Recently i posted a topic about forex trading here and i was not amused at all as everybody seems to be mad at me. They calls forex a gamble and other cynical stuff like poker.
Many here have misconception that forex trading is big guys game, is a complete gamble.
First of all an average person is good enough to trade forex with a account ranging from 500-2000$.
Secondly, forex is not at all a gamble if played with proper money management.
At last i can just say please don't insult forex by describing it as gamble. I hope many of hubbers here knows that forex is not a gamble at all.
No Currency Trading is not a Gamble at all. And neither are derivatives.
The Fact that the Federal Reserve is doing 500 Billion Currency trades with no disclosure isn't a risk.
The fact that the World's Currency markets trade paper with no inherit value isn't risky.
The fact that the World's Central Banks are backed by nothing but perceived value isn't a risk.
Currency is nothing more than a debt instrument in a World whose Banks are so far past recovery that the system has collapsed and the Wealthy Bankers know this and are scrambling to abolish all currency while they implement a single global world currency so they can start the scam all over while they lay claim to the World's Assets.
Currency trading is as "safe" as drinking rain water from a desert pond.
Where do these people come from?
FOREX is one of the most risky "Investments" (And I use that term very loosely) a person can be involved with.
The people pushing these products in order to try and make a buck for themselves are lowlifes. These are the same kind of people that would steal money from their grandparents while they are sleeping.
ok, if you ask most beginners, 95% of them had busted their first account. That does not means forex is scam but its greed and unpatience which let beginners down. Yes forex is risky market like any other market but we can reduce this risk by proper money management.
Not me...I don't even know what it is!
I think that you are referring mainly to me, but I'm not going to get provoked into a carbon copy argument just a few minutes after telling everybody that my cat has died.
its not for u mate. u were not even in the radar.
Its just to tell everybody that forex is not a gamble, if played with proper money management.
Why are there a million posts about this topic all of a sudden?
Seems like spam to me!
Forex is just introduced here 3 days ago.
Why r u calling this a scam, do you knows anything about forex trading.
He is calling it spam because by starting threads about forex, you are encouraging people to click on your name to find out who they are talking to.... where they see three hubs about forex.
Im not saying that you are trying to get traffic that way, because you might not, but you know that search engine traffic is the only traffic which earns money? Because hubbers dont click on ads just in case they get their adsense banned.
Hahahaha, we are discussing about forex man and u r discussing about ur penny clicks lololol.
Man i am here to introduce forex to all hubbers. I don't care of my profile visits and other secondary stuff.
Please don't make me laugh by such comments.
Why dont you re-read what I just wrote, and then tell me why your reply was so confrontational and sarcastic? I sat on the fence with that one and did not accuse you of anything.
If you want to play hard and rude, I know three people on here that make over $1000 a month just through hubpages. You have $2000 in your forex account? Go figure, your the one missing the trick! Shove your forex up your rectum!
Man, may be they are earning 1000$, which is not surprising as there is money also in advertising industry but not every hubber is making 1000$.
Also, i am not here saying that its must that u will make in forex. If you will not follow rules of money management then u will definately loose in forex but if u go by the rules then money is surely there for the taking.
Try the search in the top right hand side of this page. You might be in for a surprise that you weren't the first person to hear about it.
Actually, Forex has been on HubPages before I joined, over 2 years ago. Do a search and you'll find loads of them (although quite a few were deleted for being overly promotional). It's old news.
And you'll get short shrift if you start any new thread which is clearly aimed at promoting your Hubs. We come to the forums to get a break from the business of Hubbing, not to have stuff sold to us.
"We come to the forums to get a break from the business of Hubbing, not to have stuff sold to us."
Can you tell me a single post where i told you or anybody to buy any stuffs, u can also read my hubs too if they are promotional.
So before commenting, please read the whole thread.
Take no offense!!
If you search there are a gazillion hubs about Forex. The only person whose advice I would take on it would be Mark Knowles.
I don't care, Its ur decision on whose advice u take. I have not adviced anything yet .
I am here to just say that an average status man can trade forex and Forex is not a gamble.
kkavya..... I see you enjoy getting your butt kicked
You opened this thread because you didn't appreciate the advice I gave you in your last one (for free I might add )
For any 20 year old with an ego who claims that they Don't Care or give a toss what others think; why are you trolling our forums?
In your efforts to seek affiliates, suckers and/or support for your years of trading experience; you really should not assume that we are all dummies here!
You want to be a squillionaire and you have found a currency trading facility in the last few weeks, that some of us were senior traders in at the time you were merely a fast swimming sperm!
Good on you for having ambitions tadpole; but like any business; you need to work on your attitude as much as learning! In the absence of either of these two factors (and your spelling ability)... you really look SHONKY
You claim to also have an IQ of 140.. so one would expect that you understand how to spell letalone demonstrate that you can do more than promote your new toy with something more solid than a pup's perspective of how to lick a bone
But Hey Mate..... Don't take my word for it... My IQ is only 42 So...Here's a Question for You... What is Nigerian currency going to do in the next quarter Against the Bumble Town Pine Cone?
Not sure, but I have invested heavily in goats - the new Greek prime minister is thinking about getting rid of the Euro and moving back to currency linked to the Goat Standard. It will finally bring stability to a turbulent economy.
You heard that hot tip here first
I'm good enough to earn money in the long run at poker. There are elements of skill but it is still a gamble. Forex is a volatile, unreliable market and I'm not sure why you're so gung ho for Hubpages to respect it. If you're making money, tip of the hat. But we don't really care
Ok , You seems to know something about it. Ok, mate u r also saying that money can be also made in gamble in long run but in forex( which is not at all a gamble) there is definately money if money management rules are correctly followed.
Thats what i am here to say.
You seem to find it difficult to understand the very basic principles of business, and indeed money. I'm not sure if your mother and father ever told you this, but money does not grow on trees! I know, it's crazy isn't it?! So when you invest the $1000 in your forex account, before guessing.... oops, errr... I mean making your educated and fully formed post-analytical investment decision.... and then you take $1200 out.... you know that $200 gain? Errm... this bit is going to blow your mind mate, so only read if you are really prepared for the consequence.... that $200.... it actually has NOT been picked off of the money tree! Crazy aint it? That fucked me up for days. Apparently that money is money lost by another forex player, who got their fully formed post-analytical investment decision completely wrong.... shame really, you lot might not be able to write properly, but you would have thought that they would have taught you probability, percentages, and perhaps even the basic concepts of middle-men and agents at school. Another thing, this bit will really mess with your head man....or is that "mess wit da ed man, innit".... that website you use.... they actually have to PAY.... MONEY.... to their STAFF!!!! and something called OST-ING or something like that, so that their world wide webternet pages can be seen by the 'fully formed post-analytical investment decision makers'..... and that money actually doesn't grow on trees!!!!!!!!!!
Enough to mess a man up for life aint it?
Haha nice one, but where in this world did i said "money grows on trees".
You can try to be the cute one here but the fact cannot be hidden that forex can actually make u money or make u lost.
The proper way is to first find a good system which is atleast 60% accurate and then trade and in long run money will be there for taking.
Actually, that money was not from other trader's pocket as small investers like me contributes only 1-2% of total trading, major contributers are banks and other financial institutions.
Well good luck with it, but one day you will realise that there are thousands of ways to make money. Just because you have found one, doesn't mean that you should close the door on another. My 'penny clicks' can be $10 clicks, and it is these forex companies and financial institutions that plough most of the money into google adsense too. Money moves in circles, advertising and leads are a part of that circle just like the various financial markets. If everybody moves to the same part of the circle, then the circle breaks, good on you for standing in your part of the circle.... and good for me for standing in mine.
What u wrote is like 70% write, yes many forex websites uses advertising.
But even if all of us comes in forex then also, we will only contribute 3-5% of total trade.
Forex market is so much liquid that everybody can trade, u can ask Mark knowles too.
I dont need to ask Mark Knowles, I have read some of his forex hubs, and he warns people of the dangers. In fairness, you are a 20 year old lad who has $2000 in a forex account.... and Mark Knowles is an experienced man that makes thousands of dollars per month online before even taking to forex.... he has many warnings for people, maybe you should heed some of them? It could make you a better trader.
Perhaps you will understand at some point that trading currency is no different from trading a good or service. I have a friend who gets paid £150k a year to trade wheat, maize and barley. He sits in an office and trades commodities, and there is a hell of a lot less risk in trading something which people will always buy. Currency markets are volatile, we always need wheat, think about that. The world is a big place and it doesnt evolve around the latest craze/fad or what you are doing specifically. Maybe you could open your own mind to the possibilities.
Yes i already read many of his hubs and what he mainly wrote there is forex can make u bankrupt which is true if u don't understand this game. Forex is not from any angle is quick cash scheme. You can only do better if you know proper money management whether its forex, stocks or poker
I also trades commodities like Gold, silver oil and cofee and i knows they are fairly volatile but still with help of good indicators and chart my success ration never goes below 60%.
So, charts can definately help any trader.
Great good luck with that. We've all learned a valuable lesson. Fight the good forex fight.
also to make it more clear, this website also grows money for the contributions we made through writing hubs, so think wt u r saying.
just widen ur level of thinking and i am sure u will find me a good member of hubpages.
My level of thinking is wide enough, and my money is spread wide enough, I have never criticised you for writing hubs - so perhaps you need to widen your own level of thinking. This website does not grow money, it catches money, Tantrum had the best analogy by saying:-
"I just keep on building my web within a web and hope to catch those damn flies".
Its a good analogy, and is the reason that I have published 500 pages of online content in 4 months. I happen to then invest most of those 'flies' into private pension funds, FTSE shares, or occassionally it increases the levels of consumer spending in the UK or the USA. Now can you see how adsense is just one part of a very large circle? Somebody gives me their shares, and they take my adsense money, maybe they then purchase something from a business through an adsense click - or maybe they invest it into forex. Everything has its place, but I dont start a thread every day telling people to buy shares, or to set up an adsense account, or to put more money in their pension. And I most definitely dont tell people to click on adsense ads!
introduce in forum, i know many of hubbers here wrote a lot of hubs about forex.
We'll have to forgive you then that you've only been here for 2 weeks so you're blissfully unaware about how many times people have tried to spam the forums with threads about forex.
Very interesting conversation about forex trading, and I do believe that in any situation something work, even in forex there are people making money and people who are loose money, it is all about risk.
Whether trading in Forex or in shares, there is an element of gambling involved. There are people who say that betting in horses too is a science and not gambling. What you calculate very scientifically based on statistics, trends, market conditions, demand vs supply and so many things just go topsy turvy in a moment if some terrorist attacks a strategic place in US!
ThinK of sub-prime crisis. Did any share trader ever expect such a huge snow balling effect?
Where the role played by chances is more
Where stakes and greed to make big money in short term are high
Where calculations and common sense are at times compromised to sentiments and gut feeling
Where risk is high
there exists an element of gambling. People get addicted to them on account of it.
I've been trading on the forex for the past year and have been quite successful. Lately, I've been able to take a $5,000 deposit and turn it into over $20,000 since 09/18/09. It is a form of gambling as your speculating where price will go, and looking to profit from that. It is through technical analysis that a individual can determine what position to take and when to enter/exit. I love trading on the forex, as I can get a much better ROI (+258%) on my investment than any other financial market currently available. Forex trading is not for everyone and I understand some of the backlash about the forex here. Given that so many people claim to be gurus/experts,etc or that you can make tons of money when you buy this certain forex product. I personally believe that if a person is serious about forex trading, they'll ignore all those people/products and develop their own personal trading strategy. Any forex product/system that is for sale I would not buy - the person selling it is more interested in making money selling the product then actually making people money. Cause if there was a product that made people money, why sell it?
LOLOL - a 248% ROI? Makes you wonder why any one would piss about on hubpages forum really.
Lets do the math -
$5000 into $20,000 in what? 6 weeks - Hmmm. Another 6 weeks means that will be worth $80,000 and another 6 weeks after that $240,000 LOL
Then we really start rockin' - Next 6 weeks - $960,000 and by the end of May you should have almost $4 million in the bank.
Think you will stop there or will you still be trying to sell yourself as a forex guru on hubpages?
I've found myself lately substituting the word "forex" for "bulls##t" in casual conversation.
Yes, I use it a lot in casual conversation.
My power bill went up, and it isn't even cold yet. Can you believe that forex?!?
⇧ ⇧ ⇧ ⇧
The above comment refers to forum spamming.
Yes, you should not post links in the forums.
No, you should not e-mail links to people. Especially people you have never talked to before. Especially ME.
Do not include me in your forex spamming.
lol. last time I checked it wasn't spamming, but then maybe you shouldn't post in a topic about forex if you don't like the subject
Spam = unsolicited or undesired electronic messages.
Maybe you should check again, because yours sounds like it was both.
Mrvoodoo: let's go find an investment site, and fill up their forums with posts about how cool it is to conjugate verbs.
Just as soon as I figure out how to conjugate verbs.
Forex is exactly that...a gamble so just stick to what you reckon you know and forex trade away your money!!!
Why so many posts insisting people like Forex?? You posted it once, it got a negative response, so why post it again?
Your continued insistence it is a sure way to make money only proves that you have some other motive here.
Not everyone losses their money trading forex.(which seems to the be the main perception here in this forum topic.) Sure, I myself have had a few losing trades, it is unreasonable to expect that every trade will be profitable. Granted when I first started trading, I wiped out my first account. After going back to the drawing board and refining my strategy I have not wiped out my account since. Primarily because I lowered my profit expectations and have stuck to a regimented trading plan/strategy that works.
You only expect 248% ROI? A MONTH LOLOLOLOL
Sure. "lowered your profit expectations"?
How much did you lose on your first account? $15?
Do not send me any more personal emails.
Yes that is correct. In my opinion the quickest way to wipe out an account is to be too greedy. Considering that there are many other investments (such as mutual funds) that yield a much lower ROI on a monthly basis, in which millions of people are happy with. I am happy with what I've been able to do. I'm not out to make millions of dollars, but rather just want to have a nice steady source of income that enables me to live comfortably. Which I think everyone wants, especially now days. I only sent you an email because we can't post links here on the forum
You sir are a liar and a fool.
And you just happened to have a web page all ready to go to "demonstrate" your reasonable return on investment of 248% a month?
Seriously - I am not that stupid. Still - only another 4 months or so and you will be a multi-millionaire.
I am a liar and fool? What exactly am I lying about, please enlighten me. I don't think I ever said or implied you were stupid, you might want to re-read my posts. But its nice to know you can conduct a conversation in a civil manner without resorting to personal inflammatory statements about my character of which you know nothing about.
I understand that there are other people that trade forex and can generate a much higher monthly ROI, but as I stated previously I'm not out to make millions of dollars. My goal is turn $5k into $100,000 in 8 months, and I am on track to meet my goal which is fine with me.
And that website is a independent third party site where thousands of other forex traders go to publish their trades for free.
LOL I know plenty about you, "ForexCashBack"
Oh - you mean that is your real name? And I defamed an actual person?
So - why would you want to publish your trades exactly? And yes - I am not stupid enough to believe your "reasonable" returns of "only" 248% a month.
Not sure why it will take you 8 months to go from 5k to 80k at that sort of "reasonable" return? Something wrong with your maths there - by my calculation it will only take about 3 months. In fact - you should be there within another 6 weeks or so.....
And why are you not out to make millions of dollars?
Since I know just a bit about this topic I can tell you that setting a goal to turn 5k into 100k in 8 months can not be set by any reasonable investor. Claiming that there is a proven trading strategy that will produce you such results is bogus.
Now I'm not saying that it is impossible to do it, nor am I questioning that you are on the way to meet your goal, yeah sure it's possible - by taking a HUGE amount of risk (large leverage) and having the bets go your way. And if you are levered any drop will be of course be intensified (for. ex if you have 20x leverage a 5% drop will wipe you out).
Also, you are ignoring the tax issue, since you are not holding your investment for over 1 year period you are taxed as a short-term capital gain.
I am not against Forex trading but I don't like somebody who tries to promote Forex in Hubpages.
Forex trading is not meant for everybody because it's speculation and a high-leverage instrument.
I traded Forex before myself and for someone else.
To have a net gain, below are some guidelines:
(1) You need to be very disciplined;
(2) You have to have reserve, i.e. extra money not meant for emergency use;
(3) Do not trade when the market is volatile;range trading is preferred;
(4) Monitoring the market trend very closely;
(5) Use both fundamental and technical analyses;
(6) When the market is against you, cut loss and run.
(7) Look at the major trend, i.e. look at the forest isntead of a tree.
(8) Take small profit, don't be greedy.
Most Forex traders lose money except those who know how to play the game.
Nice points from you about trading forex but i will disagree with 8th point of taking small profits. Actually traders are by nature have mentality to close profits early and carry losses for long time in anticipation that they will return to breakeven.
We can control our greed in systematic way, like using trail stop so that if we are winning thats good and if it goes against us then trail stop will take care of it.
so, trail stop satisfies 2 statements
1. Never turn a winner into looser
2. let the winners run
Exactly, turning 5k into 100k is just day dreaming. Forx can be traded for a living if we trade it risk free. With normal interest rate schemes or fixed deposits, we get like 10% per year as return but with forex we can plan like 5-10% return per month with proper risk management.
We both know that you are looking for affiliates to sell the goat standard for you so you get cheese for free! The OP should also consider the medium term benefits of secondary markets created by the emmense amount of goat droppings on hand!
But seriously; For a small investment of say; $5000 We can get you a 400% ROI (with no gamble) via excellent x-rates against the Tasmanian Tigggger in the Torex, or via the newly struck plastic Lebanese currency; in the Lorex trading.
400% - pfeh. I would not get out of bed for that. My cunning plan is to buy goat aphrodisiacs and some Barry White CDs. Two goats become four, then four become eight - a pretty good return on my initial investment.
Mind you, Kostas the Goat Herder, with his 5000 goats, is set to become one of the richest men in Greece. I am going to see if he wants to buy my sister
That's alot Barry White CDs required mate.... be careful you don't raise the rate.
I'm sure you'll do well with this Sufi; even if the kids don't appreciate the CDs; Kostas the Goat Herder is well known to us here (his cousin from BT)... I'm sure with so many nannies on board... and his ability to act the goat.... Well.. Say no more!
Not too worried about affecting the rate - we feed the goats US Dollar bills because they are not much use for anything else, at the moment. As fast as the goats eat them, the US treasury prints more
In fact, the conversion rate for US Dollars into Goat Droppings seems to be very favourable and our roses have never looked better.
So you know Kostas' cousin, Big Fat Nikos the Baker - I have never seen a man drink so much Ouzo and live. As for Kostas - it must get lonely up in the mountains with no wife...
Oh the constructive uses for Promisery Notes (In God We Trust )
Yep the Baker was very chummy with the Mare (Opps sorry - Mayor) and also has interesting tendancies that he seems most happy to demonstrate when Barry White is played through the town PA system.
Yep, Nikos left Greece under a cloud, due to some rather compromising photographs. I am glad that he is rebuilding his life in Bumbletown - just keep him away from the Karaoke machine. He is the worst Elvis impersonator I have ever seen, although he probably matches Elvis for hamburger consumption.
This thread was in danger of meandering too much. Isn't it lucky that we were here to drag it back on topic
Always a Pleasure Big Guy
Nikos is also an accomplished Fish Slapper (though at first it was hard to distinguish whether he was using a fish or not!)
No worries - it is good to provide an oasis of calm and genuinely useful information as part of our HubPages civic duties. Without guys like us monitoring things, these boards would soon descend into anarchy and farce
That was the nature of the photos - his poor old mother has not been able to show her face in public, since. She doesn't eat fish anymore, for some reason
"Not everyone losses their money trading forex.(which seems to the be the main perception here in this forum topic.) Sure, I myself have had a few losing trades, it is unreasonable to expect that every trade will be profitable. Granted when I first started trading, I wiped out my first account. After going back to the drawing board and refining my strategy I have not wiped out my account since. Primarily because I lowered my profit expectations and have stuck to a regimented trading plan/strategy that works."
That's it. There will be ups and downs. Huge profits offset by huge losses at another time. Assuming that one sticks to forex trading for five years continuously (without getting wiped out in the middle), what is his average returns on capital invested?
If it is less than 15% it is not worthy. If it is <30%, you are in business like any other business. Perhaps someone in employment too may get it including promotions. If it is less than 50% there is some worth.
But, not hiding your losses, if you honestly calculate your profits over 5 years, where do you stand?
Forexcashback.... You describe yourself as a 'Scalper' and that you have structured a sub-agency commission arrangement for independant forex traders.
So here are a few questions for you that you may wish to dodge:
1) What is your relationship to the OP in this thread?
You appear to have come to the aid of the OP when he got out of his depth and interesingly has chosen not to return to defend the claims that he has made!
2) Why do you promote investment strategies that completely undermine the very basis of astute financial planning?
3) Do you agree fully with the statements made by your colleague kkavya?
4) Other than Self Promotion of your trading - Why do you use HubPages?
I just don't like the concept of leveraging to guess.
It's easy to say and believe you know what you're on about when the markets are with you, but when they turn do you have the experience and skills to still navigate your way out or hold your position with aplomb?
I want to say forex is not that easy and 95% of newbies looses money in forex. Thats only because of lack of money management.
I prefer newbies to read money management books written by
Ryan Jones on Money Management, u can google "Ryan Jones - Money Management" for this book.
Also forex is not get rich scheme so a target of 10-25% return a month seems to be ok.
Forex is like any other kind of investing. whether it is the stock market, real estate market, gold,etc. there is a risk. If there wasn't a risk there would be no reward. Like any smart person though you have to take calculated risks and not invest blind.
you are right kkavya.
money management should be the key for all forex trader these 2010.only then they can profit.
only the discipline trader wins
Ill add my 2 cents to his topic. Forex is good and can be quite profitable if you know what you are doing. The only problem right now is there are too much scam out there claiming high profits from forex and people getting burned thats why the negative feel about forex.
by kkavya 2 years ago
Hey guys, just curious to know if there is any forex trader here.
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Is Forex trading gambling?
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Is it ok to invest $ 10K for forex trading?account with USD 10,000 with oanda.com. However, after seeing your comments, I have stepped back and want to do a further study.Do you suggest I shoudl be doing forex trading ? If yes, would you be kind enough to share any points I must be careful...
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