Originally Posted by Peterw
Forex is a high risk instrument.
If it suits you personality and goals and you're prepared to put the time in to learn it then it can be very lucrative.
Like everything else it has a risk/reward element which in this case is very high on both sides of the coin.
You get out what you put in
Actually it is 2 sided. In life everything is a double edge sword. The reason y forex is link to it being risky is because their position size.
1. Too big for a small capital.
2. Earn $100 per day. Provided you have a minimum capital of $10000
3. Scalp the market for a few pips but your stoploss is like 1000pips away.
4. Brokers fk up live feeds with inconsistent connection.
What about mortar and brick shop? The ROI is like like 2 to 5 years and your monthly overhead are high.
What about working for other people. Are you replaceable? You are nothing then a commodity in this globalization world where freelancer.com, fiverr.com and elance.com can easily replace you.
Toto and 4D in Singapore is a craze and its ROI is like in the hundrends thousands to one but every week people pour $50 to $100 into it.
Wall Street over publicize its rewards and risk and downfall. Overleverage is the downfall of many brokers and banks.
With the above myth do I still wanna trade forex for a living?
Hell yes if I take care of my downside my profits will take care by itself. Beside I want to take money from forex like cash from ATM and travel the world.
Right now working hard to accumulate my grubstake to at least $50 000 to quit my business and trade full time.