Too good to be true? Forex

[siccmadeinc]

Flash Movie

For Forex Trading... has anyone tried it?

[richie]

Its damn risky one of my friend had tried it ,but i haven't
you need to do a lot of study for that but yet no gain but particularly i feel its not at all worth the effort , you just can't guess which currency is going up and which comming down .There are many issues that leads to currency fluctuation ,hope any other brings more light to this one

[James_Chen]

I tried it a couple of months ago. IMO, it's a gamble. And it costs a lot of time. I lost several hundred dollars and gave up.

If you want to try it, don't be too serious, take it as a mental game, things could be better. Any way, i lost the game, but maybe i will play it again in future

[coollikeme]

forex is not a get rich quick scheme. If you want To make money at anything you have to do our research. I lost money my first year, because i did not do my research first. Now I have a system and i am making money. There are no get rich quick scheme if you study hard and enjoy what you do everything will work out. good luck in what ever you do.

[copla]

One of my favorite quotes about trading is from New Market Wizards:

"For novices to come in and try to generate profit in this incredibly complex industry is like me trying to do brain surgery on weekends to pick-up a little extra cash."

[Richard_Todd]

Originally Posted by siccmadeinc

Flash Movie

For Forex Trading... has anyone tried it?

They have a free trial, so of course you can try it out, but aren't you suspicious about slick marketing videos telling you how easy it is to trade?

I watched the video, and three key questions would be:
1) why should we assume that the price will correct itself back to the original buy price?
2) what if it doesn't?
3) if we assume it does correct, why even put on the initial position (which, after all, always breaks even)? Why not just buy and sell the tops and bottoms?

I suppose their answer to number 3 would have to do with magically locking in any interest rate you choose. I guarantee you won't be too excited about your "locked in" 10% interest when your principle has dropped 50%, though...

I think most traders out there would be suspicious of any trading plan that tells you to add to losing trades, on the assumption that you will eventually break even.

[copla]

Oh god, I hadn't watched the video... christ. Anyone worth listening to about the market will start out by telling you that it'll take hard, long work to become consistently profitable- anyone who says that it's easy is full of ************, and more likely than not making money off selling their "system" to suckers than implementing said system. Also, when they use the big jumble of words to make it look complicated, anyone with even a basic grounding in technical analysis should be able to explain every one of those phrases. Plus, it's obviously a scam as the presentation was built from a template, they even forgot to replace "Your Name Here" with their name.