Is Forex a scam?
- Thread starter Enola25
- Start date
trysail
Catch Me Who Can
- Joined
- Nov 8, 2005
- Posts
- 25,593
"If you've been in the game for fifteen minutes and you don't know who the patsy is— you are."
You're asking if it's a good idea to trade cocoa futures against Hershey and Nestlé.
You're asking if it's a good idea to trade corn (a/k/a maize) futures against Archer Daniels Midland and A. E. Staley.
ishtat
Literotica Guru
- Joined
- Aug 29, 2004
- Posts
- 5,761
Forex trading by amateurs is foreex trading by mugs. They have neither the resources, information or skills required.
My company engages in such trading but uses it primarily as a risk management tool to protect ourselves from fluctuations in the currencies we work in namely USD, AUD, HKD and Pounds. We don't speculate, and we use professionals who know what they are about.
My company engages in such trading but uses it primarily as a risk management tool to protect ourselves from fluctuations in the currencies we work in namely USD, AUD, HKD and Pounds. We don't speculate, and we use professionals who know what they are about.
I agree with the first response, forex isn't a scam. It's just another type of market which is based on trading with foreign currencies. People have profit from the difference of exchange rates from them, trading is made in pairs (like EUR/USD) and it's simple, buy one foreign currency for lower prices and then sell it for the higher ones of another 
Considering that you need to monitor the market always for checking these prices and catching the best moments for making your deals which will be profitable for you, I know that some people became very rich in this way. You need also to understand principles of prices changes, their reasons (like economic and political situation in certain countries) and develop a skill of predicting them in future, this will make your trading successful too.
The other important thing is to find a good broker, there are many types of them for forex https://fx-list.com/asic-forex-brokers and your broker will manage all your financial operations. It's recommended to choose the one ver carefully because sadly there's much scam among them.
On the other hand considering how fast and unpredictably the prices can change, forex trading is like gambling, you can lose everything in any moment.
Considering that you need to monitor the market always for checking these prices and catching the best moments for making your deals which will be profitable for you, I know that some people became very rich in this way. You need also to understand principles of prices changes, their reasons (like economic and political situation in certain countries) and develop a skill of predicting them in future, this will make your trading successful too.The other important thing is to find a good broker, there are many types of them for forex https://fx-list.com/asic-forex-brokers and your broker will manage all your financial operations. It's recommended to choose the one ver carefully because sadly there's much scam among them.
On the other hand considering how fast and unpredictably the prices can change, forex trading is like gambling, you can lose everything in any moment.
PeterDinkledj
Virgin
- Joined
- Oct 3, 2020
- Posts
- 6
I am trading oт Fondex for a quite long time and I want to see if that soft of yours will work with it. To be honest, Fondex some great software and a cBot even. I mean they have all of the necessary thing to have a great trading session, but your soft looks pretty new and I would like to see how could it work with the best trading platform. Could it track the ongoing trade and how it will work with CFD tradings. It will be really interesting. At least you can have a look at Fondex platform and you will see how is that working. I think you will find a couple of great ideas.
