As I opined in another thread I opened a few weeks ago, why would anyone trading forex need a prop firm to do that ?
Retail forex already gives you huge leverage, and you do not need to share any of your profits with the prop firm, no fees, no one to tell you what to do and no need to quit your current job.
In addition, complete safety of your funds if you pick the big companies (Citi fx, Deutsche Bank or UBS to name a few).
The only problem with forex is the volatility, and if you fall in the temptation of trading short time frames with high leverage, no doubt you will lose money, because the forex market is a crazy, fast bitch with not mercy.
I went through that, lost some money, and learned my lesson.
We all fall prey to the sexiness of day/active trading, highly leveraged. I'll never forget the excitement of making $100 in less than a minute by making only 10 pips (I was using $10 per pip). Unless you have a huge account, that's just plain stupid.
Now I only look at daily charts, that btw on forex trend beautifully, and use very little leverage and ride the trends. No more waking up at 2am fearing the worst, not more panic attacks when some news comes out. Been there, done that. But it seems we all have to go through that before learning the lesson.
Retail forex already gives you huge leverage, and you do not need to share any of your profits with the prop firm, no fees, no one to tell you what to do and no need to quit your current job.
In addition, complete safety of your funds if you pick the big companies (Citi fx, Deutsche Bank or UBS to name a few).
The only problem with forex is the volatility, and if you fall in the temptation of trading short time frames with high leverage, no doubt you will lose money, because the forex market is a crazy, fast bitch with not mercy.
I went through that, lost some money, and learned my lesson.
We all fall prey to the sexiness of day/active trading, highly leveraged. I'll never forget the excitement of making $100 in less than a minute by making only 10 pips (I was using $10 per pip). Unless you have a huge account, that's just plain stupid.
Now I only look at daily charts, that btw on forex trend beautifully, and use very little leverage and ride the trends. No more waking up at 2am fearing the worst, not more panic attacks when some news comes out. Been there, done that. But it seems we all have to go through that before learning the lesson.
