Forex Trading

@ebusaf (329)
United States
September 25, 2007 8:51am CST
I came across some info programs late at night on tv. It was talking about making money through Forex and I have no idea what this is. Does anyone know what this is, and is it legit?
2 responses
@murciaman (441)
25 Sep 07
wow..this is a BIG question....first of all Forex stand s for Foreign Exchange....because world currencies have different values against each other it is possible to make profits by buying and selling different currencies..thats the easy bit..the hard bit is making the profits in the first place because the foreign currency markets fluctuate so quickly..it is high risk and you have to be careful..there are lots of people out there on the internet who have e-books and or courses to teach you the methods of making transactions in foreign currency markets...i wouldnt dabble personally ..i think it is to high risk....trained and very intelligent people work in the city doing exactly this..the difference is they are gambling with other peoples money .. and they do make big losses from time to time..for you as an individual you need to have a decent wedge of cash behind you in the first place and as i said it is a very quick and volatile environment ..you need a pc and soiftware that will enable you to keep ttrack of the major curency fluctuationjs..you also need to be very disciplined and organised..(that counts me out) if you wnat to know more ..if i havent pout you off that is ..take a look at http://forexexplained.blogspot.com..there is a FREE e-book on this site in the side links plus other links to enable you to gain more knowledge...good luck....keep us posted...
@ebusaf (329)
• United States
25 Sep 07
Well I think I'll have to pass because when you said disciplined and organized, that certainly isn't me by a long shot. Especially the organization part of it. I can't find a matching sock, so I definitly have to erase this thought out of my mind.
@aowaow (1517)
• Indonesia
7 Oct 07
No everyone suit to forex trading. Broker just love the guy who is near the cliff's end. Keep your money safe in bank, never transfer thru internet. If you want to play forex, use your banker's line. So you will know to whom you keep the money with.