Is it really possible to make money trading on the FOREX market?
It seems too easy. You spend a few hours a week watching trends, buy, sell, and rake in huge money. It seems too good to be true. How many people are actually successful and how much time do they put in doing it?
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Oh yes, it is of course possible to make nice profits from Forex if you know what you are doing.
$4 trillion a day worth of currency changes hand daily. So, there must be profits in this business.
I don’t think few hours a week is enough. You need to read financial reports and track all the news coming about economy to do the trading.
For example, a couple of months ago, when the EURO was going down, almost every major currency (Except the USD, and the YEN which moves in the Opposite direction) was going down especially the Aussie and GBP.
But these days, this is not happending any more. The Euro is still at 1-year record low, while the Aussie and GBP are getting some push from their local economy.
There are a lot of reports that you need to read.
Better to start with books and follow some currency blogs.
Don’t get cheated by some ADs that claim they can make huge money. If you do that, you will lose all of your money in a blink. Try to find some certified online Forex firms that charge you less money for the trades.
I know that you can make money with forex. I am part of a managed forex service. Over the last four years, the average monthly returns have been 9.16%. MONTHLY RETURNS. 10,000 dollars invested 4 years ago is now worth over 240,000 dollars. Beats a deposit account every day.
I spend no time on it. It just works away while you do what you want. You get a statement in an email every time there is a trading day. You have your own bank account so your money is safe.
I only joined at the end of October 2011 but I am keeping a log of my returns. You can find out more by checking out my site below.
It depends. There is a large group of people out there making money from Forex trading but for every person that is making a huge income there is someone who is losing. I think CASS Business School did a study into people trading derivatives (Forex is most commonly traded through CFD’s) and found that about 1 in 5 people came out as winners. In order to stand a chance of making money online through trading Forex one needs to understand both the mechanism being used to trade Forex (most commonly CFD’s) and the technical and fundamental analysis used by sucessful Forex traders. The online forex market has ballooned in recent years so it is likely a large number of people are successfully trading Forex. The most successful traders will spend more than a few hours a week and many will be full time Forex traders.
Yes of course. I am making 800+ pips a month and I am very happy with the way I am able to invest and reap profits through forex trading. 95%+ of all new traders fail in the first 12 months. If you don´t have enough knowledge you will more likely loose a lot of money than know the fundamentals of forex. If you want to ask more questions from experienced forex traders, you can join forums and chats online. Every time i need to know something, I usually go to these forums and they gladly answer my questions. I can suggest you good forums that are reliable such as http://www.forexfactory.com/forum.php
http://forums.babypips.com/
http://forexforums.dailyfx.com/forum
I hope these forums will help you out. If you are interested in trading as soon as possible,
you can join a free live signal account through http://exeliafx.com. I hope this has helped you. =)
Yes, people are making money.
Now, how they are making it is a big story. How much time you invest is irrelevant. What matters is how successfully you can predict price movements. Thats all into it.
Yes, you can only if you don’t loose.
One of the top forex brokers told yesterday that they gained over 94,000 accounts in 2011 and 77% account holders lost their balance while only 23% won.
However, you can grab a coach who can teach you step by step to win.
Many people use Forex Robot to make money – http://a3354ygnv8upmxe6peviw-xp59.hop.clickbank.net/?tid=YR