Investment Forum - FOREX Can we make money?
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raysor, Feb 21 2012, 20:34
raysor, Feb 21 2012, 10:39
Investment Forum » Beginners » FOREX Can we make money?
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Started by belphil Mar 25 2010, 12:34
Mar 25 2010, 12:34
I'm new to shares and play on AIM today, I received many advert/offers to play FOREX with wonderful ideas to make real money at a membership price of course. I have to say I'm tempted to pay £250 for membership but is it really worth to join and have a try on FOREX or my money will be better placed in shares?
Mar 25 2010, 14:33
I would think twice before I spent £250 on a Forex course. I think these sort of courses attempt to teach you some sort of 'system'. i.e. technical analysis. Now this cannot possibly work on it's own. If it did you could just buy a powerful computer, program it to recognise the 'signals' and watch the money come rolling in!
What I always say is there are three things that contribute to success in most, if not all forms of trading/gambling. They are: 1. Inside information 2.Knowledge/skill/experience and 3.Luck
Now we know, from recent events that 1. is a. prevalent and b. illegal. And that 3. Is to a great degree not under our control.
So, basically concentrate on 2. That means read , read, read, listen and learn!
What I always say is there are three things that contribute to success in most, if not all forms of trading/gambling. They are: 1. Inside information 2.Knowledge/skill/experience and 3.Luck
Now we know, from recent events that 1. is a. prevalent and b. illegal. And that 3. Is to a great degree not under our control.
So, basically concentrate on 2. That means read , read, read, listen and learn!
Aug 27 2010, 13:37
In reply to Belphils post and follow up from Raysor. You are entering a world that is similar to Horse Racing and there everyone wants to give you a “Tip” for the “Winners” but always at a price!! You will find all of these adverts on every Financial Site you care to visit all offering to show you how to make % profits in the 100’s + in hours. Have you seen them? “ Make Money while you are away from your computer” , “Make £1000’s from Red Hot Tips” and all such similar promises of easy money. You then get solicited to deal in CFD’S at lower costs and no tax. Great if you get it all right but if you get it wrong you are going to lose what you are hoping to invest and some of the ways are faster than others. Remember all of these tips are at a cost and that is going to come out of the money you hoped to make money on!! As with Raysors advice you have to “read” “learn” and “understand” before you commit and then invest on your own convictions and if you get it right good luck to you.
Dec 28 2011, 10:48
More useful sources for forex learning:
http://www.dailyforex.com/forex-basics : one of the best source for forex available online.
http://www.babypips.com/school/ : Complete forex school
http://www.avafx.com/ : One of the leading brokers of 2011. The best for demo or practice account.
More useful sources for forex learning:
http://www.dailyforex.com/forex-basics : one of the best source for forex available online.
http://www.babypips.com/school/ : Complete forex school
http://www.avafx.com/ : One of the leading brokers of 2011. The best for demo or practice account.
Dec 28 2011, 18:01
Your first post says it all "Forex is high risk" and this site is to help people discuss procedures and ways of investing hopefully successfully especially for beginners. Your subsequent post appears to want to push new investors into a highly risk averse way of making money and I do not think that you should be doing that.
Should people wish to do it allow them to look , learn and make their own decisions without you egging them on. Can you say hand on heart that with your experience that you claim to have that it has all been profit?? Come on - Pull the other one!!! Please make sure you tell all that you can lose far more than your original investment from the gambles when they go sour.
Your first post says it all "Forex is high risk" and this site is to help people discuss procedures and ways of investing hopefully successfully especially for beginners. Your subsequent post appears to want to push new investors into a highly risk averse way of making money and I do not think that you should be doing that.
Should people wish to do it allow them to look , learn and make their own decisions without you egging them on. Can you say hand on heart that with your experience that you claim to have that it has all been profit?? Come on - Pull the other one!!! Please make sure you tell all that you can lose far more than your original investment from the gambles when they go sour.
Jan 19 2012, 11:56
Hi J08PNB, Thanks you commented on post.
I think, each and everyone is free to take decision about trading by themself. The sources I shared are the best according to me. I do not think that forex trading is a gamble. If yes, then all trading format will come under this means stock, option, forex as well. In all trading format looser are more than winner.
Last edit: Paul75 Jan 19 2012, 11:57
Hi J08PNB, Thanks you commented on post.
I think, each and everyone is free to take decision about trading by themself. The sources I shared are the best according to me. I do not think that forex trading is a gamble. If yes, then all trading format will come under this means stock, option, forex as well. In all trading format looser are more than winner.
Last edit: Paul75 Jan 19 2012, 11:57