Forex can make BIG profits...

Australia
February 26, 2010 6:48am CST
I have recently had a practice account wih etoro forex traders and had a flutter with a make believe $2000. I had never tried Forex trading before but had an idea of what it was all about. I have to say, I enjoyed myself thouroughly! You invest in currencies. Say, you buy $500 canadian dollars against $500 american, the value of the canadian dollar to the american dollar will fluctuate depending on the current value to the world market. I watched some of these trades skyrocket and plunge, but even with only practise money where I am learning and splurging with fake money, I still have broken even after the past few days. In fact, by the graphs the program has I should be looking at a profit very soon. My first night of using it, after 5 hours I had profited $20. I bought another currency and next morning had profited another $20. Now I don't know about you, but that seems like the easiest $40 to make OVERNIGHT!! I know it's only fake money, but if I HAD been using a real investment... Well, I would be a very happy man right now. I have also heard of Forex 'Droids', a virtual robot that can predict fluctuations in the market using previous data and I can only guess current news feeds... These 'Droids' when set on auto-pilot buy and sell currencies for you at the appropriate up and down times. So now I have to get my hands on one. Haha. My aunt was the one who said to give it a go, she told me she had put in $100 to a program her housemate set-up, then 4 months later, he gave her $4200 as profit from the program... Has anyone else used Forex and had success? Has anyone used a droid before? Does anyone here actually use this as an income source?
1 person likes this
3 responses
@jennybianca (12912)
• Australia
27 Feb 10
So with Forex, you can join and try "practise" runs first, before you try real money? Is that how it works? Can you PM me the link?
@LeeHolt (433)
27 Feb 10
Hi Brad, Like I said in your last discussion, please PM me for some learning resources that I used when I started out as a forex trader. I'm still learning now, a long time on! I hate to see people go into the forex without education, sure way to blow accounts. You need education, and practice. Lots of it. Secondly, nah don't go for one of those robots, i've seen a few in action and they aew pretty useless, remember, they say they can predict the market, but the market is unpredictable. Imagine your trading the EUR/USD, your program looks at historical data, forecasts that it's gonna go bullish, initiates the trade for you. Obama speaks and it goes a bearish. Your account is gone. Thirdly, eToro, ugh is all I can say. Tried it and didn't like it one bit. I would reccomend a proffesional trading platform if you want to get anywhere. Most Brokers will offer one! My broker, Oanda, offers a great platform! Hope this helps, Lee.
• Australia
27 Feb 10
Hi Lee, Thanks for the input, will definetely check out Oanda. I'll send you a message about resources! Brad
@rookiekan (882)
• China
26 Feb 10
i have started to learn forex trading,it's a really risky and high-profit business.everybody who enter this market r all wanna make a big profit,but u should prepare to lose ur all money u have invest into forex market before u could adjust ur mood and skilled trading technical.
• Australia
27 Feb 10
I see what you mean rookie. You just have to hope you choose the right currency to trade and know when to put your stop loss on it.