Who wants to learn FOREX with me? Less risk with much more leverage.

[matthalifax]

Okay so I've been looking into FOREX and I'm learning about it and was wondering if anybody would like to come on board with me.

The great thing about FOREX is you don't need much money to have a lot of leverage. Say you had 500 dollars in gold with 1:10 leverage, your getting to control 10,000 dollars. Yes you risk losing the 500 dollars but at least your not having to put up 10 grand. In some forex trading accounts you can invest as little as 1 dollar. So I think it's perfect for folks who have small amounts of money who want to benefit from the rising gold prices.

Anyway for anybody who wants to join me I suggest they start here http://www.golearnforex.net/forex101/intro.html

I've just read the intro and seems to explain it well, I'm just as green as you are with forex so lets discover this together! I'll be the guinea pig and put my money in first and tell you how it goes next week.

 

[Jeremy]

you first

 

[smartguy911]

I have read great reviews on fapturbo - http://www.fapturbo.com/

its automated, you just set it and make $$...hahaah

 

[Josh_LA]

I do have a friend who's doing it for a living. He never tells me how good he does, but he never brags about for sure.

Still, you first.

 

[sidster]

So, you wanna make some bucks via Forex trading. Before you read further, let us warn you that 7 out of 10 traders keep losing money in Forex market; while the rest of the 30% work freely at home and earn millions annually.

What makes the difference is that the top 30% are either those with insider news, or those with skills and knowledge.​

I'd say if that is the intro FOREX 101, and you still want to
do it you are a fool.

That's like a sign on a pair of stripped wires saying most
of the time they are live. Touch at your own risk. If you
don't get fried you win $10

 

[Cowlesy]

http://www.jmtgbrokerage.com/

have fun

 

[matthalifax]

LOL it's pretty crazy but look if there's one time to do FOREX it's now because of the opportunities in gold and silver.

 

[Josh_LA]

LOL it's pretty crazy but look if there's one time to do FOREX it's now because of the opportunities in gold and silver.

my honest advice, if you don't know what you're doing, don't know you're risk tolerance, I'd much rather hear you talk about how appreciative you are about 5%.

a lot of people get too greedy too fast, and gamble it all away. Luckily you have lots of money so it won't happen as easily. Just be careful.

 

[matthalifax]

yeah I know, the amount of money i'm risking in forex is so insignficant compared to my physical gold its ridicilous. Less than 2 percent of my wealth but because of leverage the possibility of gaining a bit of money is still there. One of the biggest advantages in forex leverage is you can never lose more money than is your account. While in stocks you can go into debt when using margin loans.

 

[Josh_LA]

yeah I know, the amount of money i'm risking in forex is so insignficant compared to my physical gold its ridicilous. Less than 2 percent of my wealth but because of leverage the possibility of gaining a bit of money is still there. One of the biggest advantages in forex leverage is you can never lose more money than is your account. While in stocks you can go into debt when using margin loans.

cool. brag to us soon

 

[matthalifax]

i'll let you know, i've been getting some great contacts with people who know forex well. I think this is going to be a good year for us austrians:]

 

[Cowlesy]

yeah I know, the amount of money i'm risking in forex is so insignficant compared to my physical gold its ridicilous. Less than 2 percent of my wealth but because of leverage the possibility of gaining a bit of money is still there. One of the biggest advantages in forex leverage is you can never lose more money than is your account. While in stocks you can go into debt when using margin loans.

False.

If you take out a leveraged bet on a foreign currency transaction you can certainly lose far more than is in your account if a swing goes the wrong way.

 

[matthalifax]

cowlesy you obviously don't know much about forex, go to http://www.forex.com/forex_understanding_margin.html

I quote "FOREX.com: No debit balances, no margin calls

At FOREX.com, your risk is only limited to funds on deposit. There are no margin calls in forex trading, so if your account falls below required levels, for your protection we will close out all positions automatically. You'll never lose more money than you have in your account. "

most forex traders offer that I haven't heard of one that doesn't

 

[Josh_LA]

i'll let you know, i've been getting some great contacts with people who know forex well. I think this is going to be a good year for us austrians:]

Forex is Austrian?? I would think it's closer to hedge fund and money manipulation.

 

[matthalifax]

forex is used by many austrians, it's simply an exchange to buy and sell currencies short and long as well as gold and silver with amazing leverage. It's the biggest market in the world. It's also a lot safer than then normal stock market with leverage as I said before you can never lose more money than whats in your account. It's a market that never closes 24 hours a day, 6 days a week so you can respond straight away to global events with a click of a button. Hardly any transaction costs by the far the cheapest way to invest. Very tight spreads. You should look into it. You can invest as little as US$1 dollar. Anyone who doesn't put a little bit of money in forex with the information they know as an austrian is crazy in my opinion.

 

[misericordia]

Didn't Iceland go tits up doing the carry trade on forex with the yen? That pesky inversion can be swift and brutal. These are dangerous times matt.

 

[matthalifax]

yeah but obviously they put in a lot of money. I would suggets say 1 percent of your savings or less with some leverage in there

 

[matthalifax]

so say you have 100,000 dollars in savings. 500 to 1000 dollars in there leveraged up on silver would be a good idea. Worst case scenario you lose it

 

[the count]

Forget it and save your money!!!!

Okay so I've been looking into FOREX and I'm learning about it and was wondering if anybody would like to come on board with me.

The great thing about FOREX is you don't need much money to have a lot of leverage. Say you had 500 dollars in gold with 1:10 leverage, your getting to control 10,000 dollars. Yes you risk losing the 500 dollars but at least your not having to put up 10 grand. In some forex trading accounts you can invest as little as 1 dollar. So I think it's perfect for folks who have small amounts of money who want to benefit from the rising gold prices.

Anyway for anybody who wants to join me I suggest they start here http://www.golearnforex.net/forex101/intro.html

I've just read the intro and seems to explain it well, I'm just as green as you are with forex so lets discover this together! I'll be the guinea pig and put my money in first and tell you how it goes next week.

Take this advice from me, who has spent 15 years at a hedge fund. Trading currencies is about the most difficult thing there is. It's like wanting to climb the Mount Everest when all you have done so far is go for walks in the park or maybe some hiking in a national park.

You are competing with banks that have their best traders sitting at the forex desks. And another big thing going against you: Many FX brokerages are broker/dealers! They do NOT easily let people get away with making money at their expense. This pertains mainly to guys who are scalpers/short term day traders, etc. The will and do manipulate spreads when necessary to make sure you dont have an edge...

 

[Mordan]

The great thing about FOREX is you don't need much money to have a lot of leverage. Say you had 500 dollars in gold with 1:10 leverage, your getting to control 10,000 dollars. Yes you risk losing the 500 dollars but at least your not having to put up 10 grand. In some forex trading accounts you can invest as little as 1 dollar. So I think it's perfect for folks who have small amounts of money who want to benefit from the rising gold prices.

there is not much you can do but practice with a practice account. don't worry Gold won't go over 1000 over night.

in your example, volatility kills you. take highest leverage and trade very small to survive volatility spikes