Hi - Newbie trader +500 - easy forex - UFX

[pastajoy]

Hi all,
I have just come across this site after looking into some scams, ive been small time trading for around 2 months now and am looking to learn. The main problem I find at the moment is knowing who to trust.
A brief history of my trading,
I started with plus 500 just playing around with the deposit and not paying much attention to what was happening in the world other than reading the charts. I was upto around £370 from the initial £20 bonus but due to my inexperience ended up loosing the lot

I then decided I needed more info / help / advice and put my trust in a company called easy forex.
I invested £400 of my own money. Using there indicators and signals I thought i might be onto a winner. Over around a month of trading daily using I found it a lot more difficult to make profit than in my previous experience with plus 500 and a lot easier to loose money. Im no expert and find it very hard to show any real evidence but something just didnt feel right, I was constantly looking at the change in profit especially on some volatile trades and it did not look right to me.

Despondent from my losses and maybe my paranoia??

I had looked at some other companies and opened a "free account" with UFX, after a hour on the phone to one of there managers I left the call even more confused and paranoid. The amount of time they spent talking about the amount of money I could have made in obvious historical trades (shorting oil at $100 a barrel, I wish) and pushing the issue of using higher margins to make more money, it seem very apparent that the call was just to take my deposit and offered "education" (only on deposit) Also reading between the lines there was an opportunity not to be missed and could I afford to miss out?
They must have thought they had one with me but I refused to make any deposit a left the call and will not deal with them after reading some post on here.

Im happy ive found this site and I am looking forward to engaging with the community.
Any advice is very welcome.

~Thanks in advance

 

[FxMaster]

Hi all,
I have just come across this site after looking into some scams, ive been small time trading for around 2 months now and am looking to learn. The main problem I find at the moment is knowing who to trust.
A brief history of my trading,
I started with plus 500 just playing around with the deposit and not paying much attention to what was happening in the world other than reading the charts. I was upto around £370 from the initial £20 bonus but due to my inexperience ended up loosing the lot

I then decided I needed more info / help / advice and put my trust in a company called easy forex.
I invested £400 of my own money. Using there indicators and signals I thought i might be onto a winner. Over around a month of trading daily using I found it a lot more difficult to make profit than in my previous experience with plus 500 and a lot easier to loose money. Im no expert and find it very hard to show any real evidence but something just didnt feel right, I was constantly looking at the change in profit especially on some volatile trades and it did not look right to me.

Despondent from my losses and maybe my paranoia??

I had looked at some other companies and opened a "free account" with UFX, after a hour on the phone to one of there managers I left the call even more confused and paranoid. The amount of time they spent talking about the amount of money I could have made in obvious historical trades (shorting oil at $100 a barrel, I wish) and pushing the issue of using higher margins to make more money, it seem very apparent that the call was just to take my deposit and offered "education" (only on deposit) Also reading between the lines there was an opportunity not to be missed and could I afford to miss out?
They must have thought they had one with me but I refused to make any deposit a left the call and will not deal with them after reading some post on here.

Im happy ive found this site and I am looking forward to engaging with the community.
Any advice is very welcome.

~Thanks in advance

Welcome to FPA pastajoy, You need to learn more about forex and then you have to practice it on demo account. Here is the section called Complete Trading Education- Forex Military School where your learn more about Forex. Also feel free to ask any question regarding the Forex, We are more than happy to assist you.

 

[Pharaoh]

Currently, chances are that you're on a "sucker's list" being passed around by the bad brokers. Good brokers and good investments don't cold call people. If anyone calls offering you an amazing chance to make money, the only one making money is the company calling.

Study the materials and the FPA and try to overcome the desire to dive in head first. Even with a good broker, excessive enthusiasm about leaping into trades is the pathway to a margin call. You already know what happens if you make the mistake of handing your money over to a bad broker.

 

[arigoldman]

Hi and welcome

 

[pastajoy]

Thanks all, and thank you for the good advice Pharaoh, I have dropped to demo account with FXTM using the MT4 platform which I find is very good when you learn the fundamentals. No big silly mistake buttons to be had on there

 

[ElaineMDG]

Welcome pastajoy! I second (third?) Pharaoh-as a newbie myself, I signed up for ONE "FREE educational webinar" 4-5 months ago. Ever since then, I've been bombarded with emails and phone calls from brokers, supposed "Forex Gurus", and every "get rich quick" scam you could imagine in trading! I'm STILL spending at least 30min/day unsubscribing-but apparently my information is still being distributed.
A guy at the original outfit who offered the webinar, repeatedly called even after I insisted I wasn't interested. When he got nasty with me, told me I needed to either borrow from family or take out a bank loan, (he even said he'd COSIGN!!); I told him I would call police and file harassment charges against them if they called again. He got VERY nasty, threatening me & assuring me I will fail as a trader because I turned down his "exclusive deal".
This business is FILLED with scams and thieves and you've certainly come to the right place!! FPA should be some kind of requirement for newcomers! As you can see in the scams and scoundrels threads, MANY people, (even experienced traders!), have lost most or all of their hard-earned money with these crooks! I know personally, FPA has saved ME at LEAST hundreds of dollars in what would have been scams!!

 

[MulHellish]

oh those pesky marketing email campaigns.. I've received more mail than I can count! Also a newbie on forums as previously I just viewed from afar. Hopefully I can extract some good info and dodge some bullets!

 

[ElaineMDG]

oh those pesky marketing email campaigns.. I've received more mail than I can count! Also a newbie on forums as previously I just viewed from afar. Hopefully I can extract some good info and dodge some bullets!

Welcome MulHellish!! And YES, you've certainly landed in a great place for us new to this jungle!! FPA is my "safe haven" & the first place I look when researching brokers, strategies-or anything else connected w Forex trading! Their educational sections ain't too shabby either!

 

[pastajoy]

Welcome pastajoy! I second (third?) Pharaoh-as a newbie myself, I signed up for ONE "FREE educational webinar" 4-5 months ago. Ever since then, I've been bombarded with emails and phone calls from brokers, supposed "Forex Gurus", and every "get rich quick" scam you could imagine in trading! I'm STILL spending at least 30min/day unsubscribing-but apparently my information is still being distributed.
A guy at the original outfit who offered the webinar, repeatedly called even after I insisted I wasn't interested. When he got nasty with me, told me I needed to either borrow from family or take out a bank loan, (he even said he'd COSIGN!!); I told him I would call police and file harassment charges against them if they called again. He got VERY nasty, threatening me & assuring me I will fail as a trader because I turned down his "exclusive deal".
This business is FILLED with scams and thieves and you've certainly come to the right place!! FPA should be some kind of requirement for newcomers! As you can see in the scams and scoundrels threads, MANY people, (even experienced traders!), have lost most or all of their hard-earned money with these crooks! I know personally, FPA has saved ME at LEAST hundreds of dollars in what would have been scams!!

Hi Elaine,

Wow, it sounds like you have had it bad, a real parasite! I do count my self lucky as I have been doing this about 3 months now, having lost a few hundred pounds on dodgy platforms / brokers I considered it a valuable learning curve. Lucky I could see through there tactics, most of them see a beginner and see an easy target. It amazed me when the brokers seemed use your inexperience in trading to make the assumption also a person of low intelligence, there mistake.

On a positive note I did receive a call when I opened a account from a highly rated broker I found on here. This call seemed different, no pressure, he didn't want my money right away or any given future date. His advice was good for me at a time when I was beginning to give up hope.
He advised I used there platform and take advantage of the free education, which actually does exist, but also advised I train my skills using a demo account until I was confident in my own abilities. Im currently been using the MT4 platform and after watching a few short you tube vids I quickly learned how to use the software and I find it very good and solid unlike a lot of web based platforms.

In the experience I have had my bad trades I found were caused by firstly my overall inexperience, and second the mistakes I made using previous web based systems. Some of the platforms can be eye catching and look really nice, and have "unique features" that they apparently developed and claim they are the only company that do it. They use it as an illusion for there dodgy and more importantly badly performing websites. Keeping your eyes on there bull**** and away from the most important things you should be looking at for example the "spread"

If you have not already, have a look at MT4 and spend some time to learn the platform, I do believe it is used by many brokers worldwide so is a fairly generic platform, but it works amazingly and its fast.

Hope things go well for you in the future, I think you have found the right place