Should I divert my attention towards FOREX?

India
March 20, 2010 3:05pm CST
Well, I have been pulled and lured by the whole process of Foreign Exchange. I want to try out foreign exchange but before that I wanted to consult about that in mylot . Should I try it or not? Have you tried it?
2 people like this
12 responses
• India
20 Mar 10
very cool.. i have seen many wanting to try forex. i dont have an idea what forex is about.. what exactly is forex
• India
20 Mar 10
Forex means foreign exchange. See this for your reference : www.en.wikipedia.org/wiki/Foreign_exchange_market
• India
20 Mar 10
thanks yaar
@meowcow (936)
• Philippines
26 May 10
I have no experience on this but my friends have made tons off forex but it really did take them a lot of time to practice and stuff I guess. Same as anything. But they're pretty well off and happy with their jobs now so I guess that's good. Just don't put your money on anything stupid is the rule I think lol. :p
• India
26 May 10
You should give this a try, but prior to that you must know the pros and cons of this, it is better to consult some body in your place who is in this line already..hope this helps.. Sorry for late response.. Thanks for sharing. Welcome always. Cheers. Prof
• India
17 May 10
try man.. first use practice account once u get a confident and then go for real money. but important thing is good forex trader is needed and use low leverage
@srijshm (1165)
• India
21 Mar 10
What a pity even the previous comment is totally wrong & not of great help. Forex is certainly not like stock market. Because: 1) In Forex one can make a lot of money even when a currency pair is falling. 2) There are no brokerage charges in forex. 3) Forex is much more lucrative or riskier because of leverage. ( you can leverage your money even 200 times in forex). This means that you could make a lot of money or loose a lot of money. Well! your question is about deciding on forex. Answer is yes ! take a plunge into it without risking your money. Almost all forex platforms offer you a free demo account, practice practice & practice. learn about forex graphs. There are many indications that one needs to master. Once you master you may go into real trade. second point to consider is that if you are considering to start trading with 50 dollars do not go into forex. Once you have mastered the art go into forex trade with about 1000$ investment. This will give you leverage to diversify your portfolio & do a lot of small trades which are less riskier. My favorite online earning option is forex & i Mylot on weekends when forex is closed. The biggest plus of forex is that if you master it, you need not look at any other online earning options.
@bucklord (349)
• United States
21 Mar 10
I have never tried it, but like many others I am curious. Please do let us know when you get familiar with it.
@marketing07 (6266)
• South Korea
21 Mar 10
i havent tried forex..if you think its a good idea..you give yourself a try..but you must be careful..goodluck
@satya4186 (280)
• India
21 Mar 10
hello my dear always i think about the real earning but i have not enough corsage to invest money in forex .because i have Liston to many people that all are fraud that's why i am afraid to this type of system but i am not saying all are wrong me this will a real earning site so friend i request to you please inform me when you get benefit by this forex then i will too invest money.
@yresh12 (3217)
• Philippines
20 Mar 10
I think that forex is a very good earning site. Unfortunately, I think that you have to invest before joining,Which is my problem. I don't have enough funds to do so...
• United States
20 Mar 10
i think that you should probably research abit more on it. it is better to know something of what you are doing than to not know about it at all and then messing up later on. there is always new ways to try out foreign exchange though. i dont think it would hurt to try it out.
@Wismay (2038)
• India
20 Mar 10
Forex trading is one of the best things to be considered. It takes time to learn Forex trading but is surely an exciting thing! Recently I have started and I found it to be very interesting. You can start with a practice account and once you are confident that you know all the basic things perfectly then go for standard account. Wish you the best!
@saphrina (31733)
• South Africa
20 Mar 10
I have never tried it. But give it a go and see what happens. I am sure you will get the hang of it. Then you can let us all know. TATA.