any FOREX traders here? - Democratic Underground

Gato Moteado

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Fri Dec-16-05 05:16 PM
Original message

any FOREX traders here?

is it really possible to make 2% a day if you're good at this?

has anyone tried it? what are your success stories?

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CountAllVotes

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Fri Dec-16-05 05:22 PM
Response to Original message

1. it might be if you have a lot of $$$$$$

I don't - I gave it a try and lost my ass to be honest w/ya.

?

:kick:

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BlueEyedSon

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Fri Dec-16-05 05:30 PM
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2. Sure, thats why everyone does it

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tom swift

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Fri Dec-16-05 05:32 PM
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3. Forex

It's absolutely possible. Just don't be wrong,not even once.

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CountAllVotes

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Fri Dec-16-05 05:33 PM
Original message

yep you got it

one wrong move and you are screwed. ugh. I know, believe me.

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deadmessengers

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Fri Dec-16-05 05:33 PM
Response to Original message

4. I've done the demos

Most online FOREX brokers have demo accounts set up, where you can try your hand without risking any real money. When I tried it, I basically broke even. Your results might be different.

One thing I have noticed lately, however, is that the USD/EUR rate has been oscillating between 1.16 and 1.20. When I was messing with FOREX, the market wasn't moving in anywhere near that predictable a pattern.

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Sgent

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Fri Dec-16-05 05:34 PM
Response to Original message

5. I'm a trader

but not a speculator -- there's a difference.

I use the forex market to lock in exchange rates for future use/business use. As for being a speculator -- the only ones who make money are the brokerage firms.

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madmark

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Fri Dec-16-05 06:36 PM
Response to Original message

6. I haven't tried Forex, but I have done partypoker and generated

a 2500% return in less than 4 hours.

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Gato Moteado

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Fri Dec-16-05 09:37 PM
Response to Reply #6

7. are you serious?

do you have to be a poker master?

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madmark

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Sat Dec-17-05 09:59 PM
Response to Reply #7

8. I am serious; the entry fee was $110, 390 players, I placed 5th,

got a little over $2,500. Im not sure what a "poker master" is. I have won some live tournaments. Some people can win these things. Apparently, a lot of people can't.

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Gato Moteado

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Sun Dec-18-05 05:38 PM
Response to Reply #8

9. poker master is a term i just made up......

.....meaning someone who plays poker like a professional.

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madmark

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Mon Dec-19-05 02:02 AM
Response to Reply #9

10. Ive more money more than some people have at there regular

jobs, but I am not a poker professional because I make most of money doing something else.

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Gato Moteado

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Tue Dec-20-05 08:39 AM
Response to Reply #10

11. well, i'm no good at poker......

.....so i wouldn't stand a chance.

but forex seems to have potential.

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robcon

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Tue Dec-20-05 09:18 AM
Response to Reply #11

12. Why do you think FOREX is a goldmine?

By definition, there are an equal number of winners and losers (except for the brokers who win either way.)

Since most foreign exchange is conducted by professionals... bankers, central bankers, speculators, traders and corporations, you don't have any better chance than anyone else - probably worse - IMO.

My son works in foreign exchange for Pepsi. He does hedging every day. You can win or lose by luck - you'll never keep up with the information flow on currencies, IMO.

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Gato Moteado

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Tue Dec-20-05 10:15 AM
Response to Reply #12

13. i dont necessarily think it's a gold mine.........

....i had heard that you can make 2% a day on your money if you know what you're doing. i was just looking for success stories here.

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