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Thinking of playing forex

  1. nicregi profile image77
    nicregiposted 5 years ago

    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?

  2. LucidDreams profile image70
    LucidDreamsposted 5 years ago

    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.

  3. MortgageGuy profile image60
    MortgageGuyposted 5 years ago

    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.

  4. MelissaMelvin profile image72
    MelissaMelvinposted 5 years ago

    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.

  5. RaphaelDorsainvil profile image66
    RaphaelDorsainvilposted 5 years ago

    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!

  6. clearly profile image77
    clearlyposted 5 years ago

    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.

  7. colombostock profile image59
    colombostockposted 5 years ago

    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.

  8. Beth-Woodard profile image74
    Beth-Woodardposted 5 years ago

    If you're keen to do this make sure you do some homework first.

    http://beth-woodard.hubpages.com/hub/A- … x-Strategy