I've read up to page eight and havn't seen this posted yet, I'm going to continue reading, just wanted to post before the stuff left my head, multitasking as well :/ so, here goes, FX is a leveraged market. What does this mean? It means if you trade stocks, futures, and some commodities, FXspot is an extra potential market you can play without adding a full account to it. What do I mean? Let's say you have 100,000 USD. You trade stocks and spotfx lets say... you put 80,000 into stocks and treat it as it is, lets say your appetite for loss is 20% of your 100k. You now can put 20k into an FX account, trade each trade as if it's .5% or .25% of your 100k. congrats, your now leveraging a 20k account to trade .5% or lets say your ballsy and do a full 1%. thats 1000USD a loss. you have 20. without losing in stocks. hence the .5 or .25% a trade. now you are technically trading an 80k stock account and a 100k forex account according to your rules and analysis. with 100k your now worth to yourself 180k. Why no one mentions this in a thread about FX being a scam is beyond me. Another thing, FX files you normally under 998, which marks losses as normal not tied to a $3000 USD cap. (for US citizens) I havn't done this, but theoretically, doesn't this mean i can hedge a couple of bets through the year, and when i file for taxes, close some losses to eat up my profits, file almost no profits made, then close out my winners? As long as there was no catastrophic movements from closing losers, filing, then closing winners, you should have made bank on avoiding a years taxes. you will have to pay when you stop, but you can compound your gains until you finally decided to pull out no?
a quite abstract comment ... you probably have to get out of the textbook plan and face the reality and build a practical plan from there.
Forex may not work for you, but don't call it a scam. There are people who are making profits trading forex.
Abstract how? One of the primary advantages of leverage is so that you can do this. You can't do this in every market. You can't do this if you don't have enough money. Let's say you only have a few thousand dollars. You can still play stocks, this allows you to also play forex while playing stocks to try and maximize profits whilst spreading risk. Point is, you don't have to split your money 50/50 while being able to treat your money as if it's more. This is not abstract, it's simply the power of leverage. The whole point of it no?
No I don't think that it is a scam. Forex in fact is the best source to earn some extra income. So it is not a Scam, not for me atleast.
I think forex is real business which we can trade at home, and might indeed not all broker will work with honest and sometime as broker also can scammed client, and investing money in forex just spent money that afford to lose, this will safier than investing all saving money