How Risky is Online Forex Trading?

Discussion in 'Forex - Currencies Forums' started by Rainman, Jul 11, 2014.

  1. rachel

    rachel Member

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    Online forex trading is among the riskiest of financial ventures you can undertake. A demo account is definitely a good idea to test different strategies, but I would use caution. Demo accounts can give you a false sense of security in your own skills. And face it - despite the best intentions, you will never treat fake money the same as you will real money. Once you start trading a real account and experience the potential of losing real cash, you will experience all kinds of emotional stress. Uncontrolled emotions can be detrimental to trading. That being said, the greatest rewards can be born from high risk.
     
  2. allswl

    allswl Member

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    I also agree with the demo account advice because you want to see how the operation works and what you should or should not do. Also make sure you find out all you need to know about an online forex site before you go in with your money. Be fully aware of the fees including the ones they try to hide. Develop a system as quickly as you can and make sure you are able to change t as quickly as possible.
     
  3. joshua minaya

    joshua minaya Active Member

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    Forex trading is a very risky form of investment and the reason for this is that in the forex market no single individual can correctly predict the direction of the market every single day. There would be times when you will be right and also time when you will be wrong.
     
  4. daveM

    daveM Member

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    Best to study and put in a lot of screen time and learn how the market moves..... this business is self taught..... no sense being in a position to blame others for bad decisions, do what is required to succeed. Same as any other occupation or profession.
     
  5. JulianWilliams

    JulianWilliams Well-Known Member

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    Online trading companies, like those offline, make their money from the fees they charge their users. You have to look for companies that have a bit of a history and a good reputation so they won't run away with your money, but they should also have low fees, otherwise you're just feeding them money and not making anything for yourself. The issue with FOREX is also that you need to trade more often than you do with stocks, which means you pay fees more often. Personally, I don't really enjoy trading FOREX.
     
  6. owesem75

    owesem75 Well-Known Member

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    Forex dot Com offers so many tutorials, allows you to try their demo account.. but after having an account with them, downloaded the apps to run on my ****, why I still have the feeling that there is something NOT GOOD about this broker?
     
  7. petesede

    petesede Guest

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    You nailed it, the blame goes both ways. One thing I heard once is that the most successful scams target people who are overly-greedy. In this case, a lot of people don´t even know what Forex trading is, but heard they can make a lot of money easy, and so they invest some money and it gets eaten up by trade commissions that are way to high to be trading at low amounts. The brokerages are just taking advantage of greed and advertising to pull those people in. There is no such thing as easy money, and if you aren´t going to educate yourself, you are going to be the sheep, not the wolf.
     
  8. JoshPosh

    JoshPosh Guest

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    The simple truth is ma ority of forex traders are failing. If you don't have deep pockets then you could be possibly be a candidate for being bankrupt. I myself had my account called upon and had to constantly have my account reinstituted by depositing more money.

    Take your time when wanting to join forex. It takes years to learn the game. Lots of mistakes can be made so be careful.
     
  9. Manuel

    Manuel New Member

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    Forex trading is a risky business but if you acquire a good knowledge about Forex trading and create a demo account then you will become a good Forex trader.
     
  10. gracer

    gracer Senior Investor

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    That is actually one of my fears in trying out FOREX trading. With the many choices available in the web, it's hard to tell if it's legit or not. There are so many scammers out there who are just waiting for their next victim to fall into their bait.
     

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