Is FOREX a SCAM?

Quote from ozarka:

All he does is throw out insults and doesn't in anyway refute that forex is a scam. If anything he reinforces it by refusing to answer the questions.

STAY AWAY FOLKS AND DON'T TRUST CABLETRADER UNTIL HE CAN BACK UP WHAT HE SAIS.
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Perhaps if you learned how to trade AND not overleverage yourself, you might have a shot?

It's amazing how many morons start "trading" FX with 200:1 leverage (or open up a futures account with 2K and trade 4 ES contracts off the bat with no stops) and blame the brokers for their losses...
 
Quote from l2tradr:

Perhaps if you learned how to trade AND not overleverage yourself, you might have a shot?

It's amazing how many morons start "trading" FX with 200:1 leverage (or open up a futures account with 2K and trade 4 ES contracts off the bat with no stops) and blame the brokers for their losses...
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Dammit!!
There goes another "edge".!!
 
Quote from cabletrader:

Back up what I say about what, the fact that you're a fool? No need to, your posts are evidence enough! :p

So tell me, how does anyone but a complete idiot lose it all?
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"A fool and his money are soon parted." - Thomas Tusser (1524–1580)

Nothing changes.
 
Forex is tough! only the big boys and central banks can make the big bucks as they have much better visability into the market versus the $3 e-signal package you are using. :p
 
Forex is a scam and an opportunity. It easier to be on the scam side. To be on win side, you need to know. Not everyone can know, otherwise no winners, and no losers.
 
Forex is not a scam. It is just very difficult to trade. Given the normal expected required risk/reward, it is very difficult to scalp the market. However, there are some good traders who could successfully scalp forex, but their expected risk/reward is different from the norm. However, they make up for it with higher number of winning trades.

With the normal expected risk/reward, there is only one way to trade, and that is George Soros' way.

PA
 
Quote from Pension_Admin:

their expected risk/reward is different from the norm. However, they make up for it with higher number of winning trades.
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Exactly, mine is skewed beyond belief most of the time but risk management and win:lose compensate.

You're about the first person I've come across who actually understands the concept of scalping, most people seem to have an obsession about risk:reward!
 
Quote from cabletrader:

You're about the first person I've come across who actually understands the concept of scalping, most people seem to have an obsession about risk:reward!
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Thanks! I think most people are obsessed about risk/reward is because they were taught that way. However, most may not understand the statistical concept behind it. Also, depending on the timeframe, the instrument, and the comission/spread, rules have to be modified to enhance the chance of success.

PA
 
Quote from indaba:

Forex is tough! only the big boys and central banks can make the big bucks as they have much better visability into the market versus the $3 e-signal package you are using. :p
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that's weird

pretty sure i am looking at the same charts they are--- and i can see just fine

a chart is a chart




i love this site!!!!!!!!!!!
 
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