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Well you had heard a lot about forex trading being a money making machine but tell us whether it had been a money losing machine for you or not?
It had been for me and I was very frustrated also. But from last 2 to 3 weeks I had started to come on top and end with green pips. What stage are you in and what do you say about this?
Forex for me is a mixture at the moment since when I started it was mainly a money seeking machine, but after learning the art of trade, I have started making consistent profits and now I can say that this is definitely a money making machine, if we use it rightly. I am lucky that I work with OctaFX broker; it’s an outstanding broker to deal with especially due to their love able factors which includes tiny spread of 0.2 pips for all major pairs!
Forex is a profitable business and also very risky. If you will start it without learning and no skills then it will proof money loosing machine for you but if you have skills and proper knowldge then you can make lot of money also.
No it is not a money losing machine, it all depends upon the trader who teh trader play the Market and the kind of education he had at the beggining of the trading.
Forex is money making machine and money losing also. Money making for those who are experienced trader and money loosing for those who are not have any experience. we must to have experience become making money on this Forex. Learning is one of the conditions that could be a better trader in trading. Video tutorials and webinars be an alternative acquire trading knowledge. TICKMILL provide video tutorials and webinars complete
No way, it all depends upon you how you treat the FX Market, because that will let you know about it and your trading skill also matters.
This is a massive world of opportunities; if we grab it correctly then we could be making serious profits. I do Binary Option trading where there is always great chance to work if we do work properly; I am joined with FMbinary broker where there is really great land of opportunities available especially with one of the highest payout policy up to 85% for both short and long term options, it really makes trading so much easier for me to do.
If we have good skills then forex trading is not a machine to lose money but forex is a money making machine. We can make a lot of money in forex trading. For that, we need the skills, knowledge, experience and good trading psychology so that we can trade with a maximum
This is the biggest trouble of this business for new comers; it can be seriously profitable at one end, but when losing that can also go very far. Right now I am trading with OctaFX broker where there is everything in my favor whether it’s with their low spread of 0.2 pips, high leverage up to 1.500 or smooth trading platform, it’s all perfect and makes this losing machine into winning one that too big time and consistently without trouble.
This market becomes money loosing machine when a trader deals with unreliable broker. In some companies even if a trader gains something he or she always loose some sum during the withdrawal (now I talk about the brokers that proclaim to calculate exchange prices subjectively such as FIBO Group broker)
No, that's not the case because you need to take a look at your pwn performance and not the FX Market, and you need a good broker like FBS Markets as well
If you bring yourself to forex trading with greed, you will lose more money.
I know every traders has a passion to make profits and they forgot to learn how to be a good trader.
One more case of a real money loosing machine is unlicensed broker. They can take your money and disappear any time. It's like a thief. FCA recently warned about broker SunbirdFX that doesn't have licence and I think it's quite a good idea to avoid this broker.
It seems like that as many of the new traders does loose a lot of money but thats mostly due to ignorance they do in having a proper plan for trading.Quote:
Originally Posted by gaban
Lack of trading plan and unwilling to learn more about forex trading is the most reasons why newbies losses their money in forex trading.Quote:
Originally Posted by orni308
And that's why most newbies called this business as money losing machine. They couldn't even survive on several demo accounts...Quote:
Originally Posted by Luthfi Maung
A trading plan itself should be trained since traders still hanging around in demo account, because a good trading plan will supports their trading performance in the future...Quote:
Originally Posted by AndikaAnjani
No, Forex is a good way for money making so if you are a good trader and have a good broker then you can get success. I have FBS Markets
In my view it is down to how we do trading, if we are working without using common sense then we will obviously struggle quite a lot, but if used properly then it can turn out to be a great money making machine, it is the only reason even with near 90% losing ratio, it is still one of the most popular business online. I really find it interesting and highly profitable especially with OctaFX broker, it helps me avoid losses or at least keep them at bay, it is thanks to their rebate program where I am able to earn 15 dollars profits per lot size trade, it includes the losing trade too, so that’s why I love it so much.
Forex is a really lovely business and to be calling it as money losing machine, it is one of the worst things to do. I believe that Forex is a sort of business where we could make real money and that’s too without any major difficulty, but if we are educated enough. I started off very roughly, but with time I got into good zone and with Nova FX, it has been working wonderfully well due to their free 200 dollars welcome bonus that’s ideal for practicing.
I agree with you, but we need to be carefully due this business has high risk actually. we must have skill to trade and have knowleadge about forex trading to stay at forex. we can learning from the aricles, videos, or try to practice using demo account till we can trading well. after that we can use real account to earn much money.Quote:
Originally Posted by Dawlat Ahmadzai