GeneralThoughts On FOREX TRADING?
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GeneralThoughts On FOREX TRADING?Posted:
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| Whats your thoughts and opinions on Foreign Exchange Market Trading ( Currencies ) and if you think its "Gambling" or too "Risky"? |
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| Very risky but if you know what you're doing then you can make a profit. Hard to get into and learnt Hough so be careful. It's like gambling, only put in what you're comfortable losing |
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The main reason I don't involve myself in foreign exchange or ETF is simply because there's way too much risk yet it's not volatile enough for me.
As far as risks one thing I hate is fees. ETF's open you up to a lot, mainly margin fees. I forgot what the actual name of it is but basically if the market fluctuates in a certain way then you pay the margin which is at the end of the day a net loss. Secondly the "market" is 24 hours so there is no closing time. If you're really into stocks then you watch them throughout your day and you know that at 5pm Eastern time you are free as nothing is changing. That is not the case in foreign exchange, you can literally lose everything while you sleep. You also have to really know what's going on in the country you're investing in. It's not a simple graph like stocks are, the country can be really stable then out of the blue plummet (look at what the US does when we declare a state of emergency). Natural disasters play a big role in that. I say it's not volatile enough for me because I don't have enough money to actually make enough money to justify doing it. To me if I invest in a stock and leave it for a few years it does me nothing as I can give my money to the bank and collect the interest. Sure I might not make as much but I'm not losing anything. Anyway, my point with that is that the stocks I do are penny stocks or what people call day trading. Basically when I'm bored I'll buy a few penny stocks, hope they increase a half of a penny and 99% of the time by the end of the day I have sold them all. It's essentially like going to the casino but having the conveniences of being in my own home. That's my take on it, if you're like me and you don't like to read long reply's then the short answer is I don't like ETF's. |
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Ive had some sketch people try and get me into it and im just not feeling it
Think its more a scam than profitable |
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Kisses wrote Ive had some sketch people try and get me into it and im just not feeling it Yeah, I see a lot of people advertise it all over instagram. To me it looks like a scam, people trying to get you to pay a upfront cost and then invest for minimal return. You are probably better off going to a looking Financial advisor and saving monthly into a investment ISA. |
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| Depends on how much research you do or if you wing it |
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