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I Feel Welcome

Discussion in 'Hello and Welcome' started by husaini, Dec 6, 2007.

  1. husaini

    husaini Recruit

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    For the past three weeks I have been browsing the net to learn about forex but most of what I red sort of frightened me because of extra ordinary promise of gains. But I feel at home and okay.

    Thanks
    Husaini
     
  2. Pharaoh

    Pharaoh Colonel

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    Oct 3, 2007
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    Anyone can have a good day trading. It's long-term, sustainable profitability that should be your goal. Most of those claiming spectacular returns just took a great day (or week or month) and expanded it to a year.

    For example: I just finished a losing week, but I made 4.75% return today. Without even compounding that, it would be 23.5% per week (4.75% * 5), 95% per month (23.5% * 4), 1140% per year (95% * 12). Sadly, I don't make 4.75% per day every day and do have losing days, yet I could easily claim that my annual rate of return is well over 1000% based on "most recent performance."
    :D

    I'll give you a simple formula - look at the claimed rate of return. The chances of someone trying to sell you a scam are directly proportional to the rate claimed. If they only talk about how much money that was made with no references to % gains, then there's a 99.99% chance that it's a scam.

    It is possible to get solid returns on forex well above many other investments. Sadly, there are plenty of scam artists out there who have found out that selling "foolproof systems" will make them money far more quickly and easily than carefully and thoroughly learning to actually trade forex profitably.

    Welcome to the FPA. Our main mission is to try to change the forex world so that honest traders can deal with honest brokers and honest product vendors and then everyone can make money based on their own skills.
     

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