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Is Forex Trading A Scam?

  • #141
  • Nov 24, 2019 7:48am Nov 24, 2019 7:48am
this is not a scam.
you just have to find a solution.
think of it as a mathematical equation you need to solve.
the solution is you just have to find it.
not everyone succeeds.
  • #142
  • Nov 25, 2019 10:39am Nov 25, 2019 10:39am
We know nothing for sure and we dont have to in order to make money....
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #143
  • Nov 25, 2019 1:53pm Nov 25, 2019 1:53pm
yes and no, high leverage makes it a "scam".. sometimes the temptation is just too strong and it takes no time to blow an account with high leverage.

hedging same pair is also a "scam" but well... if you do it you deserve to lose
  • #144
  • Nov 25, 2019 3:49pm Nov 25, 2019 3:49pm
Forex is not a scam. The problem is that there are so many gurus out there and yet there are not enough people who are wholeheartedly willing to share their their strategies for free. Either their strategies are signal services / proprietary algorithms or they giving out vague information to hungry and impatient people who will then dismiss the information as false because their winning rate is so low due to impatience, greed, fomo, etc.
JT Money
  • #145
  • Jan 2, 2020 4:03am Jan 2, 2020 4:03am
Of course forex trading ISN'T a scamm, that can be quickly checked by finding a definiton about forex. I will give that one from Wikipedia. If we open it, we can find " The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market.".
So, forex isn't a scamm. Moreover, that's the biggest worldmarket ever existed. But, once again, why so many people think that forex is a scamm?
That's cause many people think that trading is a free money and even don't understand that's not so. Forex is not about "enter and earn", that's a business and to succeed you need to learn a lot of stuff.
  • #146
  • Jan 2, 2020 4:08am Jan 2, 2020 4:08am
Quoting HeyYou
yes and no, high leverage makes it a "scam".. sometimes the temptation is just too strong and it takes no time to blow an account with high leverage. hedging same pair is also a "scam" but well... if you do it you deserve to lose
If traders lose their money here because of own faults, then how it can be scam? Forex is very smart way of money earning!
  • #147
  • Jan 2, 2020 6:43am Jan 2, 2020 6:43am
Quoting NeilWagner
{quote} If traders lose their money here because of own faults, then how it can be scam? Forex is very smart way of money earning!
high leverage ise mant for fun/gambling period.. at least that's my conclusion.

so if you give it to a NEWBIE he/she might develop a bad trading attitude and even a gambling addiction.
  • #148
  • Jan 2, 2020 8:19am Jan 2, 2020 8:19am
I know some people that are extremely successful and I heard about a lot of people that making billions. Krieger, Soros and many others traders made millions trading forex and become a sign of successfus. Of course, the majority of successful forex traders aren't millionaires, but they earn enough to keep on independent living and be happy with trading. I many times hear one thought in different variations: "most traders lose, there are only 1%/5%/10% that earn forex, so don't try, as your chance to succeed is relatively small". No! That's not so. That's the same that say "only 5% of business succeed, so never try". If you want to reach success, you should follow you dream, that's first. In any industry there is small number of people that finally achieved success. This is a statistical misperception to say "if only 5%/10%/15%/20% succeed, than your chance to succeed is the same". That's not so, as you aren't statistical average person. Your chance depends on your efforts. If you do everything right, than it's going up to 100% and if you want to trade on random, your chance is not 10%, or even 5%, it's equal to zero in the long run. So
  • #149
  • Edited 1:40pm Jan 2, 2020 10:33am | Edited 1:40pm
I think that more than 1:30 leverage = gambling.

I'm familiar with balance curves.. newbies are generally NOT.

now brokers should not feel guilty or anything.
  • #150
  • Jan 2, 2020 11:04am Jan 2, 2020 11:04am
Quoting Darkseeker
I know some people that are extremely successful and I heard about a lot of people that making billions. Krieger, Soros and many others traders made millions trading forex and become a sign of successfus. Of course, the majority of successful forex traders aren't millionaires, but they earn enough to keep on independent living and be happy with trading. I many times hear one thought in different variations: "most traders lose, there are only 1%/5%/10% that earn forex, so don't try, as your chance to succeed is relatively small". No! That's not so....

the important is that you like it.

losing is not a problem at all.. the problem is only when you lose more than what you can afford to lose.
  • #151
  • Jan 2, 2020 2:47pm Jan 2, 2020 2:47pm
Quoting HeyYou
{quote} high leverage ise mant for fun/gambling period.. at least that's my conclusion. so if you give it to a NEWBIE he/she might develop a bad trading attitude and even a gambling addiction.
That means, lack of knowledge! Newbie’s need to invest their money when they are very sure on their trading skill.
  • #152
  • Edited 7:21am Jan 3, 2020 3:07am | Edited 7:21am
Quoting NeilWagner
{quote} That means, lack of knowledge! Newbie’s need to invest their money when they are very sure on their trading skill.
absolutely.. as you see I used quotation marks... cause in the end there's no one to blame.

however I strongly support restrictions, and since the ESMA it has been like starting from below 0.

my opinion.
  • #153
  • Jan 3, 2020 3:17pm Jan 3, 2020 3:17pm
Quoting HeyYou
{quote} absolutely.. as you see I used quotation marks... cause in the end there's no one to blame. however I strongly support restrictions, and since the ESMA it has been like starting from below 0. my opinion.
Thanks buddy. Got your point clearly! Have a great weekend!
  • #154
  • Edited 7:11am Jan 4, 2020 3:17am | Edited 7:11am
Quoting NeilWagner
{quote} Thanks buddy. Got your point clearly! Have a great weekend!
Thanks Neil, one of the few intelligent guys that i enjoy reading.
  • #155
  • Last Post: Jan 4, 2020 9:44am Jan 4, 2020 9:44am
Quoting HeyYou
{quote} Thanks Neil, one of the few intelligent guys that i enjoy reading.
I am glad; have a great time buddy.
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