Forex seems appealing....But afraid to step in

@narnia007 (1050)
India
January 27, 2012 10:36am CST
Hello mylotters.Forex seems to be so easy to earn money.Although it is highly risky,but if you come to know about the tips and techniques of trading there,you can succeed.There are many websites online here guiding you to earn money from there.It seems to be easy to work it out.I have tried some trial sessions in etorro.It worked out.But will it be the same with my real money????Thats the thing that is holding me back from investing in there.Even experienced traders who earned huge amount of money seem to lose sometimes..What are your views??..Any of you guys have some tips regarding trading there for sure winning?
13 responses
@Yasya08 (213)
• Israel
27 Jan 12
try trading with no-deposit bonuses brokers offer. like $100 from Forex-Metal.com
@narnia007 (1050)
• India
1 Feb 12
Thanks for the tip yasya08.no deposit bonus will give a head start into forex without the fear of losing money as a newbie in the trading world.Have you been trading there??
@Yasya08 (213)
• Israel
3 Feb 12
Yes, I participated in their $20 bonus promotion some time back and from that moment trade with my money because my experience is very good and I like this broker.
• Norway
14 Feb 12
It do not seem to me that Forex-Metal.com has a good reputation when it comes to payment. I have no experience with them, but from what i could read from some of those ho have experience they are not satisfied..... Personally i have tried eToro.com. And they seem very professional. I have only tried the "test account", but so far my experience is good. And i am learning a lot...:-)
@sirnose (2436)
• United States
27 Jan 12
Forex Trading  - A simple way to earn big bucks or lose it in the process.
A total scam, no one has ever made money from this "ponzi Scheme." You are right to be skeptical because you will never see a dime from your investment. No, it won't be like the trial runs, the trials are design to bait you in, so that you will feel confidence in spending your money with them. Gambling seems easy also but how many people are making a living from it. "It's a sucker's game."
@narnia007 (1050)
• India
1 Feb 12
wow.Such a total downside regarding the Forex trading.Have you entered Forex trading before and lost money??..I can say that it is almost equal to gambling,but being a total scam-I can't agree with you.There are people out there who earn from Forex. Of-course with proper study and analysis of market and trading safely.If you have any personal experience with Forex,please do share it with us.
@sirnose (2436)
• United States
1 Feb 12
Forex Scam - No one can earn money from this venture.
I have never known anyone to earn or make a living from this so-called Forex Trading. There are Mylotters here who swear that they earn from this scheme, but if you press the for proof they can't produce it.
@GardenGerty (157551)
• United States
27 Jan 12
Like you, I have been very tempted. I have not tried forex. I have done a tiny investment in hyips and lost them. If you do not risk more than you can afford to lose, I guess you are okay. I may get brave and try it myself.
@narnia007 (1050)
• India
1 Feb 12
Yes.I am very tempted to enter this field.At the same time,equally afraid to lose money.I am first gathering the money that I can afford to lose here.So once I get enough money to enter,I will try my luck there.Hope to get successful as I am entering after through study of how this system works.Hope to see you soon there.Regarding hyips,I heard that those people use our money inverted money in entering stocks and forex and thus give us high interests.But soon after some time,they loot with all our money.I don't trust those sites..Happy mylotting.
@spndr7 (67)
• India
31 Mar 12
Ya exactly I have tips for almost sure winning.Its unpredictable to a certain extent so 100.00 % cannot be guaranteed.Patience and fresh mind is needed when you enter a trade.Do you use BUY-STOP and SELL-STOP orders ? Using them alone can place you in absolute control with no chance of losing even a cent of money . Several strategies are there, I use the following fast stochastic,ADX,Ichimoku, and Awesome Oscillator .If anyone more interested I will start a separate thread for tips in forex trading.
@narnia007 (1050)
• India
29 Apr 12
Yes.I would like to hear more of your strategies in forex.Please do share with us.
• Philippines
28 Jan 12
Yeah, I am also looking in trying my hand on forex. But what's holding me back is that I have little to no knowledge on how it works. I still need to educate my self first on how the system works out and how I can make money through it. I am currently trading with stocks and I am already getting the hang of it. That is why I am looking for other ways to put in my investment to diversify my portfolio. Maybe late this year or next year I will give Forex a try.
@narnia007 (1050)
• India
1 Feb 12
There are several online resources that help you to learn about forex.Since you have already doing stocks,you will learn much quicker.Share your ideas regarding stocks trading.What platform do you use??Is there any resources to learn about them??What are your strategies and tips in trading stocks.Please do share with us.Happy mylotting.
@valexer (47)
• Philippines
12 Feb 12
It is really risky to be involve in forex. My suggestion for newbies is to learn fores and understand it first before getting involve in it or else you will loose your money in an instant.
@jlamela (4898)
• Philippines
9 Jun 12
I am also very interested to learn the techniques and tips how to do the forex trading online. It would be nice if there's some sites that offer good information how to do it successfully. I am afraid of scammers and other illegal transactions online so I want to make it sure that it is the right one. Thank you.
@irene66 (1669)
• Philippines
28 Jan 12
You can really earn big bucks in forex trading. That is if you know the ins and outs of it. But again, how will you learn the forex trade if you do not like to risk? I think in every money we earn either offline or online, it starts with trading with "something"
@emma90 (530)
• Indonesia
15 May 12
Not speciall tips in forex. you have to control your emotion and control your self, and you should be read the market. I think so easy learn forex. I just spent 3 month to study that, and now I still study about forex, cause so many development of the technical analysis :D good day
@succeednow (1633)
• Singapore
27 Jan 12
Hi narnia007, It does look easy doesn't it? Buy when the trend is going up and take profit when the price goes higher and sell when the trend is going down and square your position when the price is down further. Quite sensible. But how do you know which direction is the trend going and how long will the trend last? Maybe there's no trend but the price is just moving up and down? If you're purely making a guess on the trend direction then you're indeed gambling. You may be lucky for a couple of trades but sooner then later you'll lose all your money. The Forex market is just too smart for newbies! Just a warning to those contemplating forex trading. Do you know that 95% of new forex traders lose money? What makes you think you can be in the 5% who makes money from FX trading? Before you trade using real money you must get yourself educated first. Otherwise you'll be eaten alive. Learning to trade FX sucessfully takes a lot of effort and time. You'll not only have to understand the method but you'll also need to know money and mind management as well in order to be successful. Have a nice day.
@narnia007 (1050)
• India
1 Feb 12
What you have said is absolutely true.But with proper study of the trading tools,no can make profit there.Regarding the trend lines,one can predict its trend using various trading tools.Though these tools are not always true and predictable,an safe and anticipating approach towards trading can yield some benefits.Hope to be in that 5% people who are successful there. Happy mylotting.
@crystal11 (157)
• Malaysia
11 Mar 12
Go to this website http://www.babypips.com. This is the best site, in my opinion, which gives a lay person an understanding of trading and the different indicators available. Check it out! If you want to demo or trade live later, you have to make sure that the broker has certificates on its website that links you to the Financial Services Commission or FSA and that they also have a physical office and an address. Most important is the certification! Nothing is 100% profitable. There will be losses but the important thing is to keep them minimal. As long as the nett effect is a profit, that's the goal!
@jkct02 (2874)
• Kota Kinabalu, Malaysia
28 Jan 12
Before you put in your money in any "investment", you have to make sure you understand what it is. And there is no "Sure Winning" tips in investments. Forex companies are not fools. They want to make a profit too. You can earn in Forex but you have to study more and try to know the terminologies. Chart reading is important as well as paying attention to happening around the world. Internet is full of Forex resources. Just be cautioned: when you have the feeling that it looks more and more like casino to you, it means you are in danger. Investing is doing a 70% or higher calculated risk task to earn. Gambling is 50% or lower.
@Redz85 (5)
• Cairo, Egypt
27 May 13
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