Forex is a scam

Discussion in 'Forex' started by mounafia, Sep 4, 2009.

  1. jfyi, Lipschutz blew out several times big time...

     
    #41     Sep 5, 2009
  2. cstfx

    cstfx

    More likely the main reason no one posts there is because whatever numbers someone posts will be called out as bullshit or demo numbers, especially since forex gives the trader so many opportunities to demo stuff allowing them to pic and choose the results they want. Just look at some of the stuff people post here and the constant accusation of "photoshopping" results. Why would they bother dealing with the same crap in another thread.

    People do make money trading forex. But the rare 100% gains are few and far between.

    The trick to surviving and being positive in forex is not all about the leverage, it is about the old 2-3-5% rule. So long as you tailor your trades to honor your stops following these % loss rules, you will not blow out your account in 30 seconds. Only Dave Kingman would put themselves in that position to leverage themselves to the max for the chance of the one big score. If you learn proper trading and loss principles, you CAN make money trading currencies.
     
    #42     Sep 5, 2009
  3. my goodness, there is a reason I never touched Western women. Mine wants it every night, sometimes more than once a day, and I end up being the one faking headaches ;-)




     
    #43     Sep 5, 2009
  4. cstfx

    cstfx

    Joe Lewis made a fortune trading currencies. It was when he dabbled in the equity side of the Bear Sterns fiasco that he got is lunch handed to him:

    http://www.digitalalchemy.tv/2008/03/joseph-lewis-lost-1-billion-in-bear.html

    BTW, I have "never heard of any person get rich" selling their system on C2 either.
     
    #44     Sep 5, 2009
  5. #45     Sep 6, 2009
  6. FX is a market that REQUIRES an EDGE. Not your basic TA.
     
    #46     Sep 6, 2009
  7. Surprise

    Surprise

    u dont need to choose , u can daytrade futures and FX for daily income ( money generator ) and u trade stocks longer term to make the real big money ...
     
    #47     Sep 6, 2009
  8. blnbr

    blnbr

    Mind you, there are a lot of scams and manipulations in stock and futures markets too. Hope you don’t close out your stock account in big disappointment 4 years later and looking for another market. :cool:

    Wherever there’s big money, there are scam artists around, that’s the reality today. It’s just a matter of how you deal with it. Good luck bro.
     
    #48     Sep 6, 2009
  9. plan

    plan

    5% risk is a lot per trade -- how is that conservative
     
    #49     Sep 6, 2009
  10. FredBloggs

    FredBloggs Guest

    you seem to be mistaking brokers for traders. there isnt as much skill in broking.
     
    #50     Sep 6, 2009