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Forex market-Trading

Discussion in 'Members' Lounge' started by corvetteguy78, Apr 22, 2010.

  1. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    Does anyone here mess with the Forex market? I been reading up on it and have been playing with a demo account and in about 40 minutes i've made about 170 bucks profit. I am also using a demo account through my Iphoe and made $90 profit in about 15 minutes. I eager to go live and try this out but also very apprehensive at the same time. I obviously don't want to loose my savings, though i wouldn't invest it all, maybe play with $500

    I am using MetaTrader program. I see allot of Autobot programs out there that trade for you and learn market trends but im of course skeptical about those.
     
  2. UNDR8D

    UNDR8D ...has a job!

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    My friend was testing a new Forex trading program. Apparently some woman spent 10 years devising the algorithm that it runs off of.

    It was supposed to be a set-it-and-forget-it type of program but it still required constant babysitting and a lot of homework to make accurate currency pairings.

    If you have time for day trading and want to try it, I say go for it. He was averaging 30%+ when he was diligent with it but lost $1000 a day if he left it alone.

    There is no such thing as free money.
     
  3. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    what if i walked up to you and handed you $500 bucks and just walked away. :p

    Yeah i was be very skeptical of setting up one of these programs and just forgetting it.

    The Iphone app is a really nice program which would allow me to baby sit while i am at work.

    But hell if i could make 100 bucks a day for an hour extra that would be great
     
  4. Briansol

    Briansol Admins Admin VIP

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    The problem with forex is that theres really no market conditions that promote currency change rate.


    it just kinda happens at a whim, not because of good business, etc etc. it's 100% pure luck. You have better odds on the blackjack table.
     
  5. UNDR8D

    UNDR8D ...has a job!

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  6. Matts96HB

    Matts96HB . Moderator VIP

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    a buddy of mine trades daily. thats his job. he doesnt work, he just trades and goes to school. makes about $50 a day on an account with 1500 in it.

    he got me into it, im now trading about an hour a day making 20-25$. its pretty easy once you get started. short trades work best for me. it DID take a while to get the hang of it and predict movements though.
     
  7. UNDR8D

    UNDR8D ...has a job!

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    False and false. Currency follows market indicators and current events...just on a much larger scale so it is more difficult to predict, as it is the aggregate of millions of inputs.
     
  8. SlushboxTeggy

    SlushboxTeggy It's only stupid if it doesn't work VIP

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