Forex Is A Scam

Discussion in 'Forex' started by Dr. No, Sep 17, 2009.

  1. Dr. No

    Dr. No

    I advise anyone considering to trade currency to stay away. Stay far away from this scam.
    Think about it. Govt's and Major billion dollar banks with multi-million dollar computer systems and ?"inside information" are trading. You think a guy with a computer and forex account sitting at home has a chance. Trade stocks or even futures instead.

    Please take my advice and save your money.
  2. cstfx


    You mean I have a better chance of being a successful trader if I sit home with a stock/futures trading account and compete against all those firms with their own multi-million dollar computer systems and their inside information? Or do the gov'ts and banks have BETTER multi-million dollar computer systems and better inside information than firms like, oh, say, Goldman? Nice logic.

    Either way, thanks for the heads-up buddy!
  3. Dr. No

    Dr. No

    Listen cstfx (fx at the end of your name...I wonder by any chance are you a forex trader...hmm)

    You are the type of reply I have been waiting for, and you set yourself up by indirectly informing everyone of your bias opinion. I suggest you go and keep trying with your forex account and watch you account slowly dwindle over time (if you are lucky).

    I have people from several currency brokers constantly calling me to open an account.
    (makes you wonder).

    Again I advise everyone please stay away from currency. Makes you also wonder why cstfx sounds so bitter in his reply. (Losing money cstfx??)

    Get a life cstfx!!!
  4. cstfx


    Actually the bias was yours, coming in here with this manefesto rather than sharing your extensive experience with the group and how you got shafted trading forex and how you were led to your conclusions.

    Whether you trade futures/forex/stocks, you are always playing against the big boys. Call them banks. Call them gov'ts. Call them brokers. To even think that you have a more of a chance of trading stocks better than a professional who does it for a living or their extensive computer systems rather than sneaking a look at ther Schwaab account between patients is rather ignorant. (and might I add, not the best treatment you are giving your patients either!) You can invest all you want and hope for the best in the long run but to try and be a good, let alone successful, TRADER fitting in trades between your real job, while not impossible, is extremely difficult, even for self-obsessed over-achievers, like, say, doctors. Plenty of non-bank individuals make a comfortable living trading all sorts of instruments (and yes, this includes forex), and if you can't do it does not mean others can't. (Hey, I can't trade excess prescriptions for fees, but you don't see me criticising what you do for a living.)

    Now, if you want to talk about how you got screwed by your broker, that's a different topic as there are numerous horror stories here and other forums where you might be able to contribute your own experiences.

    Who still cold calls people, especially for a forex account? And more importantly, who would even think about doing anything with these schmucks? Seriously. Why even mention it? The only people who get cold-called are people who don't know any better. Or are these just demo follow-ups, making your experience with forex nothing but as a demo trader?

    Like they say, don't quit your day job, doc.

    Oh, and speaking of being bitter, I bet your bedside manner sucks!
  5. Yeah what a scam, traders buying and selling currencies, whoever heard of such a thing! What will they come up with next!

  6. I primarily trade index futures so I have no axe to grind.

    But anyone who thinks forex is significantly harder to trade than other things really just does not get it (yet).
  7. sakhter


    only people calling you to open accounts are IB's.. or you signed up for some bucketshop demo and left your REAL phone number..

    compare how many Honda ad's you see vs. Ferrari

    compare how many bucketshop ads you see vs ECN.
  8. Sammy so we can get a better understanding of why your saying this please give us some reasons and maybe a personal experience because it seems you have traded forex before im just curious as to why you slam forex withut any real backing other than the inside information and big guy little guy disadvantage
  9. lol
  10. maflip


    It's not a scam you just dont know how to trade that is all...

    True there are bad brokers out there but yes you can make money trading forex or futures you just need to know how.

    Stop the blaming game my friend the fault is all in you just not knowing how to do it right.

    - Hope this helps...
    #10     Sep 18, 2009