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Honest truth about forex.....

rob559
Nov 01 2016 at 15:03
1916 posts
Edward16 posted:
The honest truth about Forex is that there are a lot of scammers in the brokerage industry. Getting influenced by the incorrect advertisements and promotions which states that it is easy to make profits in the forex markets. People who don’t understand it are usually taken up by these advertisements and incur losses. However, reality is different. You would need to ignore such influences present in the market and focus on ECN or STP brokers.


touche,you get it

vontogr (togr)
Nov 02 2016 at 07:45
4862 posts
rob559 posted:
Edward16 posted:
The honest truth about Forex is that there are a lot of scammers in the brokerage industry. Getting influenced by the incorrect advertisements and promotions which states that it is easy to make profits in the forex markets. People who don’t understand it are usually taken up by these advertisements and incur losses. However, reality is different. You would need to ignore such influences present in the market and focus on ECN or STP brokers.


touche,you get it


It is always good to read FPA to get brokers overview.

montreal
Nov 02 2016 at 12:56
12 posts
Edward16 posted:
The honest truth about Forex is that there are a lot of scammers in the brokerage industry. Getting influenced by the incorrect advertisements and promotions which states that it is easy to make profits in the forex markets. People who don’t understand it are usually taken up by these advertisements and incur losses. However, reality is different. You would need to ignore such influences present in the market and focus on ECN or STP brokers.

i think he had some bad experiences. but i go with him :)

Clive (CliveCampbell)
Nov 03 2016 at 15:29
47 posts
You can't just simply blame the whole industry because, you got burned in every aspect you have the good sides and the bad sides, I understand that some of you might got 'scammed', but this is most likely because you didn't do you homework. Not trying to be mean, just being honest. Think about it - how can some traders can find good brokers , trade with them and have profit ? Simple - homework done perfectly = good results

kieran (snapdragon1970)
Nov 03 2016 at 16:36
1945 posts
When you start making money ,that's when they start playing games , every broker is great at the start to get you on board.
The broker I use has been pretty good I can say,it might not be the most sophisticated platform , but I can make money on it.

"They mistook leverage with genius".
Edward16
Nov 07 2016 at 11:01
10 posts
CliveCampbell posted:
You can't just simply blame the whole industry because, you got burned in every aspect you have the good sides and the bad sides, I understand that some of you might got 'scammed', but this is most likely because you didn't do you homework. Not trying to be mean, just being honest. Think about it - how can some traders can find good brokers , trade with them and have profit ? Simple - homework done perfectly = good results


You are right ! But I did not blame the whole industry. I just claimed that there are some scammers that exist in the industry. Every trader looks for the best broker but sometimes there are real influences which can drive your profits into losses.

prakash (prakash104)
Nov 07 2016 at 15:45
21 posts
rstaton1430 posted:
Study study study....Practice practice practice...Unless your iverson



According to me, if any one not able to control their mind of removing stop loss or extending it and taking too much risks in the market must never consider this business.This is only for tough minded people and not for those who cannot follow their trading plan.

"Slow and steady wins the race"
rob559
Nov 07 2016 at 15:46
1916 posts
snapdragon1970 posted:
When you start making money ,that's when they start playing games , every broker is great at the start to get you on board.
The broker I use has been pretty good I can say,it might not be the most sophisticated platform , but I can make money on it.


what broker are you talking about?

rob559
Nov 07 2016 at 15:47
1916 posts
i meant kieran,what broker are you talking about?

Clive (CliveCampbell)
Nov 08 2016 at 12:28
47 posts
Edward16 posted:
CliveCampbell posted:
You can't just simply blame the whole industry because, you got burned in every aspect you have the good sides and the bad sides, I understand that some of you might got 'scammed', but this is most likely because you didn't do you homework. Not trying to be mean, just being honest. Think about it - how can some traders can find good brokers , trade with them and have profit ? Simple - homework done perfectly = good results


You are right ! But I did not blame the whole industry. I just claimed that there are some scammers that exist in the industry. Every trader looks for the best broker but sometimes there are real influences which can drive your profits into losses.


Yes, I see what you mean. After all it all a matter of trust - who do you trust to invest your money with. Some traders can rely only on marketing messages as you said and then they got trapped because they didn't research enough. The scam brokers always find excuses for their manipulations which irritates me quite much...

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