Forex
By alvingb
@alvingb (265)
Singapore
May 15, 2009 11:37am CST
Hi people in regards to making money online, i realise that forex is becomming the next big thing. Many people i know are taking up forex. However there is this dilemma whether will you be really able to make money out of it or end up losing everything that you put in and making it worse going into debts.
Therefore the question is, is forex for all or just for professionals whow know what they are actually exchanging. Is forex advisable to get into? do comment. I am looking at getting into a forex thing where you can pay by paypal.. anyonce can suggest any credible sites..
Best regards,
alvingb
2 responses
@alvingb (265)
• Singapore
16 May 09
Hi,
The basic concept of forex is that you buy and sell currency online and make the profit of selling them. So basically you buy low and sell high.. This comes in currency like USD, EUR and et cetra.... The primary thing that one have to know is when to buy(when you decide when it is the best or lowest price to buy) and whento sell(when you deicide is the best time ti sell which is the highest).
Understanding these concepts in my opinion is crucial..
Best regards,
Alvin
@oudine2 (147)
• Argentina
5 Jun 09
As said before, it´s not for professionals, but you can study enough to learn how to trade, just don´t jump in without knowing what you are doing.
You have to lear about:
leverage, money management, trading psychology, and you need a system to trade. I strongly reccommend you to play with virtual money before jumping in the real arena. Try the broker that´s in my profile for virtual trading and for 5 free bucks to trade in the real arena. I have been trading with them for 3 years now.
Good luck!
