Forex, the big disillusion

Feb 25, 2016
23
1
17
39
South Africa
Years ago, only an elite few with big equity or big financial institutions could trade.
So many traders also wanted a slice of the pie, that it was made so that anybody could trade. Brokers popped up all over and encouraged people to invest and become traders. To level the playing field, leverage was brought in.. A trader with 2k could now trade as if it was 200k.
There was so much new money. EA developers also popped up like mushrooms also wanting a slice of this 'new money' pie. Forex was heavily commercialized. EAs, training courses etc. Brokers started competing against each other, enticing newbies with all sorts of bonus offers. EA developers saw this as a great income opportunity and all they needed to do was come up with something that could just be profitable for a few months so they could achieve high sales. The return you could make from forex became so inflated with EA developers competing against each other.

A bright picture is painted for newcomers that they too can become armchair millionaires..It is so easy these adverts say.
It is marketed as such a lucrative business. BUT, keep in mind only 2% will succeed and trade profitably, the other 98% will fail and give up - I also added, 50% will become victim to scams.

The idea of becoming filthy rich by spending time behind our computer screen, has caused a lot of misery.

Beware, do a bit of research first. Don't become a victim.

Unfortunately forex has become a playground for many scammers.
 
Last edited by a moderator:

radex78

Active Trader
Nov 15, 2015
670
17
34
41
Maybe I am still grateful because assumed forex as part time business only, and not enforced to become rich from forex although actualy also having wishes to become success, but because forex is risky business, keep obey rules investing money in this business just spent money that afford to lose, don't thinking if we can rich from forex first. manage or risk from early time.
 

Lawrence

Active Trader
Aug 20, 2015
169
7
34
Maybe I am still grateful because assumed forex as part time business only, and not enforced to become rich from forex although actualy also having wishes to become success, but because forex is risky business, keep obey rules investing money in this business just spent money that afford to lose, don't thinking if we can rich from forex first. manage or risk from early time.
We should try to minimize our losses in the trading as that alone will tell us how much far we can go and what are the best trades that we have to do to earn income :)
 

radex78

Active Trader
Nov 15, 2015
670
17
34
41
Yes we need to trying to minimize the risk with learn how to determine best timing making entry point and also exit point, and of course with always pay attention with the risk management in trading which this is very useful to managed account on proper way
 

davidblack

Trader
Jun 19, 2014
77
0
17
Forex is a good business and i am full time trader . I trade 24 hours in the day with my brokers automated system and make good money.
 

radex78

Active Trader
Nov 15, 2015
670
17
34
41
Forex is a good business and i am full time trader . I trade 24 hours in the day with my brokers automated system and make good money.
Seems great result from your ea, what type ea that used in your account, I have scalping ea but never use it i my real account now and still prefer trade with manual tradng analysis, using ea I can't turn on computer for full day and hire vps required some money so manual trading for me more cheap