Forex education needed, words, robots, trading etc?
Friday, January 31, 2014
, Posted by Ryanita at 8:59 AM
broo204
I wanna learn what words, things needed to trade, how they work, when they work etc. I just need to get educated so i understand what things mean and do in the Forex market. thanks for the help.
I want websites that will teach me the lingo of Forex AND, I cant say that enough I am really interested in the forex robots, Fapturbo is the one i want after reading reviews. And am i able to use a forex robot without a broker, that is a very important thing for me to know. I dont need other info just these few things hope you can help. thanks guys : )
Answer
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. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap,com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
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.
P.S I have never heard of a automated Forex program for home use that actually works, although a lot of people on the internet try to hawk programs they claim work. However, I am sure the professionals that constitute most of the Forex market have better programs that you are able to buy. Once again, you are playing at a disadvantage.
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. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap,com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
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.
P.S I have never heard of a automated Forex program for home use that actually works, although a lot of people on the internet try to hawk programs they claim work. However, I am sure the professionals that constitute most of the Forex market have better programs that you are able to buy. Once again, you are playing at a disadvantage.
Free Forex Education?
Lica
Where can I learn about forex?
Answer
http://www.forextko.com offers FX education, real-time exchange rates, forex news, currency analysis, market forecasts and daily technical charts, Forex reviews of brokers, trading signal providers, courses, ebooks and managed accounts. They also offer a free book on forex for beginners http://forextko.com/Education
http://www.forextko.com offers FX education, real-time exchange rates, forex news, currency analysis, market forecasts and daily technical charts, Forex reviews of brokers, trading signal providers, courses, ebooks and managed accounts. They also offer a free book on forex for beginners http://forextko.com/Education
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