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Is Forex reliable?

  • #361
  • Jan 21, 2019 12:21am Jan 21, 2019 12:21am
Forex is reliable for sure and reliability of forex market depends upon how you trade in it.
Before start trading at the live account in forex, one must have complete knowledge about it. You must be aware of trading style and strategy before start trading in a live environment. For this, you can open a demo account and practice as long as you get completely aware with the market. Certain aspects need to be checked before placing the trade like the leverage on your account, spreads, SL/TP. I suggest you stay away from market makers as they make the profit when u loose.
  • #362
  • Jan 29, 2019 6:38am Jan 29, 2019 6:38am
Quoting Gracewilson
Forex is reliable for sure and reliability of forex market depends upon how you trade in it. Before start trading at the live account in forex, one must have complete knowledge about it. You must be aware of trading style and strategy before start trading in a live environment. For this, you can open a demo account and practice as long as you get completely aware with the market. Certain aspects need to be checked before placing the trade like the leverage on your account, spreads, SL/TP. I suggest you stay away from market makers as they make the...
I liked your last line; of course we should stay away from the market makers & always need to verify the regulation status of Forex broker before invest our own money.
  • #363
  • Jan 31, 2019 6:13am Jan 31, 2019 6:13am
The question is not about whether forex is reliable or not. The question should be mostly pointed towards the trader. Is the trader reliable or not? :-)
  • #364
  • Feb 6, 2019 5:42am Feb 6, 2019 5:42am
nice point , any business platform can be reliable , in Forex trading we become loser due to having a mentality to earn profit devoid of learning. as a result by and large loser from here and blame ultimately Forex as a scam or something.
  • #365
  • Feb 6, 2019 6:35am Feb 6, 2019 6:35am
Forex is much reliable but we are not , we lose from here due to our mistakes but not willing to blame ourselves.
  • #366
  • Feb 8, 2019 6:28am Feb 8, 2019 6:28am
I guess, Forex is a risky business and you can loss all your money like in any other kind of trading.
We just have to start in little steps and not risk all the fortune and study and educate ourselves.
  • #367
  • Feb 20, 2019 5:00am Feb 20, 2019 5:00am
This is business, and there is always a place for risk. You will not know until you start. Probably this skepticism is coming from people who didn’t do demo and market study before joining. I would say that it is as much reliable as any other business.
  • #368
  • Feb 21, 2019 4:12am Feb 21, 2019 4:12am
Forex is reliable , yes it is, but the traders we have not reliable at all, we trade here with no analysis , using high leverage with no risk management , trading news without any strong fundamental knowledge and much more including revenge trading. market is natural for all. problems actually ours.
  • #369
  • Mar 16, 2019 9:58am Mar 16, 2019 9:58am
[quote=LanaBanana;11979778]I guess, Forex is a risky business and you can loss all your money like in any other kind of trading. We just have to start in little steps and not risk all the fortune and study and educate ourselves.[/quo


any business contains risk but not like Forex trading , there is nothing certain in this stock market and in spite of passing a long time its not possible to make sure regular profit without regular practice , its call Forex Market.
  • #370
  • Mar 17, 2019 7:52pm Mar 17, 2019 7:52pm
Quoting MapleLeaf
Nope, it's not reliable. Eventually, you will lose everything in FOREX. Just stay away from it and go look for a job. Otherwise, if you want to put your money into this CASINO, then don't whine later. 99.6% of people lose money in FOREX. Period.
not everybody losing, forex factory is winning, brokers are winning, traders who got blogs and those who mentor people are winning too. Pick sides wisely or just go work for s broker, you will be on the money.
  • #371
  • Mar 18, 2019 11:44am Mar 18, 2019 11:44am
sounds positive in your message, by the way can you share your own trading experience ? what you already have achieved from this market place ? please elaborate
  • #372
  • Jan 8, 2020 8:41pm Jan 8, 2020 8:41pm
Quoting LanaBanana
I guess, Forex is a risky business and you can loss all your money like in any other kind of trading. We just have to start in little steps and not risk all the fortune and study and educate ourselves.
its a risky business and we the traders faces loss most of the time,
and after losing whole equity again kick off trading , its a just addiction , noting without it.
  • #373
  • Jan 30, 2020 2:10am Jan 30, 2020 2:10am
Yes forex market is reliable but one can’t ignore the fact that is a highly risky market. So if one has the patience and knowledge to trade with a proper trading strategy then it is a safe place for you.
  • #374
  • Jan 31, 2020 11:22am Jan 31, 2020 11:22am
I found out that EURUSD is the worst currency to trade in FOREX by far, for example if u use fibonacchi and and see a bounce off the 50 level the next candles wick could have like 300 pips in the opposite direction and could easily hit your stop loss.

Stuff like that does not happen that often in other pairs.
  • #375
  • Feb 1, 2020 8:45am Feb 1, 2020 8:45am
What currency pairs do you prefer to trade then?
  • #376
  • Feb 3, 2020 6:25pm Feb 3, 2020 6:25pm
Quoting ElComandante
IIs Forex reliable?
Depends on whether or not you develop reliable Trading ideas. If you do, then Forex will probably be as reliable as those ideas. The same can be said for any traded financial market for the most part.
  • #377
  • Feb 4, 2020 9:03pm Feb 4, 2020 9:03pm
Many things depends on Fore reliability. Your nature of work, how you are doing your best for getting the best with market. Your learning for market.
  • #378
  • Feb 4, 2020 11:29pm Feb 4, 2020 11:29pm
haha yeah many factors are in place here, its a broad question, even i in ten years of trading forex on and off still think i have a long way to go, trying to juggle and balance everyday routine from day job to family to watching charts and news, its heck a lot of load to manage. but like what many of you said its not easy, and mostly falls on the traders, though the broker factor can be an issue, hopefully many of us have a reliable broker to work with then all falls on our trading skills and decision making. at the end of the day ill always be happy to get a couple of hundreds from hotforex and im good to go. lol
  • #379
  • Feb 22, 2020 9:30am Feb 22, 2020 9:30am
Anyone can start trading in Forex as long as they are legally an adult.

That said, I would not exactly call it safe if you don't know what you are doing. There are a whole lot of scams in the industry - to put in perspective, UK traders have lost about 197 million GBP to forex and cryptocurrency scams for 2018 alone. Those are the traders losing money to fraud in just one country for just one year. The global sum probably numbers in the billions.

Also, scams aside, even if you find a reliable broker to trade with, you still need to learn how to trade profitably, which takes a long time and a lot of effort. People lose money while they learn, that's the unfortunate truth, and anyone who wishes to learn just has to accept it as part of the learning process.
  • #380
  • Feb 22, 2020 1:02pm Feb 22, 2020 1:02pm
If so many on here against Forex, why are you on this forum and trading it yourselves . But everyone has their right to an opinion. Happy trading
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