2009 | Reply

   Jack

   Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.

   Forex is what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

   Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

   There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

   Further complicating the problem is the large number of Forex Scams on the internet. Most Forex websites are of questionable honesty.

   I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

3. By Bitstorm on Dec 30, 2009 | Reply

   Krystal

   You might want to check out the websites of the better brokerages, one of them is fxcm. They have videos explaining the account functions.

   Make sure you chose a reputable firm…

   The Forex Market is for most people difficult, not so much because of its low transparancy but because we tend to react emotionally whenever money issues arise. Most novice traders are faced with this common personality trait. How would you feel if someone gave you a million dollars or more? Or how would you feel if you lost $2000 or more trading? The simultaneous potential of making high gains and losing an account (in some cases their shirt) “polarizes” one if you will. It’s all available on the Forex but you won’t get it the easy way, eventhough it’s easy and cheap to open an account .

   If you can distinguish fact from bogus well and are willing to work, make an “icecold” analysis of the charts and ban every single emotional attachment to money, YOU CAN MAKE CONSISTENT PROFITS , no matter what others say.

   You might want to read my other posts about Forex Trading to expand this answer.

   things to remember:

   - there’s no holy grail, you are warned when someone advertises a promise
   - be wary for scams, the net is full of it
   - take your time in studying trading with technical analysis, you can’t get rich quickly.
   - forget fundamental analysis, it’s too complicated, even for bankers and other pro traders.
   - mechanical strategies are less effective compared to organic strategies
   - if you’re not succesful with a demo account you certainly will not succeed with a real account.
   - Don’t let people tell you what is and what isn’t, or what works for you. There will always be potatoe heads who want to mess with your mind.
   - The Forex isn’t setup to work against you, it can’t be.
   - Accept the occasional loss

   Here’s a must see website for novice traders

   Unfortunately there’s no option that will grant you instant success. Giving or selling someone a strategy doesn’t guarantee success at all.

4. By Ronald on Jan 1, 2010 | Reply

   Ardelia

   There is quite a lot of money available in the Forex Market if you know what your doing.. unfortunately that takes a long time to master.
   I definitely recommend metatrader (mt4) expert advisors (robots that trade forex automatically for you)…

   For info about the many different brands\versions and types check out this blog:

5. By Suzane P on Jan 2, 2010 | Reply

   Len

   The good thing about Forex Trading is that you can learn it risk free. Yes, risk free! All you need to do is open a demo account with any forex broker. You can do that in five minutes on the internet and start with forex trading. On the demo account, you will be provided with real time data that you can use to make buy/sell decisions but you will be using fake or virtual money. Since you are not using your real money, you are not going to lose even a single cent. If you want to play tennis you need to practice. Same with forex trading, with a practice of a few weeks you will be confidant enough to start live trading.

6. By Parley on Jan 5, 2010 | Reply

   Juan

   The Forex Market is full of scammers and people who sell questionable products than make them rich and not you. I would advise against Forex Trading. You are likely to lose your money. Forex is useful to companies that make money in one country and need to exchange it for money in another country, but most individuals who trade Forex lose money. Your best bet is using a registered forex trading firm who charge only based on performance

Sorry, comments for this entry are closed at this time.