How to make money out of forex

[BentRod]

Ah just in time.

 

[Stormin_Norman]

Sorry Norman for misunderestanding. What you mentioned that currencies are a ratio and not a price complethly true but from the point of trader's view all are numbers. We where looking something makes Forex worth trading.

yes. because its a ratio, not a price.

i ask you. why would that make it worth trading?

 

[bunyip]

Thanks for all comments, Forex market differs from others in this aspects:

1- It is a 24-hour market
I myself don't mind it a real advantage. Cause currency pairs have awake and sleep time like us. From other point of view, most of trading systems have a limited trading hours.

2- High leverage
Most of Forex brokers provide high leverage like 100, 200 or even 400. In my age and experience I haven't found out any fair reason for that. Most newbies lose all their money using high leverage. If you ever heard about money management you know to keep your account away from the danger of blowing out, you should reduce your trading size. In other words not use that much leverage. So High leverage is not a advantage as well.

3- Low Cost & Liquidity
I have never tarded nothing but currency and don't know how much this two factor are important but I'm sure they can't turn a loser to winer

4- No Volume
As you know in Forex we haven't volume. You can not get confirm of all your indicators with most valuable indicator (Volume)

5-?
Then Why Forex?

So far you've done nothing but waste our time. Get to the point. If you've got some 'profound' advice for us, then let's hear it.

 

[MS+Tradesim]

"Popcorn! Get your popcorn!" opcorn:

"I'm out of red hots though. We're now serving kebabs! Finest, grade A WW2 canned spam kebabs!!!" :kebab

 

[juw177]

Personally I trade forex for several reasons:

- Profit from stupid or sound actions of governments (mostly stupid)
- Hedge against open positions when markets are closed
- Less price manipulation

And it is always good to keep an eye on forex markets as it tells a lot about the current market conditions

 

[disarray]

Why Forex?

the lord says "don't change the subject, just answer the focking question"

 

[Felix Profound]

Personally I trade forex for several reasons:

- Hedge against open positions when markets are closed

juw177, you mean we can't hedge our open positions in other markets?

 

[nunthewiser]

agrees with the lord

 

[macca]

LOL, I am getting a laugh out of this thread.

So far it is a total waste of space, but entertaining

Amen to that Nun, Methinks the time is fast approaching when Felix will enlighten us about how to make money on Forex, for a small fee of course.

 

[nomore4s]

How to make money out of forex

1. Come up with some 'black box" trading system.
2. Spam various forums with cryptic posts about how the forex markets are the way to make mountains of money.
3. Eventually introduce your "trading system" with excellent previous results and stats. Telling everyone it's the easy way to millions and you can't miss.
4. Eventually reveal how much this system will cost - a small outlay for the possible millions people can make on forex with this system.
5. Retire to some luxury island to live out the rest of your days.

 

[doctorj]

- Less price manipulation

Really? I thought Central Banks & governments bought/sold their own currency to smooth out fluctuations or to keep it in a band all the time? I know Australia does it to some degree, but there are the more extreme examples where there are formal bands - China, Russia, Kazakhstan, most of the countries on the eastern edge of the Euro zone, a lot of South America, Singapore... I could go on. Even the Yen is well 'managed' by their government.

Soros' famous trade against the pound was only successful because the Germans decided not to intervene to support the pound at the last minute.
Plenty of manipulation in currencies!

Right now, global currencies are in a 'race to the bottom' to devalue in order to remain competitive.

 

[Stormin_Norman]

Right now, global currencies are in a 'race to the bottom' to devalue in order to remain competitive.

its like boxing match ups between weaklings atm.

gold will most likely pound them all.

 

[aohx075]

Is it coz we can short/long it? lol

 

[nizar]

How to make money out of forex

1. Come up with some 'black box" trading system.
2. Spam various forums with cryptic posts about how the forex markets are the way to make mountains of money.
3. Eventually introduce your "trading system" with excellent previous results and stats. Telling everyone it's the easy way to millions and you can't miss.
4. Eventually reveal how much this system will cost - a small outlay for the possible millions people can make on forex with this system.
5. Retire to some luxury island to live out the rest of your days.

GOLD!

 

[kam75]

How to make money out of forex

1. Come up with some 'black box" trading system.
2. Spam various forums with cryptic posts about how the forex markets are the way to make mountains of money.
3. Eventually introduce your "trading system" with excellent previous results and stats. Telling everyone it's the easy way to millions and you can't miss.
4. Eventually reveal how much this system will cost - a small outlay for the possible millions people can make on forex with this system.
5. Retire to some luxury island to live out the rest of your days.

It's good to see these days more and more people are becoming educated not to fall for the lies of the wealth creation snake oil salesman!

 

[finvik]

Hi everybody
I'm here to give some valuable advices about trading Forex. I hope some day in soon future, this topic be very useful for everybody interested in this about. This happens just by a group help.

First of all, I am interested to lead the subject with an important question.

Why Forex?

In other world what makes Forex specific to motivate us to trade it (out of other instruments) ?

I don't know what type of advice you are going to give us but i am giving you the most simplest way to make money out of forex is The object of Forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.
Example of making money by buying euros
Trader's Action EUR USD
You purchase 10,000 euros at the EUR/USD exchange rate of 1.18 +10,000 -11,800*
Two weeks later, you exchange your 10,000 euros back into US dollars at the exchange rate of 1.2500. -10,000 +12,500**
You earn a profit of $700. 0 +700
*EUR 10,000 x 1.18 = US $11,800
** EUR 10,000 x 1.25 = US $12,500

An exchange rate is simply the ratio of one currency valued against another currency. For example, the USD/CHF exchange rate indicates how many U.S. dollars can purchase one Swiss franc, or how many Swiss francs you need to buy one U.S. dollar.

 

[Wysiwyg]

For example, the USD/CHF exchange rate indicates how many U.S. dollars can purchase one Swiss franc, or how many Swiss francs you need to buy one U.S. dollar.

I`ll take the second option, that is the "quote" (CHF) is how many Swiss Francs you need to buy 1 U.S. dollar.

If the "quote" was CHF/USD then this indicates how many U.S. dollars will buy 1 Swiss Franc.

Remembering the "quote" is the second denomination of the pair.The first denomination is the "base".

 

[AbundantIncome]

very hard is the answer ... i have been demoing ... my profit has not changed for a few days now !!!

 

[Page]

There are many options for making money online. But what is the suarity that you will get the payouts. Some customers are there who like to make money online free of cost and do not want to invest in it. But cannot find any such site. Is there any such site available

 

[Kauri]

It is a chart, first and foremost... FX.. soft commodity.. oil... metals... shares... cockroaches dashing for a bait... I often have trades on and look later to see what they are on... everything is a commode to be traded, or nott... if it meets the plan, it's on... speaking of which, pork bellies looking good, must be the spam market picking up... time to bury the snout in the trough... again

Cheers
........................Kauri