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Do you believe in Forex?

Discussion in 'General Forex Talk' started by DitterPD, Aug 8, 2013.

  1. DitterPD

    DitterPD Private, 1st Class

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    A lot of whom I know and people in general, don't believe in Forex (and I must say, I am not from US).

    They think it's some kind of Madoff-Get-your-money-gambler-way-multi-level-marketing-ponzi-dirty-scheme.

    But I do believe that you can profit from it and have been trading on Forex (even though I cannot call my self a pro trader) and moreover it's a real business throughout the world.

    So my question, what about you, do you believe in Forex? Deep, deep in your heart? Honestly?
     
  2. Rambo35

    Rambo35 Corporal

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    I am not sure what there is to believe; the forex market is the biggest and most liquid financial market. It exists so I am always puzzled what there is to believe.
     
    TareqS likes this.
  3. ecg

    ecg Private

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    HELL NO...

    Forex in general is a reality ... but its not the reality that new traders are sold.

    How many traders make money? I suspect that it's a bit like the wheezy old gits at the bookies... you only ever hear about their wins ... not the losses!
     
  4. Pharaoh

    Pharaoh Colonel

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    I think some of the disbelieve stems from HYIPs and Ponzi schemes claiming to be based on forex. Anyone who's opened an account knows that there is a real chance to trade - at least if your broker bothers to pass your trades on to the real market.
     
  5. alanrox

    alanrox Corporal

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    Believe it or not... You can earn from it
     
  6. arexa

    arexa Recruit

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    Even though that I am not a real trader, I think I could say that I believe in Forex. I could read and hear that some could really make it big or become successful on it and that means it was a real thing. Just maybe need more understanding on how the trading works.
     
  7. DitterPD

    DitterPD Private, 1st Class

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    I think a lot of disbelief comes from what "ecg" mentioned as well.

    You always hear how you can make money in Forex, about wins and see dollar sign banners everywhere, but it makes a lot harder for grown up man/woman with their own experience in life, to look at this and say to themselves "Hell, that's sounds like a real opportunity to change my life!".

    Maybe we need to add a little pinch of salt in our community and come up with something what can give a deeper understanding of whole industry?

    But again, it's not up to us, forum people, to decide and market this. Another broker will come up, another advertisement with "promising profits" will popup and another spammer will send you hundreds of messages about their "100% strategy"..
     
  8. Pharaoh

    Pharaoh Colonel

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    Belief should be restricted to:

    1. There really is a forex market where one can make or lose money trading. Be aware that there are some brokers that will do whatever it takes to steal your profits and maybe even your initial deposit.
    2. Claims that are backed up by long-term, verifiable live results drawn directly from the broker, while always keeping in mind that past performance does not guarantee similar performance in the future.
    3. Anything I say. :p

    Everything else could easily be a work of fiction.
     
  9. DitterPD

    DitterPD Private, 1st Class

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    If someone will ask me again "but isn't it a scam?", I will answer "Pharaoh said that.. NO! It's real. Go and see "post link" point number 1 & 3". Solved!
     
  10. Pharaoh

    Pharaoh Colonel

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    Ask these people if they believe in the stock market. There's plenty of manipulation and scam there too. It's not as bad as forex, mostly due to better regulation, but scams still exist in dangerously large quantities.
     

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