Is Forex Trading Really Worth It?

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I've been really interested in getting into Forex Trading.. I've seen products for currency trading all over clickbank although I probably wouldnt purchase a clickbank product. So I guess I'm wondering is, are any of you Warriors having luck with currency trading?

The learning curve seems pretty steep.. Is it really or am I just a bit intimidated?

Would you say Forex Trading is Risky?

Would it be worth it for me to start learning Forex Trading.. It can obviously be profitable but can a normal guy profit?
#internet marketing product reviews & ratings #forex #trading #worth
  • what do you mean by worth it? Easy money? It's all about risk/reward. You can make about 40% to 50% per annum with bumps along the way. Decide if sitting in front of the machine 8 hours+ day is worth it.

    Forget those B*S* trading robots for $99, $199 etc that prmosie to turn $1,000 into $2 million. LOL I really do not know who is the worse one? The scam creators (illegal sales pages) or the mugs who believe and buy into it.
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    • I've been a trader for over 20 years and have traded everything from stocks, to futures, to currencies(forex) so I feel qualified to say...

      Stay far, far away from the Forex markets. Theres' really to much leverage which can work for you but it disasterous when it works against you. These are the largest markets in the world and are traded by resources from entire nations. (not individuals with dinky desktop software)
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    • The days of forex being unregulated will be coming to a close in the near future.

      I would love to see how these scam artists are able to keep their sales the same when they are not allowed to guarantee anything, mention risk in the same capacity as the mention reward, and have to send in their promotional materials to the NFA to get approved.

      I do not have too much experience in Forex so I won't bash it besides how people guarantee all these millions with their "robots" or whatever.

      I find many of my clients/prospects I speak to come over from trading forex explaining how they were burned by a "system" and how they were guaranteed to be millionaires by brokers and people selling forex-related products.

      I will assume, as with any trading, in order to be successful you must have have the mental aptitude for trading, money management, and LOVE doing your due diligence in research.

      I am in futures and futures options, and I would say 9 out of 10 people that come over from equities or are new to trading as a whole will fail. Many will rush in and try to day trade their entire account the minute it is opened and receive a margin call shortly after.

      Bottom line is, know what you are doing before you start trading!
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    • Don't do it - its a booby trap. I lost my pants in it and continue to pay the debt off.
  • Yeah the learning curve is steep and yes it carries risk - just like PPC.....buying a home...

    I was sorely tempted for a long time and took some trading courses, what ended my trading days was how I consistently lost money in my practice account.

    Cheers,

    Jonathan
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    • Well I don't see PPC as a risk at all. I see it as purely mathematical.

      And a house to me is an investment.. I would never put myself in a situation to where buying a house was a risk.

  • Just let me say, i back up some of my funds with this. Just setted up an account and put some EA into it.. I have no time to trade by myself.

    But it brings some extra $$ every month :-)

    Patrick
  • If you are wanting to get into Forex trading and make some good money then there is only one person I know of who does 'extremely' well with it and has been in the business for a lot of years.

    He offers training courses among other cool products. He's a Warrior members called Loz.

    Check out his site here... Forex Mentor Program. Forex Signal Videos, Learn Forex With Forex Signal Mentor

    I'd always be a bit wary when i comes to Forex as there is a lot of cr%p out there but I would have no hesitation at all for recommending this guy.

    Andy
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    • Cheers for the plug Andy.

      @Jonathan

      Maybe those courses was not teaching you the real way to trade.

      About 10% of my members were trading for about 1-3 years and were going up and down and up and down all the time, some blew their account out many times over. As soon as they jumped on my course, they're doing much better.

      The rest are all newbies, and most of those are doing great, and what makes it better is we have over 90 people in a skype group chat every day chatting about the strategies I teach them, amongst themselves, they all call out signals and the rest of the peeps in the group jump on their charts to see the buy or sell signal that was called out, and why it was called, and discussions go on from there.

      Some of them are that good (which they don't really realize yet) they could start their own forex signal service
  • Just had to throw in 2c

    The learning curve is extremely steep and requires an insane amount of hard work before you make "easy money", as another warrior pointed out.

    Software out there is Cr@p. My partner is a programmer and we have programmed a zillion EAs. None of the commercially available "robots" work. There are some EAs which work (or at least you can code if you know coding) but they require human skills as well.

    A mentor is invaluable.

    Is it worth it? I don't know about you. But it is not "Easy money". Nor is IM. Nor is anything in life.
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    • yeh, Steven Lee Jones, Mark Trenton, Tom Strignano and many others all come out with crap EA's and none of them work.

      Tom's manual strategies do, cos I've been using them as long as he has. Not that he taught me, I'm self taught.

      I had an EA called "FX Price Action", unlike may others like Mark Trenton who claims to make $10-20k in a few days on a robot which didn't do that when I tried it, it blew a $1k account out of the water in the first two days. Same too with Steven Lee Jones EA's...

      My FX Price Action worked great for 6 months, then it went into beta testing, then faced some problems during the xmas period, and within two months (nov and dec last year), it blew the account out due to too many losses... so unlike these other guys, I want to make sure they do work before releasing them out to the public.

      I do have one that is not for sale, which cost me over $50k for it to be developed, which is being used now to help a bunch of people, currently we're up by $46,000 or so in 8 months on a $126k starting balance. We're hoping in the next 2-3 years it will hit the $1 million mark.



      Forex is easy, most people approach it the wrong way. Just like IM, or SEO, Keyword research, all of it is dead easy.

      Unless you're taught by the right person, no matter the niche, it will be easy to do, otherwise you're up the creek without a paddle.
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  • Forex market is volatile.You can make a lot of money if you know what you are doing.
  • There's a perception that the Forex market is extremely risky - more so than other markets like equity.

    This is a flawed perception for many reasons. One reason for the existence of this perception is the high leverage levels that forex brokers offer.

    Now if you know nothing about forex and start trading, you will start sharing this perception because of the lure of using high stakes (relative to your account size) to rake in big money in one go. Couple high stakes with high leverage and you have a perfect recipe for disaster.

    This kind of behaviour is similar to try your had with PPC without knowing anything about it. If you start putting money in PPC without knowing how it works, chances are very high that you will lose your money. And just as fast as you would lose by trading forex with high stakes and high leverage.

    The other side is true as well. Just like PPC, if you know what you are doing, chances are very high that you WILL make money from Forex.

    The key thing is to take a disciplined approach and use good money management while trading.

    This might sound simple but I guarantee that when you get down to it, you will realize just how difficult it is to stay disciplined.

    A thing about robots. Don't use robots. Period.

    Currency markets, due to their very nature and dependence on day to day events, are extremely volatile and unpredictable. Any robot which will work for Month X or Year X, WILL result in losses sometime in the future.

    So I guess what I'm trying to say is that there is a very real possibility of making money in forex trading but nothing more than any other business opportunity.
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    • Unpredictable? really?

      When I've uploaded a video to amazon, I'll show you HOW PREDICABLE THEY ARE!
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  • It's extremely risky. It requires tough nerves, lot of money and ability to stay emotionless.

    It really is a dog eat dog world.

    I've invested in Forex through a broker I know and fortunately didn't gain or lose anything. Crisis started and he couldn't apply the techniques any more.

    Be careful and aware. If you want to master Forex yourself, you will have to invest a lot and probably will not be able to do IM as a side job. The thing in Forex is - whenever someone wins money, someone else loses it.

    Furthermore, all the big banks are doing and sharks like George Soros as well. You will be competing against these people.
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    • Sorry, that it nonsense.

      It's ONLY risky if you DONT KNOW WHAT YOURE DOING! Period!


      No it don't, it only takes nerves if you don't know what you're doing. trading on emotions is NOT a good idea!

      trading mechanical strategies removes the emotional ties.

      That's what I teach my students.

      NOT TRUE!

      A person can get started for as little as a dollar.
      A dollar looks like $100 on a micro account, trade for as little as 1 cent a pip.

      $100 looks like $10,000 in your account on a mirco.

      What has the crisis got to do with it? Nothing. the forex markets are no different than they were back 10 years ago, it moves up, it moves down.

      Who ever tells you that a crisis is hard to trade in, like when 9-11 happened, or when Oil went up, or what ever, just don't know what they are doing.

      the technical analysis if done properly, will tell you what will happen next.

      in a webinar last week I did for my students, I showed them a 700 pip move and told them where it would end up, and we've just reached that 700 or so pip level.

      Dude, you do not need a lot of money... what ever circles you have been going in, jump out of it, cos you've been fed a lot of nonsense.

      No you're not, you're not really competing against anyone but yourself.

      it's not a competition, it's not a race to see if you can make a million in a year.

      It's about keeping your composure, keeping your cool, trading when you should trade and leave it alone when you shouldn't trade.

      Master that, you're on your way to the top 5% of those who win...

      Take out greed, and you'll be in the top 1%
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  • I'm going to throw my two cents in....


    A lot already has been said but to confirm Loz on most of his points.

    I trade with GFTforex as well as Foex.com, I started an account with $250 to just "play" around in the marketplace and take a step on the learning curve.

    First... It's Risky...

    That is a bull comment made by most newbies in the marketplace cause they don't know what they are doing. I find it safer since I can't trade what I don't have in margin. You invest $250, you either will lose $250 or make more. Yea, sure each trade can be risky, but what you trade is what you can lose.

    It's also called Risk Management. You place your limits, your stops, you say what you want to lose, what you want to profit. With every trade I know my exact risk, nothing more, nothing less.

    You need a lot of money.

    That is also a lie, I started with $250. Traded with discipline on obvious movements and over a month worked the account to $500, then in three months worked it to $1,500.

    You can start with $250 with most brokers using a mini account and trading only 10,000 and below.

    It's stupid to just start out with $2,500 and start trading 100,000 lot sizes.

    In fact, if you really want to just play around, you can look into Forex Trading | Forex Trade | FX Trading | Currency Trading with their $25 micro account trading lots of 1,000. You invest around $5 or so per trade, but it is a great learning experience.

    +++++++++++++++++++++++++++++++++++++

    The markets are extremely predictable, especially in the past few days. Learn about trend lines, learn about the indicators, learn the fundamentals behind the markets and read the news.

    A simple trading method....

    You don't have to trade everyday, I have had movements of 100-200 PIPS in one day, but I knew it was going to make that movement and so I was able to profit large on it with a large leverage.

    Watch the support and resistance levels.

    Anyways, my maybe three cents.
  • so why not just tone the leverage down to 3:1? Just becasue Fapturbo b*S everyone with fake scren shots showing what can be done with 100:1+ leverage doesn't mean you have to be a gambler
    Best to throw all this crap away in the bin. NO HEDGE AT ALL

    a Loz. I am surprised the F.S.A. in the UK have not come knocking on your door with your outrageuos claims. Here's the man claiming to make what was it $1M+ Per month ($12M+ per annuum) trading forex.........Still claiming this? Yet here you are...........:-(
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    • Dude.

      Toning down the leverage does absolutely nothing, except restricts the amount of trades you can do cos it will cost you more to open it up.

      reducing your leverage means you need to be extra patient, and also restricts the ability to hedge your trade should you go in the wrong way and counter act it with a 3rd trade to slice off the losses with the new gains.

      I also teach this to my students, how to turn a negative into a positive.

      The FSA and all the rest of the alphabet soup people can kiss my ugly rear end for all I care.

      They have no jurisdiction over me... Why?

      first off, I live in a different country and always moving around.

      Seconly, I trade offshore with offshore companies.

      And so what If I make more than a Millionaire a year, I didn't know this forum was for poor people only?

      Stop with your silly comments and snide remarks please.
  • well I see there are a lot of newbies in fx here who no idea about risk management. You beleive all the hype. You can't trade forex less than $10,000....oh screw it. Go on jump in and learn the hard way.
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    • OMG, are you serious?



      How are you learning when everything you have said is WRONG!



      Taken directly off of FXOPEN website.

      if you decided to look around you can trade with various other fx brokers for the same amount more or less.

      man, you have a good way of discrediting yourself when it comes to knowing ANYTHING about forex.

      I guess you're learning the hard way now?

      come on man, please... think before you type.
  • sloan....

    Are you serious, watch your words.... because you can.



    I'm pretty sure, that shows my lot sizes above....hmmm, it's called micro.
  • ^^^

    ....sure you can open an account with $50 I think...I know all about Micro accounts......GEEZ.

    What I was tryign to get across is you can't make any decent money until you get upto$10,000+... 4% per month of $10,000 is only $400. Ideally you need $100,000+ But newbies, like your-self, will try to make $500+ on a $500 account. Using massive leverage and going bust. It's a cert.

    SERIOUSLY........you aren't talking to a Greenhorn here. I see it all the time. People rush in believing what the liars are telling them. Basically gambling. Losing the lot...then promoting other peoples crap in order to make thier losses back. (see the FX affiliate link)


    And as for certain people pretending they make masive sums and have systems that have no losses.....CRIMINALS
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    • It's not certain.. it's certain you'll lose it if you dont know what you are doing.

      I have students who have never tried forex before in their life, opened up a live account with $100 and turned it into $300 within 2 weeks.

      Why?

      Because my approach to trading WORKS!

      Man, I've been doing this for 12 years.

      Hey, I've never pretended I've not made a loss.


      I even lost $40k just before Xmas. I should of taken the profits, but I left it open and went to Atlantic City for two weeks for xmas break.

      YouTube- Broadcast Yourself.
      But the main thing is, i kept within my money management, and I started with 10K, it's now up to $206,000 right now in 3 months.
  • Well done Sherlock......that was a superb pisece of Detective work.

  • LMC: Anyhow I thought you just secured $1M+ in venture captial? so why are you messing around with a couple of thousand $$'s in retail forex?
  • sloan,

    One, I never said I was moving a thousand dollars, I just gave it as an example for newbies to dip in and see what they can do.

    Two, I misunderstood your post, thought you were calling me a liar.

    Three, I appreciate the comments on my detective work.

    Four, Please read that information on the VC again, if you read it one more time you will see that I only get 15% of that, and you don't just receive a check, that is a process....

    Five, It's called income streams.
  • Alexa I believe you do not trade fx any longer? What was the reason for giving up? for me it was the thought of spending the next 20 years glued to the quote machine all day. It's not the life I want.
  • OK LMC no problem.....my arguement is not with you.
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  • Look it doesn't sound like you really want to trade forex. It sounds like you want to make some money. and beleive me there are much better ways to make it. If you haven't even started trading forex.........then it's best not to start. Unless your burning ambition is to trade? But it doewn't sound like it.

    One thing you are 100% right on......keep clear of all those fake CB products. Still, many on here seem happy to promote them as they pay out a decent commission. :-(

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  • Nichecowboay so what kind of leverage are you using on your trades? Can't be high with these stops in place?

    Yeah I too like end of day. It's the only way I would do it now. I think 8 hours watchng prices go up and down is a waste of a life.

    Are you concerend about overnight gaps, news events etc?

  • no it's not..really. It's the leverage you employ that is risky. If I trade on no leverage it's really quite dull. If I take the same trade with 100:1 leverage I am gambling and it can be addictive. All these robots you see gamble. They show when it comes off. Ignoring all the losing ones that will wipe you out.
  • Can't speak for anyone else, obviously, but my little forex experiment was the quickest 5 large I ever lost. A friend of mine -- a smart guy with an advanced degree in international economics -- kind of got addicted and lost 50 large, plus his house and his family.

    If you're going to do it, start small and quit if you lose all your money.
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    • I guess that's why people say "never invest with money you can't afford to lose."

      Did you make money with the dummy accounts?
  • yeah it means nothing when it comes to trading look at LTC, Nierderhoff, and who was that last scammer in investing......geez why an't I remember his name... mister 1% per month....

  • Dear Loz,

    you told everyone on this forum (and i'll dig it up if I havbe to) you make SEVEN FIGURES a month PROFIT trading forex.........now..think long and hard about this.

    Would you like to ammend your past statements a little then? Or shall I digg thast post up?

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    • What the heck you talking about mate?

      Did I say I didn't?

      Dude, please learn to read!

      I've already said to another guy here who said that I had $4k to make to break even on the $50k robot that I had developed for me.
      I told him that I was using it for other people to help them make money.
      And I already said that it has made me 8 figures over the past few years.

      I never amended any past statements, if you learn to read properly you'd understand what I said...

      And now you quote my other post about the $206,000 made in a few months from the video I posted above.

      Yes, and what is it you're getting CONFUSED with?

      That video is a LIVE $10k to $1 million challenge for my Forex Signal Mentor, where I illustrate that my strategies work. As I make the trades, they are recorded, and uploaded to the members area for people to watch.

      It's a little like the webinar I have 1-2 times a week.
  • i do not think this is possible. NFA = Futures. Forex is inta bank trading nothing to do with futures.

    One of the biggest dangers in this bizz is your broker. They can basically do anything...and often they do. So it does need some kind of regulation. The banks do not trade through retail FX brokers...

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    • I know NFA is primarily regulating futures right now, but I have heard through the grapevine(more than a few) that NFA employees have indicated the NFA has been trying to be the regulatory authority over forex.

      Whether this will happen or not, I have no clue. Ideally, I would like to see both the CFTC and NFA oversee forex but CFTC does not have that jurisdiction as a government regulatory agency. The NFA is a private regulatory agency.

      I really do hope they do get regulation over forex, especially as you mentioned the brokers tend to be crooks. As a futures broker, I feel it on my end when prospects coming from forex have been burned by their broker before and are very skeptical to trust a trading broker in general.
  • LOL L.T.C. were a bunch of academics who pretended they had mathemetically controlled the markets until they went BOOM in I think it was 1997. Remember it? "The smartest guys in the room" It's always the same cycle. Brains think they can outsmart meotion...but it's the other way around. Always will be. Tech bubble 1999....?

    If you bought a house with 0 down in 2007 I'll bet you'd be thinking a little differently.

    RISK....keep it small.

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    • I don't have first hand experience with Forex Trading currency, I saw a lot of guys always recommending other niches to involve in than it and personally I agree to think with other niches that are easier and more promising with more certain outcome results than risking my time in such thing. I don't discourage anyone from Forex Trading and it is totally up to you though and those opinions don't reflect the possible real outcome opportunities out of it!
  • i am beginning to think this guy is a bit of dreamer....Maybe he can predict this fridays Euro lotto numbers then as it is a triple rollover £120M+ :-) no doubt he has a piece of software that can do that AND more for just $97...;-)

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    • A sense of jealously I hear there.

      Just because you're not successful at trading the forex, does that mean everyone else has to be at at the same level experienced as you?

      Stop being so naive mate.

  • Hello,

    I am series 3, series 7 and series 24 certified. I have traded spot forex for 15 years. We call Forex an exotic investment vehicle. It is VERY volatile and very possible that and many people have lost big when the market swings the other direction, hedge strategies and stop loss exit strategies help but it is a market that you won't tame easily. Yes spot forex is worth it but the risks and possibilities of rapid money lost exist also.

    Thanks
    Super Monster
  • Just a quick note. I am a member of Loz's forum and would like to add a comment. I appreciate and respect the opinions of the people who have posted here. I am totally new to forex and as such, I am not qualified to agree nor disagree with your conclusions.
    What I will say, is that so far after opening a demo account with $500, my balance has doubled.
    I could not have done this without the help of Loz and the other good people on the forum. Based on what he is teaching, the group are able (via Skype) to analyze and discuss with each other whatever currency pair we think is worth a look. We talk about which strategy to use and make a decision whether it is worth a trade or not. We are all helping each other.
    As well, Loz holds webinar meetings every few days and goes into great detail about money management, stop losses, profit levels, news events, fibs ets etc.
    Now, if this reads like I am blowing smoke up his backside you couldnt be more wrong. I am just someone who has joined his group and have found a wealth of information and help. And I am glad I did.

    Finally, yeah, I am using a demo account and will continue to do so until I feel that I am ready to go 'live'.
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    • I am a member of Forex signal mentor. I am consistantly profitable and thanks to Loz's focus on money management and only trading when a solid trade sets, when I do lose I don't lose big. Everyone will have losers but learning how to lose and staying with proper money management are what makes this a very sustainable business. I started trading live almost right away against Loz's advice and I traded during Dec. against Loz's advice and stayed at break even. I should have listened to Loz. My results in Jan. where a 44% return on my account. So far this month I am up 24%. This is being done with very little time spent on the computer and trading maybe 3 days a week. I own a business so I usually take 10 minutes at night before bed and locate possible trades. I find the strongest one as I have learned from Loz, set it, put in my stop loss and take profit levels and go to bed. I only enter very high probability trades and only 1 at a time. Many times I do nothing.

      I have to laugh at all the negative comments about Forex because I know it is not that hard to do very well at trading, if you learn from someone that does know what he is doing.

      I build ponds for a living. If you tried to go down to Home Depot and buy some parts to build your own pond it will suck. If I took you to a job site with me and showed you the right way to do it and where to buy quality materials you would be able to build a decent pond. It is the same with Forex. There is so much crap info out there that it is hard to even know where to start.

      I have spent a lot of time with internet marketing and done all right with it but I would recomend learning Forex over it to anyone. You will make more money faster and with less headaches. I was new to that when I started also and the learning curve was much steeper than learning Forex with a live person that knows what to do.

      I have no problem recomending Loz because no one that I have ever done business with online or off has over delivered like he has.
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  • Ya, definitely. Forex is what got me into trading and I KNOW I'M GOING TO GET CALLED OUT FOR THIS but it's a simple game really....All you need to do is pick up one mentor and study him....Make sure he has a live trading room and consistent profits....also, look for products on the mind game....find the best...besides Tharp(which is crazy expensive) this is the best I've ever seen..... Trader's Mind-Set Secrets It's only $150 and it includes some good trading systems too. This IS what seperates the best from the rest. Not fancy systems and not experience....mindset. Dropping 5k on a course will do no good if you're not prepared.

    It's silly to say that it would be risky....never risk more than 2% on any trade and you'll be golden.

    It's the same as anything else...IMing, Business, Cards, Trading, War...they are all the same thing....Game Theory

    Oh, and I demo traded for 3 months in plans to go live but my job fell through and I was left with no money...however, 14% is what I averaged my first 3 months with never risking more than 3%(If I felt like a trade was rock solid, I busted in for it.)...once again....people will say OH BUT REAL LIFE IS SOOO MUCH DIFFERENT. THEY AREN'T EVEN IN THE SAME LEAGUE...Ya, that's why I spent 2 months studying mindset...DUH! The transition is nothing if you do it correctly.
  • Way too risky for me, I barely have a clue what is going on in the demos lol
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    • I gave up reading this thread half way through, but in regards to the ORIGINAL question, I thought I'd drop in my 2c worth...

      Please note that all of the below is my personal opinion, borne out of quite a few years of trying to make money from trading.

      Trading is NOT difficult, but it is HARD. You will learn the basics and even a lot of the more advanced stuff pretty quickly. The lingo makes it sound complicated and difficult to grasp, but it really is not.

      Why is it hard then?

      First of all, you have to have a trading plan that tells you what it is you are doing, and what are the parameters/signals that trigger a buy/sell/hold pattern. Forex is no different (technically speaking) from any other trading in that regard.

      The really hard part is sticking to the plan.

      I failed (well, I didn't fail, I just didn't get anywhere) because I did not have the correct mindset for trading. I have even trained traders, who have been doing fine with the methods I gave them, but I'll be damned if I have ever made a living using the same tactics.

      The reason is that I simply DO NOT HAVE the trader's mentality. I chicken out too fast, and enter too late...

      It takes practice, and I'm pretty convinced that it takes a certain type of personality.

      As far as money goes, you can start off with very, very little. Throw in a few hundred and play around with it. If you are successful with little money, you stand a chance of being successful with a lot of money.

      While Forex is highly leveraged, it is still possible to "practice" with small stakes. Unlike in futures, all you can lose is what you invest.

      If you are looking at ultra-short term trading, check out training here... It's cheap and its honest (despite the lousy sales page)

      Trading Guide shows beginning traders how to trade Forex!

      However, remember that the right trading plan/strategy has to be aligned with your mentality - you can't fight it, or you will lose.

      Good luck,
      Markus
  • mdiz2 + lognor8

    Complete neewbies to this forum now defending this guy.....Well it looks very suspicous

    Look I am not saying he doesn't have a good system but two facts I do not see him defending here:

    1) He told us last year he was maknig SEVEN FIGURES PROFIT A MONTH in FX......now he has a $200,000 account.....Doesn't add up.

    2) He also claimed a few months ago his new robot had NO LOSING TRADEs. A 100% winning system...

    now anyone who has even considered trading knows this is impossible.

    I'd like to see him come back and answer these queries. If I was inclined to do it I could even dig up the posts where he told this forum he making millions a month trading forex. I think it was about 15 months ago....But I'll leave it and see if he would like to comment on this.
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    • It's you that can't add up properly.

      Learn to understand the facts first. You're getting too confused here.

      [quote]

      Yeh, I had, and it was for FX Price Action robot that I have spent a long time working on. It's not the one that is being used here below to generate the hands free profits.

      The FX Price Action faced some problems during the Xmas period as I have already said twice already. Learn to read please.








      It's not impossible. Nothing is impossible until one tries it.

      It's just bloody difficult.
    • I have to pop in and talk about some shots taken at Loz.

      It's pretty simple....he knows his stuff. He is making BIG money in forex, and I am part of the FX Price Action beta testing group. That bot was working as Loz had mentioned.

      Now people are getting a little confused about some of the statements he's made. He trades on many accounts, some accounts are used in conjunction with others to help them make money, it's almost like a pool of money a bunch have people have put together. Then he has his own accounts, and his own bot. Basically he hasn't told you everything he's making, I believe he mentioned only a couple of his projects. He's even given video proof of how well he's doing (which you really didn't have to do Loz).

      The bottom line is that I've actually not seen anyone help others to make money the way he does. Some of those skype sessions for FX Price Action would go on for hours and hours on end. I can only imagine how his other skype sessions go on for. I actually remember you had a webinar that went on for 7 hours or something crazy like that! I hope that's helped people to realise Loz's credentials.

      Btw I've been meaning to join FSM Loz, I've just not got the time for it atm. Definitely will do soon. Btw let's get rollin' with FX Price Action again!

      Gee
      • [1] reply
  • My recommendation is "don't trade alone". I'm part of a mastermind group. We're on skype all day bouncing ideas off each other and basically double checking what we see.

    Most of our trading is technical. The strange thing is the fundamentals seem to follow the technicals. That's why I got out of the stock market when the DOW was over 14,000.

    The learning curve is huge. Even when you know Elliot Wave, breakouts, fibo's, etc, it is very challenging. But you can trade a demo acct. You'll probably trade a demo account for 6 months to a year.

    If you want to know about the mastermind group, send me a PM.
    • [1] reply

    • I think almost all trading should be purely technical. Most times when fundamental news is released, it has already been traded on based on speculation.

      When it is something unexpected(such as an over supply in corn from the usda report about a month or two back), that is when you will see trends shattered and locked markets.
  • When trading you need to think about the 3 most important aspects to your future success.
    1/ Learning Curve - How long is it going to take you to confidently start investing your dollars into a live trading account
    2/ Risk Factor - How much are you first willing to lose. Secondly having money management rules in place doesn't mean you won't lose money just decreases the losses.
    3/ and most importantly community. Even though there is the opportunity to become involved in some specifically related forums, these people have no incentive to be committed to your future success.

    All in all online trading can be very lucrative if you firstly have the time to invest into the training, and secondly have a decent amount of capital to invest upfront.

    The home business industry capitalizes on these 3 areas of concern listed above and therefore attract many people because of the benefits.
  • leave it. I'l let it be and others to decide
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  • Thanks, for the question and thanks to the many like whoisbenjamin for the reply.

    This is a prime example of why this forum is so valuable. So those that have flown through this pass can inform others through their own experience the good and bad of certain income producing techniques.

    Thanks to everyone who participated here. Good information.
  • Personally, I find people that play the money markets, forex people and the departments in banks that do the same, highly objectionable.

    What value do these give society?

    Making money whilst others go broke and vice versa etc.

    Usually the average guy suffers, or a country suffers, all due to someone causing a run on a currency somewhere or other.

    Round them all up, put them in a field and bomb the b'stards.

    At least people who sell burgers or clean the streets do something useful.

    If this offends anyone here who does this, then tough.

    Do something at least a little worthwhile instead...

    Complain if you want to, but this is true from my perspective.

    Sam
    • [1] reply
    • Say what?

      Do you play the lottery?

      Do you buy scratch cards?

      Have you been to the casino?

      Have you played Bingo?

      It's no different, there will always be a loser who pays the winner. That's what those type of industries are built on.

      Hang on a minute.

      Bomb the *******s?

      Who put those stupid people in power in the first place, who voted for Obama, George bush, etc, etc, etc.

      If you want to blame anyone about how the economy is in, start looking closer to home. Personally I don't vote, I don't believe in it.

      But yes, you're right, usually there is no common ground for the smaller guy to touch base and hope to climb where the bigger guys are.

      Such is life and life is what you make it.. .every individual has the mind to do as they wish... if they lost money in an investment, it was their decision, not yours.

      If they lost money at a casino, it's their fault.

      If they don't want to better themselves to get a better job, it's their fault.


      And trading is a worth while occupation. Just as Internet Marketing - helping people learn new skills, etc, granted some are crap out there and over do their sales pages with nothing but crap and lies.

      But there's some good stuff out there, one jsut has to wade through all the crap to find the gold.
      • [1] reply
  • so you are still telling us you make SEVEN figures+ profit in forex EVERY MONTH trading and your method is 100% correct. NEVER has losing trades? Yes or NO?
    • [1] reply
    • man, what is it you have problem understanding?

      I never said it never made a loss. go take a look at the images i posted the other day, that's the EA I use that has already generated 8 figures a year, and it's being used to help others out.

      I did NOT say that FX PRICE ACTION the one that did not make a loss for several months, which you're mixing things up with and don't come out with a load of nonsense saying it wasn't the one I was referring to. I know what I was talking about, it's you that don't understand, as much as you understand the forex markets - which is not a lot, hence your confusion..
      now go back under your rock, the sun has not come out yet.

  • BULL

    you told me you made 7 figures+ per month and your robot was never wrong...

    • [1] reply
    • Not at all.

      I've already explained to you twice and I'm not going to explain it to you again and waste my time

  • Beware when someone told you forex market is predictable. It is only semi-predictable.
    If forex market is predictable then there is no forex market.
    • [1] reply
    • no, you're looking at it from the wrong angle.

      not everyone knows how to predict the forex market - hence why 95% traders lose. If they did, then yes, there would be no forex market.

      Those who trade stocks on wall street or other big companies are "trained" to predict the markets based on solid technical analysis...

      Take the ichimoku kinko hyo indicator for instance. It's a VERY powerful tool that was put into testing for 20 years before it went to the public and its main use was to spy on the Japanese stocks.

      It accurately pin-points when and how far the pair / stock will fall to.

  • Just remember that only 3% of forex traders make money. To be in the top 3% "consistantly" will take time . discipline , knowledge. Make sure you have a solid trading plan with precise entry exist and management strategies.
    It is tough but if you put in the work you can succeed as a forex trader
    • [1] reply
    • It does work, but there are easier, safer and more consistent ways of making money
  • Hi Loz, this all makes very interesting reading, a very heated debated which always makes it even juicier to read.

    I do have one question and please dont take the wrong way. However, if you do so well out of trading, why sell your products and strategies? If I were in your position I don't think I would have the energy or the need.

    Cheers
    STeve

    PS. Just signed up for your news letter.
    • [1] reply
    • What can I say, I like helping people.

      Just cos I got money, don't mean I can sit here on my tod all day counting it.

      I get a kick out of helping others out, been helping others in all sorts of areas;

      ppc, seo, forex, web design, graphic design (software usages), hyips (how to make money in MLM, ponzi's, etc), all sorts of stuff.

      lots of fun, give it a try
      Even more fun when you get students like mine who are in forex signal mentor - being new et al to the industry, hitting 200-800 pips a week in their first few weeks learning this stuff, with hardly any effort is very rewarding.

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  • This is a great thread!
    I run a live forex trading room (I'm not the trader, but admin) and I go on these forums to find marketing opportunities.

    But anyhow, a few people hit the nail on the head! BE A PRO, WATCH A PRO, but don't think you can trade like a pro without some type of advantage!

    Cheers.
  • I've been trading FOREX for a couple years, mostly developing and using automated trading systems on MQLII for the platform Metatrader 4. I got some successes, earning the Interbank FX monthly contests a few times back in 2005 & 2006 for a couple thousand bucks... But that's a really risky business, you can make good money one day and lose your shirt the next day. To be successful on the long run there are 2 words you need to remember at all times: MONEY MANAGEMENT! Greed is your main ennemy...
    • [1] reply
    • you forgot the main element, you can do all the money management you want, it's not going to make you money.

      PATIENCE is the key element to successful trading, without it, you're doomed to fail... I found that around 75-80% of my students didn't have the patience, but after I showed them my strategies and prove to them that they work via the webinar I do, it changed their initial outlook on things and now, they're killing it. One guy I was talking today, turned his 1k account into 3k in about a month; on a total of 100 or so trades.

  • I've dabbled in forex,
    it will always be an active market.

    its just not for me.
  • I was very close to getting into that myself a couple year ago and then I realized how much money I could lose. I am very glad I stayed back, IM takes care of my much better.
  • The only time I ever hear anything good about Forex is from people promoting some forex product.
    • [1] reply
  • Is Forex trading really worth it? Sure.

    Is it something you just causally try and see if it's right for you? No.

    Think of it as a skill/knowledge that requires years of education. You don't just put in the years of education only to say "eh, not for me" however you also don't jump in with no education expecting to be the next guru millionaire.

    It's something that will require a lot of focus and investigation to make a proper educated decision. It may be right for you, but not for others (and vise-versa).

    But if anything... please don't think of it as "the flavor of the month"
  • Pls why wouldnt you purchase a clickbank product? and this is a nice post i can now read it and know whats up,cos as for me and planning venturing into forex trading i have already paid an online school to learn the trade so warriors can now read and know ur views about forex,thanks for all the post.
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  • The Forex market is dominated by around 20 huge international banks, who employ seasoned, experienced traders to trade on their behalf with millions of dollars to risk on each trade. They can and do manipulate prices on various currency pairings at various times for their own benefit.

    It's a zero sum market, where if someone wins it's only because someone else has lost.

    The experienced traders working for the big banks make, on average, around 30 per cent profit a year. This is a handsome return, translating into billions of dollars, but it's nowhere near the levels promised by sellers of Forex robots, software, courses, etc. And this profit is made from the thousands of newbies coming into the market all the time armed with their robots, systems, and so on.

    The only safe way to make any money in Forex is to sell the products to the people who want to buy them.
  • Yes, it's possible to be constantly profitable on Forex.
    And of course don't believe in clickbank 97$ or 147$ money machines.
    None experienced trader will not sell his trading method that helps him to earn real money. Think about why it is necessary?
    Another thing is trading signals. You will not get system and algorithm, but you will get clear recommendations, this is not hard but may be a good additional income for trader.
    But of course I'm talking about services with performance proof, statements or better 3-rd party verification as mt4stats.com for example.
    Best regards.
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    Is Forex Trading Really Worth It?

    I've been really interested in getting into Forex Trading.. I've seen products for currency trading all over clickbank although I probably wouldnt purchase a clickbank product. So I guess I'm wondering is, are any of you Warriors having luck with currency trading? The learning curve seems pretty steep.. Is it really or am I just a bit intimidated?