Thinking of playing forex
I am thinking of investing some money into forex. What do you think? Of course what I mean is the online forex.
Do you play them and what do you think? Any recommended sites?
If you are serious about investing money online and thinking about forex, I would caution you that the startegies are difficult to master and can be quite expensive to learn. Although binary options are certainly not easy, this type of investing is much better for the "new guy" and their are some great forums where learning is possible. I belong to binaryoptionsdaily and think they offer great advice from people who really know and understand how the game works.
24option and Bac de binary are a couple of well respected platforms that you could use to trade on if you like. Visit the forum and learn before investing. You can make a nice deal of money but losing it is even easier without the proper investment methods.
I don't trade currency. But I have had several close friends who have. All were happy with returns in hypothetical models, but the majority did not do so well when they went live. That is not to say you cannot make money in forex, but if you do not have the proper technology, experience, knowledge and a comprehensive understanding of the market your are trading, chances are you will lose and lose big. Good luck and wish you the best.
If you have never done it I wouldn't until you have really research and maybe played on demo accts first... be wise don't invest with money you don't have to loose... only with money you don't mind loosing in the event you do. However, if you are comfortable with it...go for it.
Forex can be very profitable if done carefully. First step is to understand the Forex market. Before you begin trading learn the basics, this website is awesome. http://www.informedtrades.com/trades.php. It's absolutely free!
For beginners, risk only 2% of your total account value. This is very, very, important. Only about 23% of those who trade Forex are profitable according to my broker. Controlling one's greed is one of the biggest challenges in being a profitable trader. Trade, don't gamble. Trading is based on information and market trends. Gambling is based on feelings. Get comfortable with the fact that you're going to have a losing trade now and then so don't get discouraged. Good fortune to you!
I have never invested in forex but, if I were to look for any investment I would rely on the pros (broker) or spent sufficient time researching. Money is to hard to make, I can't see taking risks without some degree of confidence.
You must practice as much as you can using forex demo accounts with different brokers before putting real money. Otherwise your money will disappear within few minutes.
If you're keen to do this make sure you do some homework first.
http://beth-woodard.hubpages.com/hub/A- … x-Strategy
by H P Roychoudhury 11 years ago
Which one is profitable investing in stock or in real-estate?
by thirdmillenium 11 years ago
A dear friend has plans to invest in a MANUFACTURING business in which he can keep investing around 36,00 dollars every month for 5 years. So, second month will see 7, 200 and so on. He can start only with 3600, please remember, and can add the same amount every month. He wants to start...
by harrison85 13 years ago
Well Mate... I guess you loose on this trade as we don't appreciate self promoting Spammers in our forums here
by Deseree Michele 9 years ago
What are some good stocks to invest in as a new investor?I have been doing my research, talking to some financial advisors, but it's like they are speaking Greek. I am looking to make my money work for me. So the question is, which stocks have minimum risk for a long term investor?
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