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Forex trading, great way to earn money

  1. kkavya profile image60
    kkavyaposted 7 years ago

    Hey guys, just curious to know if there is any forex trader here.

    1. starme77 profile image86
      starme77posted 7 years ago in reply to this

      I would play the free game thingy they have , where they give you a free account and fund it with like 50,000 fake dollars and you trade the real market with it .. I have done it , it is a great way to learn

      1. kkavya profile image60
        kkavyaposted 7 years ago in reply to this

        its good that u r trading on demo, trade it like 2-3 weeks, join any forex chatrooms like  http://www.ircforex.com/chat/ or etoro chat or whichever

        many traders discuss forex things there and u will surely learn many things there.

        when u think u r ready then open an account in real.

    2. profile image0
      ryankettposted 7 years ago

      Great way to lose money.

      1. Karina S. profile image60
        Karina S.posted 7 years ago in reply to this

        I agree with you

    3. KCC Big Country profile image83
      KCC Big Countryposted 7 years ago

      Type in Forex in the search box and you'll find quite a few hubbers who have written about Forex Trading.  Mark Knowles is one.

    4. Len Cannon profile image88
      Len Cannonposted 7 years ago

      Even your avatar shows you losing money.

      1. profile image0
        Leta Sposted 7 years ago in reply to this

        Hahaa...that's funny!  smile

        But actually, as I look at it again, that's no true.  That's just one of the markers for average moving indicators on the Forex charts.  Has nothing to do with losing money...just how currencies are moving.

        Am learning...

        1. kkavya profile image60
          kkavyaposted 7 years ago in reply to this

          Lita its great u r learning forex. I advise u to first learn how charts behave and use tools like fibonacci and pivot points and i am sure u will gain an income which can make ur living.

          1. profile image0
            Leta Sposted 7 years ago in reply to this

            I've been studying a few years longer than you, smile, so yes, guaranteed before I use any actual money, I will know the process inside and out.

            There are other traders here you might learn from.  Mark is one, I hear (I'll have to check his hub out), and so is Iphigenia.  She evidently actually turned a substantial profit...albeit on a demo account.

            1. kkavya profile image60
              kkavyaposted 7 years ago in reply to this

              I will have no problems in learning as human sharpen his skills from learning and practice. But here peoples looks like opposite to forex.

              Lita r u still on demo

      2. viryabo profile image86
        viryaboposted 7 years ago in reply to this

        lol

      3. thranax profile image52
        thranaxposted 7 years ago in reply to this

        ROFLMAO!!

        ~thranax~

    5. kkavya profile image60
      kkavyaposted 7 years ago

      lol len cannon, actually not, if u can follow some basic rules then forex is very good. Its just like selling it when u think its price will go down and buying when u think it will be up.

      I am not here to advertise forex at all but just want to introduce myself to forex traders and other peoples.

      Ryankett: mate howz great way to loose money, have u tried it.

      1. profile image0
        ryankettposted 7 years ago in reply to this

        Ask yourself who is losing, ask yourself how the forex businesses stay open. Every time you gain money, ask yourself where that money is coming from. Every time you lose money ask yourself who is gaining. Less money comes back out then goes in, like a slot machine, you can slap figures in front of me if you wish - but seems simple to me.

        1. kkavya profile image60
          kkavyaposted 7 years ago in reply to this

          Ryan, i am sorry if i somehow hurts you. yes there are many who looses here too. But with correct techniques, patience u can succeed too. From my experience the main reason for loss is " Overtrading". There is nobody who doesnot suffer a loss in forex.

          1. Mark Knowles profile image60
            Mark Knowlesposted 7 years ago in reply to this

            Rubbish. You are 20 years old with $2000. You cannot even afford to buy a standard lot. wink

            1. kkavya profile image60
              kkavyaposted 7 years ago in reply to this

              whats ur standard lot, u r from australia and i knows u has to pay like 45% of earning as tax, so may be u need some big lot, i am happy with  3$ per pip lot.

              1. profile image0
                ryankettposted 7 years ago in reply to this

                hahaha Mark, stick another shrimp on the barbie will ya mate?

                1. Mark Knowles profile image60
                  Mark Knowlesposted 7 years ago in reply to this

                  LOL

          2. profile image0
            ryankettposted 7 years ago in reply to this

            Doesn't hurt me mate, makes me laugh. Take from that what you wish, heard it all before mate. Secret formulas, secret techiques, all the same crap. Forex is glorified gambling, its just a bookmakers for the middle classes. The ones getting richest on forex are the ones taking the bets. I prefer to buy real life shares in real life businesses, which pay real life dividends on the back of real life sales. Each to their own though, it's not like you are doing any better than me is it? You are boasting about having $2000. People in my country pay that per month in rent for a family home, so come back and show me when you have £2 million in your bank account and I will give you the time of day (and yes that is pounds). I guess that you are from the thitd world? My girlfriend spent more than that on a handbag; and she didn't need to gamble to pay for it.

            1. kkavya profile image60
              kkavyaposted 7 years ago in reply to this

              ok, i have not told if there are any secret stratigies out here to  trade on forex. If u r good in it then u will surely earn money in it , thats for sure!!!

              Also, i earn part time from forex and after my collages i may become big investor and earn living from forex too. You may be rich but u can be richer using forex.

              1. profile image0
                ryankettposted 7 years ago in reply to this

                I'm not rich, I am the opposite to rich. But I know investors, I know people working in equities I can assure you that you will never become a big investor. You cannot even write a coherent sentance, you can't spell, who is going to give you that job? Sorry to break it to you, but that is an exclusive club for those that are ALREADY rich. And educated.

                1. kkavya profile image60
                  kkavyaposted 7 years ago in reply to this

                  Haha, i knows u r not rich. Person is not rich by money but rich by his ideas and his attitude towards other people.

                  I am not here to insult anybody or embarrase anybody.

                  Also i am not a phd in english to write coherent, symmetrical sentences, i am here for forex discussions. i am doing my engineering degree and forex is part time income to me.

                  1. profile image0
                    Leta Sposted 7 years ago in reply to this

                    Yeah, maybe. You are only 20, so?  The way you write DOES affect people's perception of you, and what you are trying to say, however.  Especially on a writing site.

                    But I have done enough reading to know that Forex isn't gambling or the rich man's way to burn shrimp--IF approached correctly.  There are scams around all kinds of legitimate enterprises waiting for suckers and easy-money and status grabbers.  (LOL, ie, and sorry, Ryan...I've never paid $200 for a handbag, smile.  My several $70 ones do just fine.)

                    After I finish reading the books I have, I'll continue with the demo account...and take it on from there.  I'm not starving or anything, but I like the idea of trading for an hour or two with small pips for additional income I will further invest.

                    1. kkavya profile image60
                      kkavyaposted 7 years ago in reply to this

                      Lita atleast u become real here, people still think of old days where only big guys like banks or millionares can trade forex. Nowadays small investors like us can also trade forex.

                      Lita one advice from my personal experience will be that
                      " trading on real account is great learning for forex" because on real account u feels the emotions of loosing or gaining money which are not that same with demo.

                    2. Mark Knowles profile image60
                      Mark Knowlesposted 7 years ago in reply to this

                      Lita - take it from me - forex is gambling, pure and simple.
                      It is not only gambling, it is highly leveraged gambling with an extremely high risk involved. In fact, so much risk - I guarantee you will lose whatever you "invest". An hour or two with small pips? Say bye bye to whatever you put in.

                      You cannot play with small amounts of money in this game. It is a zero sum game and the boy with the biggest bank roll almost always wins. Read this to find out why you cannot win:

                      http://hubpages.com/hub/Forex-Trading-a-guide

                      You are the sucker if you use any sort of leverage - which you have to do if you are playing with small amounts. Forex is a game for the large institutional banks and you have been conned into thinking that is to exclude the "common person" LOL I am surprised at you.

                      Seriously - you are better off at a blackjack table. At least you get a free drink.

                      But hey - you might get lucky. lol

          3. Bovine Currency profile image60
            Bovine Currencyposted 7 years ago in reply to this

            Trading is a gamble.  If you are disciplined it will work.  Even the best can lose the lot tho.  Mail on Sunday had a great article about a City trader in London, royally screwed so many people including himself.  Unfortunately, his action and those of big traders affect all of us, just don't trade(gamble) more than you can afford to lose, simple.

    6. Mark Knowles profile image60
      Mark Knowlesposted 7 years ago

      Learned all I need to know right here. wink

      Probably never made a forex trade in it's short, uneducated life. lol

      1. kkavya profile image60
        kkavyaposted 7 years ago in reply to this

        Mark knowles, don't underestimate a 20 year old. i am noy uneducated. i am earning an engineering degree and will become electronics engineer in 2 years. Although forex has nothing to do with age and education, just knowlegde and common sense.

        1. Mark Knowles profile image60
          Mark Knowlesposted 7 years ago in reply to this

          Nonsense. You are a liar. You are day trading forex? LOL

          What is your bankroll?

          1. kkavya profile image60
            kkavyaposted 7 years ago in reply to this

            i believe with day trading u means intraday trader. Yes i trades intraday with one broker and long term on another broker.
            I have around 2000$ now to  trade.

            1. Evolution Guy profile image60
              Evolution Guyposted 7 years ago in reply to this

              $2000 ?  Split between 2 brokers? LOL

              That is not forex trading. You would be better off at a blackjack table. At least you get a free drink.

              ciao

              1. kkavya profile image60
                kkavyaposted 7 years ago in reply to this

                may not be good for you but good enough for me to make 300-500$ per week

    7. Misha profile image75
      Mishaposted 7 years ago

      Got quite bored Mark? lol

      1. Mark Knowles profile image60
        Mark Knowlesposted 7 years ago in reply to this

        Oh yes. smile

    8. Uninvited Writer profile image82
      Uninvited Writerposted 7 years ago

      You could come to the religion forum and enter an enlightening conversation:

      Santa Clause(sic) causes Atheism

    9. kkavya profile image60
      kkavyaposted 7 years ago

      Ok, peoples i believe u misunderstood me. I am not here to sell any stuff like e-books, videos and others.
      I am just here to ask whether there are any forex traders here or not.

      But people's response is really surprising. They take on me instead of talking about forex.

      If you don't like forex then its ok but don't insult forex saying that its gamble as good  traders knows its not gamble at all. Its not everybody cup of tea, that also i knows!!

      So any interested traders may discuss about forex here, i will be more than happy to talk about forex to best of my knowledge.

    10. profile image0
      Leta Sposted 7 years ago

      Agreed, kkavya.  I've read that, too.  I'm a bit conservative with my $$, however...and by that I mean, I need a thorough understanding of whatever I'm doing before I approach it.  Don't feel I'm there yet.  From there on, the highs and lows and losing some $$...I'll consider it like maintaining a GPA, wink.  lol  The average, trending upwards is what counts.

      If you really are doing what you say at age 20, you are smart.  At that age I was waiting tables while in school.

      1. kkavya profile image60
        kkavyaposted 7 years ago in reply to this

        Lita for starting or infact right now what i used for trading forex  are 3 important things.
        1) Waiting for right moment to enter
        2) avoiding overtrading
        3) use of Trendlines, Fibonacci and News( fundamentals)
        That helps me great time.

        1. profile image0
          Leta Sposted 7 years ago in reply to this

          Yep, (most of) that material is in the books, smile.  Won't give up my day job or anything yet, though, lol.

          See Iphigenia's hub on Forex.

          1. kkavya profile image60
            kkavyaposted 7 years ago in reply to this

            Yes thats very important to have a side by side job to maintain stability in monthly earning.

    11. profile image0
      Leta Sposted 7 years ago

      Well, I'll say this:  People can do a lot more than they think they can if they are willing to take just a little risk.  This does not equal agreeing to scams and getting ripped off.  Strange how everyone thinks that way...that they are gonna lose all their $ because somebody is taking advantage of them.  Heck, the banks are taking advantage of people every day with excessive fees, stealing people blind. 

      What it comes down to is studying stuff, and looking outside the comfortable box, which can be a straight jacket.

      lol  I know...I wrote a hub on real estate investing, and of course you get the same attitude, given the market, blah, blah.  The thing is, you don't know unless you get in and do it--and I don't think the world's current wealthiest people started out big.

      Good luck to you!

      1. kkavya profile image60
        kkavyaposted 7 years ago in reply to this

        Thanks for good luck, i may need it after 90 minutes after sydney market opens.

    12. Len Cannon profile image88
      Len Cannonposted 7 years ago

      Mark is completely right.  You might as well just take up poker. At least there, you can always find someone a little bit worse than you to abuse for awhile.

    13. profile image61
      blakamiaCAposted 7 years ago

      Forex, the nicest way to lose your shirt in a hurry.

    14. retellect profile image80
      retellectposted 7 years ago

      Forex is a profitable way to earn an income, even with an account with $2000. I used to trade quite often but I can't spot trends as easily as a few years back. Since the "recession" I have been finding it hard to spot long term trends but it is easy to scalp the market on a daily chart.

      kkavya is right by saying it can be a viable income source but I don't he's truthful about earning $500 per month. Reason, he has 2000 and trades over short periods of time. Even with ridiculous leverages he can't earn 500 per month, unless he started with 2000 and his account is loaded now.

      If you consider trading stocks a "gamble," then forex is too. If you think stock trading is a good source of income, so is forex. You just need to learn and master it to be succesfull.

      1. Mark Knowles profile image60
        Mark Knowlesposted 7 years ago in reply to this

        Day trading stocks is a gamble.

        Forex is gambling. Simple as that. You do not "master it" -  you didn't. wink And guess what? - no one else does either.

      2. kkavya profile image60
        kkavyaposted 7 years ago in reply to this

        why 500$ per month is possible in a month, i trades a 5000lot , usually a 10000 lot and making 500-800 pips in a month is not at all difficult, specially for me.
        i am not talking 500$ per week man, its month.

    15. Bovine Currency profile image60
      Bovine Currencyposted 7 years ago

      kkavy, 20 years young, try listen to what people have to say sometimes.  You might just be a millionare one day but you will need to get some humility about you. 

      Another thing, why have you posted your IQ on hubpages? Is there a point to that?  I am not having a dig just curious.

      1. kkavya profile image60
        kkavyaposted 7 years ago in reply to this

        Bovine currency, u r right, actually if u saw the whole conversation u will find i started very friendly but that guy named knowles has started cra* .

        I would love to share and listen some forex ideas and u r also invited here.

        For my IQ, i used to mention GPA and IQ in my profile. I am in engineering collage , so first things are IQ and GPA.

        Have a nice day mate.

        1. Bovine Currency profile image60
          Bovine Currencyposted 7 years ago in reply to this

          I have read most of the comments.  I understand what you are saying.  When I say find some humility, I mean to say, do not get hung up about criticism.  Let people have their opinions.  I gather that you enjoy forex trading, that's awesome.  If people criticize you, make something of it.  Personal attacks get you nowhere and if you are on the wrong end of it, be bigger than that.

          I am still not sure why IQ and GPA are relevant.

        2. Mark Knowles profile image60
          Mark Knowlesposted 7 years ago in reply to this

          I hate liars. Simple as that. You are claiming to be making $300-$500 a week trading forex with a $2000 bankroll.

          That makes you a liar.

          There are enough people in financial difficulty without you persuading them to lose money trying to do what you are absolutely not doing.

          1. Bovine Currency profile image60
            Bovine Currencyposted 7 years ago in reply to this

            Hi Mark, I don't think you would think so but I wasn't referring to you at all in my post. 

            Cheers.

          2. kkavya profile image60
            kkavyaposted 7 years ago in reply to this

            so, u r telling that one cannot make 300-500$ from 2000$ per week. Man if u goes with 1$ per pip then 500 pips can gave u 500$ and if u trade gbp/jpy pair which moves in big steps, 500 pips is not a big task at all, atleast for me.

            I have just ask are there any forex traders here or not. I have not at all asked anybody to join any broker or provoked anybody that forex is sure earn system.

            In forex, if u don't knows anything then its gamble. otherwise, u will be fine.

            Best of luck to you!! you need that i m telling you.

            1. Bovine Currency profile image60
              Bovine Currencyposted 7 years ago in reply to this

              Now you are being naive,

              there is no amount of knowledge that clears you of risk.

              IQ does make you intelligent, it is a potential reading.  Use your potential by finding some wisdom.

              1. kkavya profile image60
                kkavyaposted 7 years ago in reply to this

                Definately risk is there in forex but with knowledge u can have like 75% success ration which is enough to make money on forex.
                I suffers loss too but stoploss saved me most of time but that doesnot means forex is at all a gamble.

                to be frank IQ rarely affects in forex but yes with IQ u can understand the concepts quickly.
                All you need to trade is to avoid overtrading, wait for right moments and good chart reading.

                Thats it!!!

                I think i have not yet goes off the limit yet, so i am wise enough to chat on this forum, thanks for the advice though, i will surely work on it.

                1. Bovine Currency profile image60
                  Bovine Currencyposted 7 years ago in reply to this

                  Lets all be frank, IQ means squat if you do not have the correct information.  If you base your decisions on false assumptions you will fail in whatever venture.  You are making false and abritrary claims, you have been challenged and you are continually, through your stubborness, revealing yourself as a fraud.  You are intelligent, I can see that but you are presenting yourself as someone you are not.  I do not have experience as a trader.  I have a general interest in economics and have done some broad and specific research on markets.  Mark Knowles does have credentials.  You do not.  As I suggested earlier, if you admit what you do know know you might gain more.  If you want to be truly wise, admit that there are some things you do not know that you do not know.

            2. Mark Knowles profile image60
              Mark Knowlesposted 7 years ago in reply to this

              That is exactly what I am telling you. You are a liar. You are not making 100% return a month.

              lol lol

              ur funni u r make gr8 csh

              Let me know when the ECB is planning on forcing the Euro down. I assume you have some sort of inside line on that?

              as u know wat u do. lol

              1. kkavya profile image60
                kkavyaposted 7 years ago in reply to this

                First of all, 300-500$ per week from 2000$ is not at all...  a great cash. Its just a safe cash.

                Also, i rarely goes for fundamentals but yes, there is no change in bank's interest rates in FEDS, BOE or ECB.

                I usually trades using my charts and weekly charts are saying that eur/usd can fall to 1.4066 or 1.3476 and then rise. So we have to wait according to weekly chart for this to happen.

    16. Bovine Currency profile image60
      Bovine Currencyposted 7 years ago

      There are so many factors affecting financial markets and charts do not always work.  Do not get cocky or you will suffer.

      1. kkavya profile image60
        kkavyaposted 7 years ago in reply to this

        U don't knows about trading and still commenting like u r pro.

        I said so many times that 75% success ration is enough and for ur kind information, charts works 75% or more times with ease. Everybody is not great like mark knowles who can trade without charts.

        There are failures in chart but having stoploss can reduce impact of failure.

        Really, i knows how good i am and what r my limits and i am not saying i am the prefect one but not the worst one to say forex is gamble.

        1. Bovine Currency profile image60
          Bovine Currencyposted 7 years ago in reply to this

          Your IQ is what???

          On what information do you base your assumptions about my knowledge of trading?  I know a hell of a lot more than you champ.

          I had some respect for you seeing as you are young and naive but don't go making rash comments about me, you don't know the first thing about me.

          I may not be an engineering student or whatever it is you do and I don't usually go around advertising my IQ but just for your information, its 160 and I am very well educated.  The best lessons I have learnt are to keep my mouth shut and have respect.  You've got two ears and one mouth, try using them in that proportion.

          The reasons Mark Knowles or anyone is a success with trading of any sort is not arbitrary, it is a result of patience and research and acceptance of the facts.  Not statistics and book knowledge but subjective, qualitative research and intuition.  The powerbrokers in finance will always win because they sell information, they create information.  Try following the web of ownership through any of the companies you trade with.  Try thinking about what you would do if all your stock was suddenly worth nothing.  You might get by on luck for a while and you might even make some money but if you invest your time on trading on numbers and charts, at the end of it all, is your time well spent?  If you are lucky enough to make any real money, big money then like many others before you, your head will inflate so much and you will then know that sick feeling of reality.

    17. efeguy profile image59
      efeguyposted 7 years ago

      i agreed with you,but you have to be a discipline trader to be great in forex trade.

      if forex trade is  gambling then stock is also gambling.

      keep the dreams.see my hub page for forex tips

    18. starme77 profile image86
      starme77posted 7 years ago

      I played the forex game for awhile, they have alot of free information on how to play the forex market, very interesting and I did rather good , they give you a free practice account and had I taken more time with it I may have actually opened a real one, takes time and I would rather spend mine doing taxes and writing so, I rally dont have time for it , but , if you study and study hard I believe there is great opportunity to make decent money there, just dont jump into it blindly or you could lose all your money

      1. OregonWino profile image85
        OregonWinoposted 7 years ago

        Forex is similar to commodities...i.e. very volatile and can be affected by things which have no direct baring on the underlying asset itself (i.e. the stability of the currency, GDP etc.)  I would be very carefull...it is much like playing craps in Vegas...best gamble in the casino, but still a gamble.

      2. KeithTax profile image80
        KeithTaxposted 7 years ago

        Want to have $1 million in Forex trading? Start with $2 million.

        1. Karina S. profile image60
          Karina S.posted 7 years ago in reply to this

          lol

      3. onlinemakecash profile image61
        onlinemakecashposted 7 years ago

        yes Forex is a good way to earn money, however you can win fast and also lose fast.

        It takes discipline to cut off the losing trade when it is time to, even if it is hard to accept. And knowing when to take profit and not being greedy.

      4. profile image60
        Lorena09posted 6 years ago

        Forex is large financial and highly profitable market but it could be difficult when you do not have the correct skills. If you want to learn how to trade forex right, you will have to realize that there are three indubitable principles that are the key to being successful in the forex market. They are mindset, risk management and strategies.

      5. profile image60
        sabrinathomasposted 6 years ago

        Obviously forex trading is a nice way of making money online. Forex Trading is a lucrative way to make huge money, but a trader must be forex educated and he must be a disciplined trader, then he can make profit from forex market. I am also making money with UFx Bank.

      6. Ben Evans profile image73
        Ben Evansposted 6 years ago

        The problem with forex is the market makers are as large as countries.  It is like being at a poker table with players with a lot more money.

        Sometimes the best you can do is just try to follow trends or play pivots or some other day trading scheme.

        Forex by nature of its leverage is just a short term investment with less rationality than people think. 

        People can make some money but the fx market requires more experience than any other trading category.

      7. profile image60
        walker49posted 10 months ago

        I did try Forex for a while and it is really a mine field.  You have scammer brokers around who can manipulate the charts and it is easy to lose. You really need a good system and stick to it.  You need to to give a lot of time to it too.  For education I would recommend Niall Fuller who does a great job in taking you through but you would need to pay a one off subscription but well worth it.

        I eventually gave up after about 5 years studying it but I must confess i quite enjoyed it but came to the conclusion I could not give enough time to it in order to make substantial returns to make it worth it.

       
      working