Perils of Forex - article from HRE

The article said Solt holds a Ph.D. in finance.

That explains it... he's a college boy, not a trader. That is why he sits around and bitches out because he cannot win - if he got in the open fx market real traders would eat him and his PhD.

 

Forex is NOT unregulated.

 

phD's don't trade rigged markets like retail dealer based forex. there is no edge there.

surfer

 

Yeah, you're actually right, since some time they've been under the supervision of the CFTC etc, what I meant was the fact that there is no single market place, and the CFTC can't be everywhere all the time.

But, like I said, find one of the few good brokers out there and there is very good money you can make trading FX.

 

Of course there's an edge! Your system just must identify it and trade it.

 

Well, as far as good brokers out there, I have found OANDA to be the best, and that includes all brokers covering everything traded.

For guys who are leary of losing huge sums, OANDA allows you to trade $1.00 at a time at 50:1 margin - I highly doubt having a 1 cent loss on a trade is going to destroy anyone's account.

If it does destroy their account, having a losing trade is not their problem.

 

That's why all those who advocate to learn fx through a demo until "consistently profitable" is bs. As quoted above, it is "very difficult" to wipe out an account of say $200.
At current prices (EURUSD), to "wipe" half the account using x30 leverage would need a dip of more than 2,000 pips, which is impossible. Or to lose 100 pips per trade for more that 20 consecutive times. No one with a little "grey matter" between his ears can do that!
Besides "most" wannabes are willing to pay hundreds or thousands for useless e-books while they can start "real" trading.
Wouldn't it be the supreme joy if a wannabe manage to build a fortune from $200?

 

Check this out!

WizeTrade is now selling their red/green lights for the FX market!

http://www.4xmadeeasy.com/

 

Any names?

 

Legend has it Richard Dennis turned $400 into $200 million.

I think it is entirely possible using the OANDA platform.

I routinely deal with 100 to 200 point drawdowns in EUR/USD cash and end up profitable. So, it CAN be done.

I've made (and retained) 10% on my total live account in (the last) 2 weeks trading time with my modified system.

As long as things don't get too far off base I'm well set to double my (microcap) port in 12 months.

You just need to pay attention, and work your @$$ off.

to