Does anyone here have any experience in currency trading. I have some relatives who do it and say it can be a good way to make extra money -- even a lot of extra money. Forex, it is called. I have looked around a bit, and downloaded one free sample program from FXCM. ANYONE?
Currency Trading
January 24th, 2006 at 06:41 pm
January 25th, 2006 at 01:00 am 1138150817
January 25th, 2006 at 05:20 pm 1138209652
January 26th, 2006 at 06:06 pm 1138298798
March 12th, 2006 at 01:47 pm 1142171221
For me initially, entering into trading was like stepping into a new universe. I didn't know what the experts (or anyone else for matter) were talking about. I had to learn the language (technical and fundamental analysis), and it took a long time, following the trial by fire of losing a lot of money. Of course there are an endless amount of experts who will tell you how to trade, and take your money for the privilage. There are automated signal systems, etc. However, one should never trust the experts to be right all the time, or even most of the time. They also lose (as well as win). Bottom line, to succeed at trading, like anything else, you have to pay your dues. You have to learn your craft, understand what makes currency prices tick up or down (technicals/fundamentals) and then develop a trading strategy based upon what you've learned. There is no other way to be in the 5% group that succeed (consistently have more wins than losses). Regards.