About trading easy-forex?
Tuesday, March 25, 2014
, Posted by Ryanita at 10:57 AM
Md Parvej
I would like to trade currencies online using easy-forex.. but i really don't know much about it..
How much they charge for each trade?
How much fees i should pay every month minimum?
If i make some money from trading will it be transferred to my bank account immediately, or i should cancel my forex account to have my money back?
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 similar to 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. The net winnings of everyone combined equals zero. 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.
Read the warnings in the links below:
Source:
http://www.cftc.gov/opa/enf98/opaforexa1...
http://www.smartmoney.com/investing/stoc...
http://en.wikipedia.org/wiki/Forex_scams
http://www.cftc.gov/ConsumerProtection/F...
http://www.cftc.gov/ucm/groups/public/@c...
http://finance.yahoo.com/banking-budgeti...
Asker's rating & comment
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 similar to 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. The net winnings of everyone combined equals zero. 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.
Read the warnings in the links below:
Source:
http://www.cftc.gov/opa/enf98/opaforexa1...
http://www.smartmoney.com/investing/stoc...
http://en.wikipedia.org/wiki/Forex_scams
http://www.cftc.gov/ConsumerProtection/F...
http://www.cftc.gov/ucm/groups/public/@c...
http://finance.yahoo.com/banking-budgeti...
Asker's rating & comment
What is the hidden game in Forex Trading?
Q. I feel there is a game in Forex trading but i'm not able to figure it out. I feel it's not transparent as all broker companies pretend, can any one advice me, is my feeling right or wrong?
--
FX Mania
http://www.geocities.jp/fxtrading777/
--
FX Mania
http://www.geocities.jp/fxtrading777/
Answer
the Forex doesn't have a central organism where currencies are dealt. You have to think of it as the global exchange of currencies. If you go to a bank and buy US dollars with your local currency then you have participated in the forex, in other words you have participated in that global exchange. But the idea is much broader. Forex includes the exchange of goods and services, investment transactions, speculation and everything else involved with money, even when you purchase something in a mall for your own use. All this is hardly transparent which makes it difficult for the layman and not so layman. Thats the nature of the Forex but it doesn't mean you can't make consistent profits from this enormous market.
A complex system such as the worldwide exchange of currencies can be narrowed down to relatively simple concepts for you to use. However, exactly because of this reason and it's low transparency, many scam artists arose to sell supposedly "profitable" trading strategies.
Be careful.
btw, there's no game. Forex is just forex, it can't be manipulated like a stock for example. The currency market is too large to be manipulated with the idea of scamming people.
the Forex doesn't have a central organism where currencies are dealt. You have to think of it as the global exchange of currencies. If you go to a bank and buy US dollars with your local currency then you have participated in the forex, in other words you have participated in that global exchange. But the idea is much broader. Forex includes the exchange of goods and services, investment transactions, speculation and everything else involved with money, even when you purchase something in a mall for your own use. All this is hardly transparent which makes it difficult for the layman and not so layman. Thats the nature of the Forex but it doesn't mean you can't make consistent profits from this enormous market.
A complex system such as the worldwide exchange of currencies can be narrowed down to relatively simple concepts for you to use. However, exactly because of this reason and it's low transparency, many scam artists arose to sell supposedly "profitable" trading strategies.
Be careful.
btw, there's no game. Forex is just forex, it can't be manipulated like a stock for example. The currency market is too large to be manipulated with the idea of scamming people.
Powered by Yahoo! Answers
Currently have 0 comments: