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forex and all eas are a scam, stay away from forex 53 replies

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Forex = legal scam

  • #181
  • Jan 25, 2015 1:46am Jan 25, 2015 1:46am
Quoting FerruFx
{quote} The important isn't the time it takes ... but the final result
You betcha Ferru. But when it finally clicks...... After disappointment following disappointment, every time you've thought 'I 've cracked it!' only to be slapped in the face again and again. Persistence is an edge that brings you closer to the right way of doing things. But in all that time, how many accounts have I blown? Not a single one. You don't have to blow accounts, just have to survive long enough to learn, and the more simple you make things, the more successful you are. The battle isn't on the chart, but in your mind, a battle to see things as they are vs. how you think things should be (or how everyone else thinks they should be). Supply and demand is the key, it's a market, there are buyers and sellers, supply and demand. Where will those buyers and sellers most likely act, and why? That's all there is, nothing more. There's no mystery.

This is the hardest thing I've ever tried to do, and I wouldn't ever swap all of the frustration I've been through. I'm not sure I'd want someone to come along and say 'oh, do it like this' without battling so hard for so long to find out how on my own. Because then I get to make money and prove something to myself, and everyone else can go and shove their opinions and their herd mentality right up their....
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #182
  • Jan 25, 2015 1:51am Jan 25, 2015 1:51am
It is not scam..it just not for you..this arena is not for u..

ust go work on the mcdonald and KFC ..
  • #183
  • Jan 25, 2015 2:18am Jan 25, 2015 2:18am
Quoting Spili
{quote} The battle isn't on the chart, but in your mind...
Exactly ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #184
  • Jan 25, 2015 2:20am Jan 25, 2015 2:20am
Forex is scam! when i have scam plan," to get rich quickly with high leverage like ...200 to800,900, 1000,2000"
Forex is business when my plan to do investment with normal leverage and according to market trend.
4x is sweet poison.
  • #185
  • Jan 25, 2015 5:10am Jan 25, 2015 5:10am
well if anything you picked up that oil at that time was bearish lol ,if you cracked up the monthly you would have seen why ,at that point I don't think many would say as is but if you'd asked I would have said bottom of immediate range before break high without much doubt
original bearish candle was right tho 100 ,was warning there prior move ,I think it was and could have been followed


Quoting pinkiaiii
Ive been trading for +2 years now,and i can only say that forex is most manipulated legal scam there is going.I have seen my share of events in forex that many would scratch their heads,but recent event where crude oil dropped more then 11$ in 5 days time beats everything in market manipulation,and no i didn't trade crude or brent when this happened.I keep coming to forex with different attitudes ,strategies,but at the end its the central banks and government who decide which direction euro goes,what devalues,and what gains,over to years i made...
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  • #186
  • Feb 4, 2015 3:56pm Feb 4, 2015 3:56pm
Maybe you are just not TRADING MATERIAL? Maybe you dont have the RIGHT SKILLS to TRADE? Maybe you need to STOP TRADING?
Trade smart, not hard
  • #187
  • Feb 12, 2015 4:24am Feb 12, 2015 4:24am
Quoting Nfp
It is not scam..it just not for you..this arena is not for u.. ust go work on the mcdonald and KFC ..
  • #188
  • Feb 13, 2015 1:27am Feb 13, 2015 1:27am
speaking of the concept, having forex as a legal scam let me put a twist on it.

if a trader lives by the book regarding every freakin low out there, then maybe forex is not for you, infact a lot of things is not for you

diversity and adaptability is the secret, never expect things to be perfect but be ready to adjust and grab every oportunity

remember, every one that make it big in forex or in anything else did not do it by the book, to put it bluntly and note that this is a mind set

a crime is a crime only if caught, bending a few rules along the way in your advantage is quiet alright as long as you are not steping on someone else.

ironic yet true.
  • #189
  • Feb 13, 2015 5:34am Feb 13, 2015 5:34am
Quoting Nfp
It is not scam..it just not for you..this arena is not for u.. ust go work on the mcdonald and KFC ..
Please, tell him again!
Trade smart, not hard
  • #190
  • Feb 13, 2015 7:40am Feb 13, 2015 7:40am
I agree and I don't agree.
For those who take the time to learn it well, they can make money. But overall, the system isn't easy to win at. If it were, we would all be rich.
  • #191
  • Feb 13, 2015 8:09am Feb 13, 2015 8:09am
Quoting davidcraigso
I agree and I don't agree. For those who take the time to learn it well, they can make money. But overall, the system isn't easy to win at. If it were, we would all be rich.
Correct. I believe trading FOREX is a skill. With practice comes perfection just like any other field.

I used to believe that making money from FOREX was impossible and was on the verge of giving up, but I always practiced until I was PERFECT. I dedicated 7 months of learning and have recently gone live. In just 14 days of trading, I am up by more than 20%. You can even check out my TRADE EXPLORER.

I believe the people who claim FOREX not being profitable, are just unskilled in this field and need to go back to practice.
Trade smart, not hard
  • #192
  • Feb 13, 2015 10:08am Feb 13, 2015 10:08am
Not a scam in general; but just a glorified casino.
  • #193
  • Feb 15, 2015 9:18am Feb 15, 2015 9:18am
Quoting pinkiaiii
Ive been trading for +2 years now,and i can only say that forex is most manipulated legal scam there is going.I have seen my share of events in forex that many would scratch their heads,but recent event where crude oil dropped more then 11$ in 5 days time beats everything in market manipulation,and no i didn't trade crude or brent when this happened.I keep coming to forex with different attitudes ,strategies,but at the end its the central banks and government who decide which direction euro goes,what devalues,and what gains,over to years i made...
For the vast majority of traders who are under-capitalized, over-leveraged and daytrade frequently, forex is for all intents and purposes a scam. These people are playing the broker's game which has negative expectancy in the long-run. The less those three conditions apply to you the more legit forex will be for you. Consider a very high net-worth individual who decides to buy $60 million worth of euros at the price of $1.13/euro using no leverage and intending to hold that position for long-term. It is pretty much guaranteed, for example, that at some point in the future -could be next year, could be 4 years from now- the euro will be worth $1.35 again. The point is, this type of trader can afford to use no leverage, hold his position for years and still expect a decent return without having to predict price every few hours.

Don't forget that forex itself is a very important market that serves many legit purposes, everyone from governments, multinational corporations and even tourists rely on this market for many important transactions that have nothing to do with speculation. I don't believe that initially the forex market was ever meant to be traded in the way it is today by retail traders. Anyway, you say that after going from strategy to strategy in the 2 years you've been trading forex it is central banks and government that determine direction of currency. Well now you're getting somewhere, I suggest you keep building from that and learn about other important fundamental factors that influence exchange rates.
  • #194
  • Mar 8, 2015 7:17am Mar 8, 2015 7:17am
Quoting Trenderer
{quote} Don't forget that forex itself is a very important market that serves many legit purposes, everyone from governments, multinational corporations and even tourists rely on this market for many important transactions that have nothing to do with speculation. I don't believe that initially the forex market was ever meant to be traded in the way it is today by retail traders. Anyway, you say that after going from strategy to strategy in the 2 years you've been trading forex it is central banks and government that determine direction of currency....
Forex market is a completely different from it was even 10 years ago. It has become a lot more liquid and it's getting more and more comlicated for traders. Lots of brokers, unrealistic expectations about their job make Forex even more difficult for understanding. It really looks like a scam, but it isn't.
  • #195
  • Mar 8, 2015 7:35am Mar 8, 2015 7:35am
There is no scam. I have been with oanda for 10 years now and besides the occasional platform issue, I have never once been scammed in any way. If I have a losing trade it is my fault, not my broker.
  • #196
  • Mar 27, 2015 4:22am Mar 27, 2015 4:22am
Forex itself is NOT a scam mate.

But a lot of frauds can happen in forex market and inudstry, as in any other financial practices or human-involved activities.
  • #197
  • Mar 29, 2015 4:02am Mar 29, 2015 4:02am
The scam lies in the trader's overall approach to trading - Kin
The only winner is the one who survive the longest...
  • #198
  • Mar 31, 2015 2:54am Mar 31, 2015 2:54am
I am a beginner and i am currently learning about trading, making the research i found a lot of negative reviews for big brokers and that got me worrying. What do i have to look for so i will not get scammed? is it only the regulators? is there any other requirements or does everybody in forex does the same ?
  • #199
  • Apr 2, 2015 9:09am Apr 2, 2015 9:09am
I think the GBP-CHF pair is a living proof there is something fishy about forex. Within 1 hour period it falls 2000+ pips which crazy speculators is willing to do that if his decision making is not decisive. It's because they knows which to kills that make it decisive to sell 2000+ pips at once and then rebounce for correction later on. This definitely wipe every stop losses all within the 2000++ pips range. How cool is that...
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Overbought + Oversold + Correction + Indicators = Are Not Equal
  • #200
  • Apr 3, 2015 3:29pm Apr 3, 2015 3:29pm
Perhaps the CHF was designed by their own country to take that fall? Usually, that provides a lot of investment capital in a country when a currency becomes weak against others. In the long run, when it comes back, companies, for example, have already invested when it is cheap, and the tax money and jobs created more than outweighs the temporary losses.
The world is not only black and white. There are WAY more agendas than just people working Forex.
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