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Is Forex reliable?

  • #181
  • Sep 12, 2016 3:37pm Sep 12, 2016 3:37pm
Quoting JensG
{quote} Whenever I tell them "I made a killing with cable today" they think I'm a serial killer ... and when in Munich they believe I killed Moshammer back in 2005.
... I got you before... .. you re the killer, who kills with a cable , right ;-)

Quoting gabanda
unreliable because: -overnight they can lower leverage as they did in the USA (from 500 to 50:1) -they can depress the market any time (making currencies move very little up or down) -overnight they can come up with some nasty taxes to pay

Overnight .. soso ..
Night is only where you are !
I tried to explain this my friends from Chicago , or HK( Im in gernmany located ) .. and it feels :" Whenever they have some beers , they call me "
-- and of course its in the middle of the night then ..... but only here, not there !

FX is day and night , monday to friday. = No overnight
Risiko birgt immer auch die Chance.
  • #182
  • Sep 12, 2016 6:51pm Sep 12, 2016 6:51pm
Quoting Sesamstrasse
{quote} ... I got you before... .. you re the killer, who kills with a cable , right ;-) {quote} Overnight .. soso .. Night is only where you are ! I tried to explain this my friends from Chicago , or HK( Im in gernmany located ) .. and it feels :" Whenever they have some beers , they call me " -- and of course its in the middle of the night then ..... but only here, not there ! FX is day and night , monday to friday. = No overnight
Overnight is fine if you can stay awake 24/7!!
Make your losses in demo. Earn your profits live.
  • #183
  • Sep 12, 2016 11:36pm Sep 12, 2016 11:36pm
Quoting Forexia
{quote} Overnight is fine if you can stay awake 24/7!!
thats the beauty on trading .. you can make your "work hours" based on the market and strategy you trade.

i as example trade the Asian session mainly and DAX (GER30) opening.

not because i live in Asia .. but because the markets do react to fit my strategy.
if this does change at some stage .. my timing will as well.. its as simple as that.
  • #184
  • Sep 13, 2016 2:25pm Sep 13, 2016 2:25pm
Quoting gabanda
unreliable because:
-overnight they can lower leverage as they did in the USA (from 500 to 50:1)
-they can depress the market any time (making currencies move very little up or down)
-overnight they can come up with some nasty taxes to pay
Everyone his own opinion but I don't think those things have much to do with FX or trading in general.

leverage: well, the US did that, I believe Poland did the same a while ago and Japan, too. Was it unannounced? I don't know but that has more to do with a few countries making a decision that affects some kind of business. Tell you what: they do that all the time in all sorts of businesses. On a more general note regarding leverage: if you max it out or if you're trading in some higher leverage regions changes affecting you will happen every now and then. Your broker has to protect his business.
"depress" the market: the same. Countries interfering in some sort of business, nothing new and certainly not specific to FX.
tax: they change taxes unannounced in your country? May I bluntly suggest to move to a first world country? They're usually slower ...
  • #185
  • Sep 13, 2016 3:17pm Sep 13, 2016 3:17pm
Quoting gabanda
unreliable because: -overnight they can lower leverage as they did in the USA (from 500 to 50:1)
-> get a real broker

I'm at pepperstone (Australia) .. and my leverage is by contract .. they can't change it at will, they have to inform me about it 24 hour in advance. as per Terms of Service. (it pays reading this stuff some times)
especially if you give them a ton of your hard earned Money.

Quote
-they can depress the market any time (making currencies move very little up or down)
-> trade bitcoin instead if you into currency .. or somethings that are based on real things .. like stocks
but besides all that .. the market "just" have to move .. the distance does not matter that much in terms of making money
the smaller the move the larger your position .. same risk same reward.
  • #186
  • Sep 16, 2016 6:19am Sep 16, 2016 6:19am
Yeah it is totally reliable if you are serious enough towards it, if not you may end up with zero capital soon.
  • #187
  • Sep 16, 2016 9:37am Sep 16, 2016 9:37am
i got 2 years experience in forex and i can say that this market is very reliable for big buck and very risky for small, it is that simple.
  • #188
  • Sep 20, 2016 4:29am Sep 20, 2016 4:29am
I think that it all depends on your broker. Forex is reliable if broker is regulated and allows you to withdraw funds anytime you want.
  • #189
  • Sep 21, 2016 8:41am Sep 21, 2016 8:41am
If you are like the casino gambler it is unlikely to win over the long run
  • #190
  • Edited Sep 23, 2016 3:09am Sep 22, 2016 8:43pm | Edited Sep 23, 2016 3:09am
Quoting ElComandante
I have heard many rumors about Forex that Forex is not reliable and Forex is a risky business and you can loss all your money. So I am very confused about Forex so plz help me and tell me Is Forex reliable or not?
Forex is risky. Simple.
However, there other risky professions out there also.
Let me add another blunt truth, you likely may lose your first account to bad trades because in this business, somehow people just learn through losses till they improve on their trading result.

But then, forex is one of the most profitable businesses anyone could venture into.

Once you are able to get a hang on what really works for you, you can have sustained profits.
  • #191
  • Sep 23, 2016 2:34am Sep 23, 2016 2:34am
Yes, in Forex there is nothing guaranted so trader have to improve their trading analysis and skills to get the proper trading knowledge and experience which should be the priority of every trader
  • #192
  • Sep 23, 2016 1:28pm Sep 23, 2016 1:28pm
Quoting gabanda
Yes, in Forex there is nothing guaranted so trader have to improve their trading analysis and skills to get the proper trading knowledge and experience which should be the priority of every trader
that pretty much sums it up in one short sentence

most peoples forget that most of the risks in forex just the same as the risks in other parts of life.
the only difference is that it can happen MUCH faster in Forex.

maxing out a credit card with the trust "pay it back on the next salary"is 100% the same thing as over-leverage a trading account.

so reliable ? maybe not .. but once you had the margin call .. its all over .. in real live things are different your bank does not have a margin-call .. as they live from you being in the hole
  • #193
  • Sep 24, 2016 12:11am Sep 24, 2016 12:11am
Yeah...! It is totally reliable, but it is advisable to have other options open, else you may end up with zero capital.
  • #195
  • Sep 25, 2016 4:29am Sep 25, 2016 4:29am
That's what I was thinking.. at the other end I'm running few successful stores and since I have outsourced them I'm willing to give it a try to Forex
  • #196
  • Sep 27, 2016 1:22pm Sep 27, 2016 1:22pm
Nevertheless it seem possible.
You have to study a lot ad to be very determined.
Some tools to estimate your gains and/or losses in Forex
  • #197
  • Oct 3, 2016 5:38am Oct 3, 2016 5:38am
I guess forex trading can be reliable as it can only be a legit business these days which is available online however we need to learn really hard in order to make money from forex.
  • #198
  • Oct 3, 2016 5:41am Oct 3, 2016 5:41am
Quoting jollypk
we need to learn really hard in order to make money from forex.
making money is easy .. trust me ...
KEEPING it .. that is the hard part
  • #199
  • Nov 30, 2016 5:56am Nov 30, 2016 5:56am
Quoting nullx8
{quote} making money is easy .. trust me ... KEEPING it .. that is the hard part
the hard part is how easy ways to earn money in forex trading business, and believe it will be difficult to do with learning a good part of the ways to be successful
  • #200
  • Dec 24, 2016 2:17pm Dec 24, 2016 2:17pm
As someone already suggested, start trading on demo (to have as much screen time as possible) and meanwhile start educating yourself about forex. You can do that with reading books, online stuff, or having a mentor, it depends on you. It will take time, but it's definitely possible to get there.
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