Forex Is A Scam

Quote from 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...
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Ditto, :)
 
Quote from drsammy73:

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.
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it is called an "efficient" market, not "scam."
 
If the ignorance expressed in the posts of this self-described "doctor" is any indication of similar lack of common sense and over all intelligence in his chosen profession, it's no wonder the health care system is as screwed in the USA as it is!

God help us.
 
Quote from bpcnabe:

If the ignorance expressed in the posts of this self-described "doctor" is any indication of similar lack of common sense and over all intelligence in his chosen profession, it's no wonder the health care system is as screwed in the USA as it is!

God help us.
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lol I think "Doctors" should just stay put at being a doctor and stay away from trading. LOL
 
lmao, I don't think that forex is a scam personally and I'm a noob.

I do however think that the idea that you can make 'profits' from it is questionable. For instance if you manage to turn a few thousand into a million except it's in a currency completely different from your country you are going to only be able to use the money you've gained in that particular country. Not only that you may well end up just ending with far less than what you had gained in profits if you try and get the money to your currency through a normal currency exchange.

Like I said, I don't consider it a scam, but I find the whole notion that you can earn a profit from it is rather silly which is why I want to go into commodities instead because then I at least can know that my profits are tangible at least, that's the kind of understanding I've gotten from the research I'm doing so far.
 
As a physician everyday I go to work and enjoy that I help people. I do not day trade, because I do very well in my job

I placed my post to warn the beginner or intermediate investor of the extreme difficulty of trading forex. Maybe it is not a scam per say. However, if it was so good then why do the majority of people trade equities. Also, many of you have admitted that is EXTREMELY difficult.

As far my situation, I lost only a few hundred and I quickly stopped. I sold EURUSD near the high, and got bounced around a few hundred loss. Everyone here would admit the EUR was overvalued and was at 1 year high.

Now for the following people:

cstfx- Good luck and I hope the best for you.
However, I do not agree with you.

Cabletrader- Thank you.
Kiwitrader- I also enjoy trading index futures, and would recommend iintermediate and advanced traders to learn.
mayflip- I agree. I lost a few hundred a quickly stopped. I would like other beginners to stay far away from FOREX.
baron193- Agree
davidmaria1- You are very immature. Grow up.
Sakhter- ?What are you saying??
SBWthetrue- Thank you.

Trader Zone- I disagree. Explain to me why the British Pound is stronger the US dollar for so many years.

http://finance.yahoo.com/echarts?s=...pe=line;crosshair=on;ohlcvalues=0;logscale=on

Jplazarad- Go play with Davidmaria1.
bpcnabe- Doctors don't design the healthcare system--- The Government does.

Here are some article of the dangers of forex:

http://ezinearticles.com/?The-Dange...-Can-Avoid-Repeating-Their-Mistake&id=1799473

http://ezinearticles.com/?The-Dangers-of-Forex-Trading&id=1241093

http://www.moneytec.com/forums/f14/hidden-dangers-forex-trading-24822/

I am certain their will be vile and immature comments by a few. However, I hope that many will be helped by this discussion.

Good luck to all.
 
Quote from drsammy73:

As a physician everyday I go to work and enjoy that I help people. I do not day trade, because I do very well in my job

I placed my post to warn the beginner or intermediate investor of the extreme difficulty of trading forex. Maybe it is not a scam per say. However, if it was so good then why do the majority of people trade equities. Also, many of you have admitted that is EXTREMELY difficult.

As far my situation, I lost only a few hundred and I quickly stopped. I sold EURUSD near the high, and got bounced around a few hundred loss. Everyone here would admit the EUR was overvalued and was at 1 year high.

Now for the following people:

cstfx- Good luck and I hope the best for you.
However, I do not agree with you.

Cabletrader- Thank you.
Kiwitrader- I also enjoy trading index futures, and would recommend iintermediate and advanced traders to learn.
mayflip- I agree. I lost a few hundred a quickly stopped. I would like other beginners to stay far away from FOREX.
baron193- Agree
davidmaria1- You are very immature. Grow up.
Sakhter- ?What are you saying??
SBWthetrue- Thank you.

Trader Zone- I disagree. Explain to me why the British Pound is stronger the US dollar for so many years.

http://finance.yahoo.com/echarts?s=...pe=line;crosshair=on;ohlcvalues=0;logscale=on

Jplazarad- Go play with Davidmaria1.
bpcnabe- Doctors don't design the healthcare system--- The Government does.

Here are some article of the dangers of forex:

http://ezinearticles.com/?The-Dange...-Can-Avoid-Repeating-Their-Mistake&id=1799473

http://ezinearticles.com/?The-Dangers-of-Forex-Trading&id=1241093

http://www.moneytec.com/forums/f14/hidden-dangers-forex-trading-24822/

I am certain their will be vile and immature comments by a few. However, I hope that many will be helped by this discussion.

Good luck to all.
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I am saying good brokers, non-deceptive practice brokers, will not advertise as much... Example: IBFX.

"However, if it was so good then why do the majority of people trade equities."

If majority of the world's populace were not involved in the foreign exchange market, why is it the BIGGEST MARKET IN THE WORLD?


"As far my situation, I lost only a few hundred and I quickly stopped. I sold EURUSD near the high, and got bounced around a few hundred loss. Everyone here would admit the EUR was overvalued and was at 1 year high."

.... I am sorry you lost money for being an idiot and instead of trading in steps (ie. if this, then that) mentality you are following OB and OS indicators.

And no, not everyone would admit that it was "over-valued." Because if i think the rest of the market is about to go short, I go long. I gotta make money somehow.
 
Quote from drsammy73:

Trader Zone- I disagree. Explain to me why the British Pound is stronger the US dollar for so many years.
.
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How is it stronger? it just had a higher base value. Is the dollar stronger than the yen because it has been about 100 yen to a dollar? Obviously not.
 
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