How much can you make Forex Trading and how much do you risk?
how well the known systems work in Forex trading (carry trade,…) and how much do you risk applying them, and for how long?
Traditional trading of stocks on margin at 2:1 leverage is considered risky. Forex is leveraged at 100:1 and even 200:1 but few people take the time to understand this and simply focus on potential profits. All beginners focus on all the wrong things like “How much can you make?”
How much do you risk? Beginners risk their entire account and their house every time they put on a trade. How long? Minutes. A leveraged position is almost impossible to hold more than an hour by anyone less than an astute trader. Most people don’t have a clue what a trader is or does, but it takes many years to become an astute trader. There are no shortcuts. Most people think that if they work harder and learn more, they will eventually become successful at trading like they would any other conventional “job”; not true. Most very smart, hard-working people lose money trading.
Factoid: 90% of traders lose money, regardless of what they trade.
The carry trade is generally done only by institutions with millions of dollars to invest and need a place to park those millions.
Known systems? You mean that make money consistently? Myth.
Why is it important to have International System of Units?
a) it preserves the system used in England long ago.
b) it uses the smallest
c) its units are based on objects that vary in size.
d) it can be used by scientists.
D.) I would think that having one standardized International System of Units would make communication between scientists in different parts of the world more efficient and less confusing. If scientists in one country work with one system of measurement and they try to collaborate with scientists in another country who use a different system of measurement, a lot of time would be wasted as the scientists tried to convert one system into the other and back again, AND the possibility of misunderstanding and mistakes due to the differing units of measurement would make international collaboration all but impossible. People who wish to work together really must have a common way of communicating so that they can understand each other and be better able to cooperate efficiently for a successful resolution of their common problems or projects.
It also pertains to other professions besides science. Having a single International System of Measurement would also make commerce and trade much easier.
How the forex trading (iFOREX) is reliable and how much can some1 earn from it ?
I have been contacted by an account manager of forex trading company iForex and I was suggested that if would join their team I can earn around $1000 per month.
Can someone please guide how these sites are reliable and what about the FOREX trading business and how this compnay (iFOREX) is also relaible if anybody knows it personaly or earning anything from it.
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.
Forex is what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap . Com/q2347.” The “q2347” is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347” gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Do you agree not everyone is destined to be college bound and will you support trade schools with funding?
It seems the government is striving to close all trade schools by cutting back on their funding but not everyone wants to attend colleges, they just want to learn a trade and get to work. In today’s economy, I would think the government would be more focused on getting people employed. Trade schools provide the knowledge of a profession which makes them employable in many different fields which are vital to everyone.
Absolutely- though I don’t know about the cutting back on funding part. Here in Ohio there is a very strong vocational education system for juniors and seniors in high school in many districts. It is very successful and well-regarded by students and communities. I’d definitely support more funding for this and for other alternate job training programs while increasing admission requirements for college entrance, at least for public funding of college attendance, to include ending admission for students who need “remedial” work. These students can either choose an alternate path or do the remedial work on their own dime (they already had 12 years of paid schooling to learn it) before applying to college. That’s one thing the Europeans have right. They provide a lot of assistance for higher ed but it is much more difficult to get in. They have also historically done much better at job training. How many students start college and never finish- wasting public funds and racking up their own debt in the meantime? A lot.
Any recommendations on day trading the Euro?
I trade Euro currency futures (6e) and forex (EUR) and am looking for a trading room or system to follow.
Both have interesting approaches to trading Futures. They don’t stick to any one contract. As you would expect… ES, EMD, YM, YG, YI & E7 etc are done a lot.
Saying you’re looking for a “system to follow” tells me you’re on your way to lose some money. The successful traders only follow the systems they developed themselves. It took me several years to realize that myself.
Those are the three categories that lead to day trading success. They are listed in order of importance.
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