What in the world is Forex Trading?

Can anyone give me the basics and then some on what it is exactly? If I have just a few thousand to invest, is this something I should consider looking into? Should I just play the market / funds? What are the pros and cons of it?

1st off don't listen to some degenerate who say don't do this and that then in the next sentence say I don't know much about it. people like that need to keep there yap shut. Forex is buy and selling currency pairs at the same time. You can get started for about $300. Not the thousands some other idiot here talked about. But before you do that open a demo account and practice. Buy a book or 2 and read all you can then apply what you learned. Give it a few months and see if your ready.

Crawl, Walk, Run. Sen Clay Davis - The Wire.

http://www.smart-forex-live.com/forex-killer.html

This site provides a comprehensive review of Forex Killer as well as a link to the Web site. I know that they can help start investing with only $500, and they also show you how to trade. Check this software out and I hope you make lots of money!!

If you want to learn how to trade properly and stand a good chance of making money from the word go then you should check out a community started by a pro trader called Jason Jankovsky.

The guy knows his stuff: http://theforexbrotherhoodreview.blogspot.com

There's a pretty nice article entitles "Introduction To Forex Trading" here: http://www.forexfromscratch.com/tutorial_introduction_forex.html

Hi, Forex trading is the "new buzz" lately. An old game that hasn't been played by the masses......but let me warn you....it is a very old game that is played very well by the sharks. I myself don't know a whole lot about it...but here is my experience. I was a Limo driver in NYCity for about 10 years....i had super rich customers who regularly requested me as their driver for an elite company. I had 3, 29 year old guys who were no less than "brilliant" in all respects socially. The were "currency" or "bond" traders on the NY stock exchange. Back in 1996, we all had "Skytel" pagers.......pagers that would read out "currency exchanges" throughout the night world wide. Basically, the skytel pagers would inform everyone that the "Dow" closed at 200 points down, but the "Yen" in Japan was trading at 300 points up a few hours later. So, what was the money gonna exchange at when the sun rose in London? And, before it got back to the states? Around the world......hmmm, who knows, lets speculate. Like i said, i don't know much about it but i do know this.....if you have a few grand, "STAY AWAY"!!! Even back then, these sharks i catered to would be sitting at the bar, sluggin alcohol and guessing if they could make a buck, on a hunch, or "how they felt about it"...... stock, currency, or bond brokers get paid whether you win or lose....they get paid both ways....win or lose, they get their commission. These guys get "paid" pennies on the dollar.....but, they move so much money "per transaction" that it is worth it to them. They will call "Larry Ellison" at 11pm and tell him the "yen" is up and his boy "Joe Blow stockbroker" feels good about a Forex trade of 10 million. Ol' Larry says OK, and the deal is done with a few punches of a few buttons. The Yen goes up a few points.....we all make out good, Ol" Larry is happy. The Yen drops a few points, oh well, Larry ain't to happy but Joe Blow still gets paid. And, he is half drunk when he made his recommendation to his customer. Trust me, these guys are "sharks" and got there by stepping on small fry. They might only get paid $90,000 a year but if they buy and sell well they can get bonuses of $800K-2 million or more.....usually around Xmas time. Most stockbrokers i ever met move more money in a day than i will see in a lifetime.
A few grand ......save it. Invest in an ice cream truck or other small enterprise. Then you have a chance. If you desire or fall for the trap of Forex.....chances are very good your gonna lose. The sharks will take you down......don't get me wrong.....they want to do well to so you come back.....but if you trust them and they lose your money, they still get paid. Good Luck!!!

Forex is short for foreign exchange. Essentially it's trading currencies. I would not advising going into forex if you are a novice investor. Plus, you really need more than a few thousand to get started.

If I were you I would look into buying a parcel of shares and writing covered calls on them. That's pretty much the 'safest' market strategy you can utilise to get an income each month.

Enter Your Message or Comment

User Name:
User Email:
Post a comment:

Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.024
Copyright (c) 2011 Financial Crisis Monday, May 28, 2012 - Terms of use - Privacy Policy