 |
 |
Hi HedgePiglet, although disheartening - I think you have a point. I'm trading from ZAR country
and seeking to be pro in my egy but it's kind of tough if you are attempting to work a dayjob and exchange following hours (I exchange US markets so back home for the US available). Not moaning or finding excuses, simply stating some facts
You are welcome.
It's been my experience that even the best regulated brokers are no guarantee of safety. I cite the CHF 'crisis' last January (or was it that the January before?) Where a HUGE spike in the Swiss Franc literally imploded accounts in a minute. I watched big brokers fold as a result, such as others and Aplari.
Something of an issue in the usa is that the reversal of the 'Frank-Dodd' rules that were implemented following the GFC to restrict action like hedging and excess leverage and there is widespread concern that the shift will create more exposure in US brokers but I suppose only time will tell.
Thank you very much for your nice article.
You proposed US broker , I haven't used in any US broker but that I appreciate all them , because their law is far better than any other people , but a lot of US brokers don't allow all trading techniques . That is why the traders who are beginners fall a great trouble. Can you describe more about?
Hi All,
Much of this is going to be a regurgitation of so lots of the things popularly said in here so I will say them again and again shine them up using a little fairy dust and attempt to answer the big question: Can I earn a fortune in Forex?
The brief answer is yes. Nevertheless, the back story is its very, very, very unlikely. The truth that there is little if any barrier to entry means you can sit in the desk looking at your own flavour of site plus 12 minutes later be 'brief' on pork belly binary options using 300:1 leverage plus a 95 percent drawdown. Then you will probably try again, reasoning that red have to be black the next time, which means you go 'long' on Oil (I mean, everyone knows oil right?) And wonder why the money leaves your account so quickly.
Many of you in here will understand me, some I've had the fantastic pleasure of meeting in person in which I think my credentials are valid. References available on request. (Not actually I am simply trying to offer you the reader the sense that this is not my first rodeo.)
The project I am involved in, in actual life works only with brokers and some banks and I've sat on my own share of board level meetings in which the fate of this newbie is shared, from selling your account into other brokers to a particularly colourful schemes to get you to part with your cash. Now, I am not indiing all are similar to this but they're out there.
What's important to realise is you're an individual, on your own, up against some of the very intelligent and well appointed organisations you may imagine. I've heard FX described as a zero sum game, in which for each #1 you lose its being snatched up by someone and while this is not strictly accurate it will shape a number of this environment you're in. To name a couple of things you're 'up against', we work with groups that have host farms sitting inside the GLOBEX or CME. One of our very own servers is connected by a lead into a data server where we measure in nanoseconds. The groups I work at stupid 'o clock every day with start and egists analyse the markets and keep a dialogue dwell with each other with 'sexy' positions being manipulated all of the time re-assessed and being analysed.
Now, to sit at your desk with your Galaxy S2 (or anything) and think you can compete both is nothing short of naive. You can't. You may win through a process of binary numbers (you can't flip a coin greater than a certain amount and be incorrect each time) but once I say you're up against systems that could probably predict the tail or head of this trade with around an 85% accuracy, the chances are somewhat against you.
Finally and probably in final since I could go on all day, you only need to appear at the numbers many US brokers need to publish around account functionality. While I have enjoyed my share of arguments as to their accuracy (?) The brief version is its probably only 2% of accounts generally generate a consistent profit over considerably more than a year. . .if you fancy yourself to be capable of doing in the top 2% of folks in here you're invited to get trading.
Happy to answer some meaningful questions if you've got some, otherwise hello to all you new people and happy trading.
And of course that those very same people often lose the cash they've profited just as quickly since they keep taking risks.
No, you can not get rich quickly, but you can gradually for less risk.
Trading using a 2% risk with a Risk/Reward of 3:1 compounded will construct your account steadily.
Some people have got rich quickly, but the majority of those who attempted it got poor quickly rather.
A lot of traders do end up losing money. Whether it's lack of discipline, subjective situation in their own lives that prevent them from trading, understanding, expertise, the rate of people who do not succeed is quite large, unfortunately.
I don t know greatest traders always think about success in Fx as a thing that is good. It simply. Do not see large dream when you are a newbie. Just set and achieve it. All preserve a trading area with consistency. Then success will come
Yes, it takes time, but it makes sense. Keep in mind that the important events moves the prices
I am trying to survive in this business, 5 percent monthly is good enuf
Reply With Quote