One of the weakness in forum boards is that its difficult to trace whether a post have been made on certain topic.
When I do a "forex" searh all that was shown were whose hubs touched on forex.
So I hope someone can respond to my topic... please
Well, if you click on "FORUMS" you'll see a search box that searches the forums.
Type forex into this, and you'll see the forum posts where forex was mentioned.
I have registered on HubPages just a few hours ago, and have updated a first page, letting the forex community know about the new Forex Trading Education portal that has been released a month ago: <snipped promotional link>
I'd like to invite you to see our website. It has been designed to help newbies into the Forex industry get much better material to learn to trade forex that what is currently offered online.
There are other pretty good sources of forex education that i admire, however the difference if that ForexFace has a state-of-the-art management system, which allows users to navigate easily, fast and intuitively all through the website.
About content, it's being reviewed before uploading, offering only reliable articles and reviews to our visitors.
A newsletter (monthly release) is available, and users can also post their own articles (upon approval) and get advantage of promoting their name into the fx community.
What do you say?
It will be interesting if you go around and tell me your impression, comments and possible suggestions to improve our forex portal.
Editor in Chief
<snipped promotional link>
Well DanielForex, if you cannot even read the hubpages terms of service and don't realize you will be deleted soon, I would have to doubt the quality of your forex education system
Forex trading is probably the easiest way to lose money known to man. The only people making any money are the brokers and the "educators."
Shame on you.
Professional Forex Traders can achieve impressive profits if they have the relevant resources and knowledge to do so.
The Forex market is full of people that think Forex is an easy game (which is not!) and those people seeking for easy money (over 90%) are those non serious traders who influence on the wrong perception of what foreign exchange really is.
I agree with you that trading currencies can be extremely risky... as real estate or opening a restaurant can be.
To trade Forex, to buy and sell cars, as for most of other careers, you have to make sure you know what you are doing before getting started.
No shame on anyone Mark... I think that I probably didn't explain well my initial point and therefore you answered the way you did.
Please let me know if you have any constructive comments.
Sure. For a start there is this at the top of the forum page before you make a post:
"Please note that advertising and promotional posts in the forums will be deleted and may result in the closing of your HubPages account. Do not start threads for the sole purpose of promotion or posting links. Please use the Forums in the spirit of community!"
And this is in the hubpages "help" section:
90% of forex traders lose money. Not because of lack of "education," but because they are playing with a losing hand.
Forex trading is a zero-sum game and trying to play the game with a small bankroll (Less than several hundred million) means you are going to lose.
I do not believe you make money trading forex.
If you did, you would not be here selling this. You would be making money trading forex.
I do not trade forex, I'm an educator as you said, however i got into the market after researching the market for more than 4 years, and i met several traders of all types: CEO's at investment firms until one-man-show traders... very different profiles, behavior and style to trade... however they all have something in common: they take it seriously: this is their full time job and their source of incomes... so they do everything needed to be good at it.
You just said it" 90% of traders lose - that's exactly the wrong perception i was talking about before... that 90% are NOT traders... they are far from knowing what currency exchange is... that 90% is composed by opportunity chasers; they come in, play with forex mini-accounts as if they would be gambling, they of course don't know how to trade and therefore they lose their $100 or $1000, and that's the end of the game... then they become part of the 90% of losers.
Now, can we define them as forex traders? Certainly not.
Forex trading is not a zero-sum game. Is a game for skilled people into this specific business.
I am clueless as to all the trading stuff. But I am very curious to know if it is such a great opportunity, why do YOU not take advantage of it yourself?
Sorry Daniel, I skimmed over that before.
OK, enough said.
I wouldn't learn to drive a car from someone whose driving experience consisted of watching car racing for several years.
Or learn the banjo from someone who has watched Earl Scruggs get together and jam with his mates.
I think you get my drift.
In a previous life as a maintenance fitter, we used to get recently qualified engineers in for work experience over the summer holidays.
While they knew all the theory they had no feel for machinery, use of tools, or appreciation of the "feel" of machinery operating.
After you've got into the financial trenches with $100,000 or so of your own money and emerged victorious with $250,000 and some battle stories, I might be more interested in what you're saying.
An old saying comes to mind: "Those who can't do - teach."
Daniel - I'm sure you're a great Forex teacher.
Zero sum game means that for one to win, another must lose.
Zero sum. Nothing created or made. One man's gain is another man's loss.
This is why even the big banks lose money trading currencies - sometimes vast amounts of money.
You cannot trade forex on a small scale and hope to compete with the institutions.
If you had ever traded forex, you would understand this.
You don't need to compete with the institutions. You compete 1 on 1 with the market you are into, for the amount of money you are investing.
What you need is knowledge, lots of common sense and a good mind-set.
It's easy to blame on others or to say that it's not possible for the small guy to earn money or that just educators and brokers make money trading forex... that's not true.
Anyone with real interest and a small capital can earn money trading forex, following the appropriate steps.
What do you consider to be a small amount of capital?
Good morning Mark,
A small amount is very relative to say... if we are talking about the average guy who is willing to get started into Forex, can be as small as what you need to open a mini account, which is $250, or even $150 with some brokers... that's pretty small to start trading, but good enough to start practicing what's a trading in a real account and not a demo one.
Of course trading $250 is not optimal and (even in best case scenario) the small profits won't worth the time spent, but again, it might be good to apply the learnt lessons.
Should you have recommendations i'll be glad to know... again, in a constructive way.
I am not sure I can be constructive with the information you have just given me. This is a quote from my hub the best forex broker :
Brokers (and educators) to avoid:
"Brokers encouraging "mini accounts," i.e. an account opened with a few hundred dollars. If you only have a few hundred dollars to invest, buy some WalMart shares. if you want to risk it, play blackjack instead - at least you'll get a free drink.They are implying that you, the common man, are just as entitled to trade FX as the banks and that you shouldn't let the fact that you only have a $1,000 to play with stop you. Damn right you should. You wouldn't find the big financial institutions using a 200:1 leverage and on the odd occasion they do, this is what can happen.
Why you should avoid "Mini Accounts"
Small amounts of money invested in foreign exchange trading must be highly leveraged in order to take advantage of small shifts in currency pairs. A slight move against your position and the money is lost. Avoid brokers who recommend this."
I honestly can't be bothered to explain in more detail why it is not possible to make money with a few hundred dollars invested.
Suggesting that an account may be opened with $250 is extremely poor advice. You will learn nothing by investing this amount of money. Nothing.
My most constructive advice is to start with a bare minimum of $10,000 risk capital.
Still not really enough but will allow you to play the game and learn how easy $10,000 can disappear.
Congratulations to both of you for conducting yourselves so professionally.
I know very little about Forex, and must admit that I'm not in the slightest bit tempted to give it a go.
You sound very different from the normal type of forex person that we see here.
One of my evaluation criteria for investments is asking about results obtained by the person promoting the investment.
So - how successful have you been in making income from forex?
Have you tried trading by using the small amounts you have mentioned, and if so, what results did you achieve?
P.S. This is a favourite topic for Mr. Mark "Terrier" Knowles, in case you hadn't guessed
LOL leverage 200:1. For beginners. Good luck keeping your pants
Mini accounts allow you to invest as low as $250 to $300 while at the same time allowing you up to 200:1 leverage.
Many inexperienced new traders are convinced to leverage too high and of course they get margined out in no time.
These accounts claim to cater to new investors but are promoted as quick rich schemes.
Invest $300 and take a $60,000 position sounds like a great idea at first, until a extremely small decline wipes out your balance.
hmmmm--looks like Daniel went bye bye-- Nice work guys. Another spammer bites the dust.
Dang! I really wanted him to answer my question! Oh, well! I guess his abandonment gave me the answer I was seeking lol
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