What is Forex trading? Is there some seroius money

Sweden
November 4, 2008 2:17am CST
Hi! I´m wondering what forextrading is and if ther´s some serious money to be made there?? Otherwise I´m open to suggestions to any programs you might recomend
4 responses
@owlwings (43915)
• Cambridge, England
4 Nov 08
Forex trading involves buying money in one currency and selling it in another. The principle depends on differences in the exchange rates between different currencies. It is a risky market for those who don't have knowledge and experience. It is necessary to have quick reactions, a reliable broker who doesn't charge too much commission and nerves of steel. The profits on individual trades are quite small but one may make several trades a day and, over time and with experience and luck, it's possible to make a good income. There is another method called 'spread betting', which may or may not be legal in your country. This is a method of gambling on the rise and fall of stocks on the stock exchange. Again, this involves expert knowledge of the way prices work and, like any betting, carries a good deal of risk. One may bet, for example, on a rise of £100 per point. If the stocks rise 6 points in the period, you get £600 but if they fall, you will lose. If you are thinking of trading in this way, you would be well advised to pay for training. There are companies which can sell you training in both of these markets. A few of them are genuine and do guide you through the process and provide tools to assist with recording, predicting (as far as possible) and dealing. Unfortunately, there are many which are less than responsible and are only out to sell their 'system' or maybe just an e-book. Those companies are the only winners in that market! [b] As with any investment, never invest more than you can afford to lose![/b]
• Sweden
4 Nov 08
Man that sounds right up my alley, do you know if there are books and stuff that I can read about this??
• Sweden
5 Nov 08
Myhpf banned me a couple of weeks aga, for no reason what so ever. I have many referrals who avarage 20-30 and I myself average 10-20 searches a day. Then out of nowwhere they banned me. And I think they did so because I was waiting for at 90GBP payout.
• Australia
4 Nov 08
I recommend the program MetaTrader you should download and set up a free account to trial the software. It seemed easy to navigate but would take a long time to master. I still use the software now and again, I'm trying to create an EA.
• Sweden
5 Nov 08
Thanks for the info I´ll defenatly go and check it out
• India
11 Feb 09
thnx for the advice!!
@kiinin (335)
4 Nov 08
Hi Adamantix, Forex trading are all terms used to describe the trading of the world's many currencies. The Forex market is the largest market in the world. Most Forex trading is speculative, with only a low percentage of market activity representing governments' and companies' fundamental currency conversion needs. I suggest that if you don't even understand what Forex is it.. Please don't get into it. If you're serious in making money, I suggest you drop by my profile and take a look of the EZ Wealth and MefaLido which I've join... cause I've make some money from there.. Happy myLotting.. CHEERS!!
• Sweden
4 Nov 08
HAHAH ok man thanks for the advice. The thing is that I´m really good with numbers and my friends told me that I should get into forex trading and make some serious money =) Btw thanks for the advice on the other programs, I´m off totake a look at them now =)