Forex = legal scam

Forex=Legal Scam, Well that is a weird observation, but I bet there is a lot of scam in the internet Forex happens to be one of the most common means of making money online, so yes there are scams out there, but putting the overall FX in that bracket is certainly debatable.

Which charting system you are using would you be so kind to share where can i see 2 months chart

Look at all these peasants chirping in with their own opinion, isn't it a wonderful sight.

The arrogance of that man, over there!

Feck off.

...

GDR, out.

Cya. Bye, good evening and goodnight.

I am relatively new to Forex. I have been trading since Dec of 2014 so my knowledge on the grand scope of what forex is...is limited. However, calling it a scam seems somewhat credulous to me. When I first started forex I had a 37% drawdown in my account as of Feb, however since I have spent more time in study and understanding of what Forex really is, my account is now up almost 30% from my original starting point. If it were a scam, this action seems somewhat opposite of what would happen. If it were a scam, promises would be made and early tentative results would be seen, then all starting capital would be lost.

With time and study great gains can be made and continued to be made in the Forex machine. Yes currencies derive most of their value by the actions of central banks, but buyers and sellers make up the largest component of what the real value is. All we as traders have to do is choose which side we want to be on and then go with that decision.

You can find scam on every fields so you cant say it totally scam. I do agree that many traders got problem with many brokers but this is also truth that many traders are getting good benefits from brokers.

While I do think I'm wasting my time here ... ah well.

Of course there is some manipulation in pricing here and there, positive slippage taken by the broker, negative goes to the client or other dodgy tactics, but I wouldn't overestimate that. Despite a few really bad scam brokers (which will probably exist), I would not call it a scam. But I'm really shocked what people expect: No thinking about risk, clear lack of discipline and to to top it all I keep on hearing things like "I'm new to that Forex GAME". Well, guess if people think its a game, I shouldn't be surprised. Its a business and just like many businesses many people fail in it, sometimes even for similar reasons. People seem to believe they can just sit in front of a PC at any time they feel comfortable and do a bit of cool trading, possibly with the kids playing next to them on the sofa. People are searching for some magic EA without understanding that there is no such tool available for a couple hundred $ working on MT4. Computers are good at trend following on high frequency, everything else: problematic. Tools may exist, but for a lot more money. Then they try some indicators without understanding what the indicator does, where it is good at and where it isn't. Forex probably isn't for everyone. It gives you fast responses: the market accepts your trade or it doesn't, not everyone can handle it. Losing is actually part of it, very complicated for many people, we grew up with the idea that only losers lose but we all want to be winners. The thing is: after you found a strategy, there is already the next problem: And again it's sitting right between keyboard and chair (old IT guy wisdom).

But at least for me: after over 10 years of self employment trading became my main income a few years ago and I can not imagine of going back to these so called real business. The reason is quite simple by the way: I don't have to crack some five-figure-number nut every months just to break even. I don't have to look after employees like they were children and if I lose, its usually my fault and not some business partner who I had relied on.
Just wanted to mention: Businesses are all just moving money, neither your carpenter, farmer or car dealer is creating money.

Oh and I found so much "scam" in every business field I was in, it's really just a matter of definition. Everyone who wants to sell you something lies, just for a starter.

Well, if Forex really is a scam, you are obviously the beneficiary

Or the culprit

most likely both

it's being manipulated but that's why they provide you with volume, which is a forex secret most traders don't talk about. it's not the holy grail but if you could use it the right way along with the charts. trust me man your results will be a whole lot better.

But very often they don't prove that they got benefits, unfortunately.

Yes, But if you found the a single best broker like me you can make more and more money and can avail much benefit through Forex Trading.

entering Forex without a knowledge it is like a teenager choosing his own father and mother

he will choose that he will allow him to play with fire,smoke,stay awake all the night and dont study.

the teenager dont know that he must do what ever his parents says so he dont regret in the future.

forex same

if you
over trade
over leverage
over be smart
try to control the market
of try to make a 1$ a 2$ in a trade you will face the ugly side of the Market.

I have always been wondaring is it really manipulated or not. I thought regulations, bla-bla-bla, but the opinion that it is manipulated and forex main skill is to use it as your advantage, to some extent, opened my eyes) If to be honest, I don't really care about whether it is roughly manipulated or not. As long as I manage to learn from istakes and make stable profit, I am satisfied with it

Bank and Hfunds r moving it obviously, small traders like us only represent 10% of market

Sure, if you not succeed in something, it's comfortable to call a thing "scam". It explains a lot your losses. Forex is guilty, not you

Legally - Forex is not a scam, theoretically - Forex is a business shark and this is a business of a large fish rather than a small fry who the ordinary trader is, being eaten everyday, practically - traders mostly loose and charge the broker with a scam. Forex = scam = trader who sits on a loss

You know what improved my odds in my favor significantly, correct position sizing and proper utilization of a stop loss. I have been trading for 8 months now and after inconsistency for so long, this one fix in my mindset change things around. By no means am I a consistent, profitably trader yet, but now I am not halted by my own destructive emotions that forex brings out of you and can concentrate on becoming proficient in a strategy. Would love to share more when I get the chance to start my own threads.

Reality check

Sorry , but you are a ignorant who have no idea what a market cycle is