Is the forex market in general a scam?

[perryfx]

Hi Pharaoh

I have opened a demo account at Oanda but the practice page is not opening! It says : "the practice should begin in one or two minutes" but it never loaded! I have tried many times so far. I have allowed pop-ups from that site too but nothing worked! How can I start my Forex journey if I fail to trade using the demo first! Please help!

Hope you are referring to web-trader. What is your current web browser ? Try to log in using a different browser. Hope that will solve you matter.

 

[Red Herring]

Thanks Pharaoh

I am moving to another broker and or going to chat with Oanda.This is really hampering my start!

Regards

 

[Red Herring]

Thanks perryfx

The problem is solved. It was actually due to 'JAVA' which was not up to date. I am enjoying the demo now. But can you tell me what should I try to learn from there? Should I watch the graph to find any trend for increase or decrease! A way to start would help me a lot for sure.

Regards

 

[Pharaoh]

You need to consider what sort of trading you like to do.

If you think spending your day gaining and losing money based on your reaction speed is for you, then you need to develop a scalping system and stick to short time frame charts.

If you want to actively trade all day, but have more time, then start looking for trends, support, resistance, etc on 30 minute and 1 hour charts.

If you want to do super detailed chart analysis and need the time to do it, then 4 hour or Daily charts are a better bet for you.

 

[FringFX]

Hi Pharaoh

I have opened a demo account at Oanda but the practice page is not opening! It says : "the practice should begin in one or two minutes" but it never loaded! I have tried many times so far. I have allowed pop-ups from that site too but nothing worked! How can I start my Forex journey if I fail to trade using the demo first! Please help!

check the system requirements for that broker. Also ensure your computer's Java version is up to date, especially since there have been Java security flaws reported recently..

 

[navyseal]

Hi Pharaoh

I have opened a demo account at Oanda but the practice page is not opening! It says : "the practice should begin in one or two minutes" but it never loaded! I have tried many times so far. I have allowed pop-ups from that site too but nothing worked! How can I start my Forex journey if I fail to trade using the demo first! Please help!

You can try demo account with another broker, don't need to wait with that delay. To me, I have tried with Hotforex and their demo account would be good with instantly register.

 

[henyo]

Thanks perryfx

The problem is solved. It was actually due to 'JAVA' which was not up to date. I am enjoying the demo now. But can you tell me what should I try to learn from there? Should I watch the graph to find any trend for increase or decrease! A way to start would help me a lot for sure.

Regards

i happened to pass by and was intrigued with your conversation here, as per say any question you might have no matter how small or silly they may seem do not hesitate to ask here, there lots of good traders and experts such as pharaoh who are willing to give advice and suggestions,

I would like to add, yopu might want to go and try out some free online courses, i can suggest PIPSOLOGY (google it) its a free online course for newbies and a good one to acquire the basics and to have a genereal idea about types of trading the charts and stuff, and best of luck, and stay with demo account trading for months, dont rush with real money yet undtill you are good with a certain strategy and making a profit in a span of a couple of months..

 

[itkraze]

The forex market is a real market and it cannot be a scam but there are many players in this market nowadays who are making it a scam to newbies. Many newbies are losing money from their hand and the word scam is being used for overall market.

 

[Rambo35]

The forex market is the biggest and most liquid financial market in the world and not a scam. You may have had the unfortunate experince to trade with a bad broker, but that is not the fault of the market.

 

[alanrox]

Hello Guys,

I don't think it's a scam. But there are lots of scammers here. If you have a good knowledge about the market and participants you can trade without being a victim of scammers.