Forex; Scam Or Real?

[graySEO]

Yea, You read that topic right.
I wanna know about your feeling with regards to forex. Is it real or a scam.
I started learning forex and everything was great with demos but once i switched to real account, everything feels different. Tried a million strategies sold by people, all do not seem to work. Learnt my Technical analysis well, used my support and resistance, trendlines, candlestick patterns etc; then again, it works for a few days and ceases to work for the rest of the time. When you ask about this, you hear them say, the market cannot always be in your favour.
Trust me, it's not about the emotions or risk management cos i really do have that contained. I am very confused because i have blown over five accounts right now and i am so depressed.

I have gotten back to trying everything on demo and they seem to work perfectly all over again, same thing i did that blew my real accounts. Seems the losses on a demo account are more minimal compared to the real one.
I need a honest opinion on this guys.

 

[AngelSeo]

Yea, You read that topic right.
I wanna know about your feeling with regards to forex. Is it real or a scam.
I started learning forex and everything was great with demos but once i switched to real account, everything feels different. Tried a million strategies sold by people, all do not seem to work. Learnt my Technical analysis well, used my support and resistance, trendlines, candlestick patterns etc; then again, it works for a few days and ceases to work for the rest of the time. When you ask about this, you hear them say, the market cannot always be in your favour.
Trust me, it's not about the emotions or risk management cos i really do have that contained. I am very confused because i have blown over five accounts right now and i am so depressed.

I have gotten back to trying everything on demo and they seem to work perfectly all over again, same thing i did that blew my real accounts. Seems the losses on a demo account are more minimal compared to the real one.
I need a honest opinion on this guys.

In poker about 10% of the players do not lose money (note - they are not winning players, just do not lose money), in Forex? Around 3% of the people doesnt lose money in the long term. So while I cannot say if is real or scam.. the chances are that you will lose money. Stay the fuck away.

 

[Hoco]

Forex is certainly not a scam. Although it is grossly mis-informed and most of the courses online are just re-hashed information which is worthless... Trust me. This is obvious as night and day by the way EVERYONE online teaches an Engulfing pattern. That's just one candlestick pattern out of over 40+ that most educators get wrong.

I can discount the fact that it's the demo and live account as a difference, here are a few questions for you:

• What time frame are you using?
• How many trades on a demo account did you make before you thought about going to a live account?
• How much "trading capital" did you start with on the demo account?
• Can you give me a ballpark figure of how much you deposited each time?
• Do you follow the markets data points? (Boring I know).

 

[942-1]

This is just my opinion but I feel it's not good for an ordinary person.

That's because the finance industry has access to the most powerful and sophisticated of AI technologies. The Trillions of dollars in daily movement for the most part is completely automated. The fintech enterprise grade technology sifts through tons of data (that would take even a fairly bright individual days or even weeks to sift through) and execute orders in mere seconds, automatically. Retail investors have a very basic interface even with the most premium plans, that often isn't even a real-time analysis.

And let's not forget trading is being overseen by leading experts in banking, economics and security analysts and the private networks they have with each other.
Whether there is outright collusion at times is debatable (in a market with nearly $2 quadrillion - would it make sense?), but as far as scams go, the only one I see, all this being said is the way that the forex markets are often wrapped up as the slickest and most stylish of get rich quick schemes, as if there are no real barriers to entry to someone setting up a panel on their iphones. Heck their might not be in the strictest definition, but turnoving over a profit? That's a different story altogether.
No matter how sophisticated you panel is, it won't deduce any aritficial manipulation of rates, so how misleading any "positive" signals become, at this point will be any one's guess.

I feel you have to get to a position as an institutional level before you real chance of even beginning to understand how forex actually works in a manner that generates any profit.

If you wish to play about with bits of money, just for fun or whatever, then make sure your brokers are regulated by your countries financial authoritiy and use a guaranteed stop loss, no matter what. Otherwise stay well away imo.

 

[Naroha]

It is not scam but as stated before only a small percentage really making profit over longer time peroid. Also keep in mind that most traders win like 50-55% of the trades, were 55% is already reeeaally good. You will be sure that your win margin always is bigger than your loss, that is key. I mean i dont know your strategies, just see many ppl tend to think that "real" traders are only winning all the time.
Everything stated above is for people who do this as a full-time job for longer peroid, not some gurus trying to sell courses.

 

[BrandingCat]

All demos on money niche works perfect in your favour. When it comes to reality it's the other way round.

 

[kumars64]

All demos on money niche works perfect in your favour. When it comes to reality it's the other way round.

I agree with this.

 

[graySEO]

In poker about 10% of the players do not lose money (note - they are not winning players, just do not lose money), in Forex? Around 3% of the people doesnt lose money in the long term. So while I cannot say if is real or scam.. the chances are that you will lose money. Stay the fuck away.

Right. It is quite sad i found out the wrong way after trusting way too much.

Forex is certainly not a scam. Although it is grossly mis-informed and most of the courses online are just re-hashed information which is worthless... Trust me. This is obvious as night and day by the way EVERYONE online teaches an Engulfing pattern. That's just one candlestick pattern out of over 40+ that most educators get wrong.

I can discount the fact that it's the demo and live account as a difference, here are a few questions for you:

• What time frame are you using?
• How many trades on a demo account did you make before you thought about going to a live account?
• How much "trading capital" did you start with on the demo account?
• Can you give me a ballpark figure of how much you deposited each time?
• Do you follow the markets data points? (Boring I know).

Time frame: I use m15 time frame to trade. i also make confirmations on H1, H4 and D1 to know the trend, support and resistance and find my entry point with M5.
How many trades on demo?: I traded with demo for more than two months
Trading capital on demo was 3000. i personally burned it down to 500 dollars so i can use the right leverage and risk management. I still grew that 500 dollar account to 4900 using the lowest of lot sizes for the commodities i was trading( v75, crash, boom, ger30)
How much i deposited? i deposited 100 dollars for 5 times. If i had known, i would have done it all at once so all the retracements that killed my accounts wouldn't have had an excuse due to large balance on there. 100 dollars is 36,000 nira in my country. That money would have done a lot for me. Now i am back to the ground.
Market data point? What is that please?

This is just my opinion but I feel it's not good for an ordinary person.

That's because the finance industry has access to the most powerful and sophisticated of AI technologies. The Trillions of dollars in daily movement for the most part is completely automated. The fintech enterprise grade technology sifts through tons of data (that would take even a fairly bright individual days or even weeks to sift through) and execute orders in mere seconds, automatically. Retail investors have a very basic interface even with the most premium plans, that often isn't even a real-time analysis.

And let's not forget trading is being overseen by leading experts in banking, economics and security analysts and the private networks they have with each other.
Whether there is outright collusion at times is debatable (in a market with nearly $2 quadrillion - would it make sense?), but as far as scams go, the only one I see, all this being said is the way that the forex markets are often wrapped up as the slickest and most stylish of get rich quick schemes, as if there are no real barriers to entry to someone setting up a panel on their iphones. Heck their might not be in the strictest definition, but turnoving over a profit? That's a different story altogether.
No matter how sophisticated you panel is, it won't deduce any aritficial manipulation of rates, so how misleading any "positive" signals become, at this point will be any one's guess.

I feel you have to get to a position as an institutional level before you real chance of even beginning to understand how forex actually works in a manner that generates any profit.

If you wish to play about with bits of money, just for fun or whatever, then make sure your brokers are regulated by your countries financial authoritiy and use a guaranteed stop loss, no matter what. Otherwise stay well away imo.

Okay. Thanks. Stop losses are quite important. Found out quite late after i had blown my first two accounts. I will wait for the market to finish retracement before coming bank to where i predicted which will happen just as i predicted; just that it burns up the balance before it actually does sometimes. Stop losses are key.

It is not scam but as stated before only a small percentage really making profit over longer time peroid. Also keep in mind that most traders win like 50-55% of the trades, were 55% is already reeeaally good. You will be sure that your win margin always is bigger than your loss, that is key. I mean i dont know your strategies, just see many ppl tend to think that "real" traders are only winning all the time.
Everything stated above is for people who do this as a full-time job for longer peroid, not some gurus trying to sell courses.

Oh wow. I know real traders do not looses all the time. This guys online selling courses actually make a lot more from courses' sales and teaching than they do from the market.

All demos on money niche works perfect in your favour. When it comes to reality it's the other way round.

Sad Truth. really depressing. I have gone down to zero. I am broke as fuck now

 

[ServeMeRight]

it's a risky investment. could be scam to most and profitable to others...

 

[Nut-Nights]

Forex is one of the things I like to stay away from.

 

[fg43085]

Is a Forex scam or not – I say it is not.

It is not a scam because banks are trading on the Forex market. Wiki says it is exchange market where participants exchange currencies.

From the other side, Forex scammers are real and you can be scammed. But you can be scammed everywhere.

 

[jeff1985]

Forex is not a scam...people selling courses are just selling a product to generate revenue because they dont have enough liquid assets to trade to make a difference or they are not good in trading themselves.

Some traders are actually good enough but sell courses to pad their income to full time comfortable status.

 

[YujinTan]

Yea, You read that topic right.
I wanna know about your feeling with regards to forex. Is it real or a scam.
I started learning forex and everything was great with demos but once i switched to real account, everything feels different. Tried a million strategies sold by people, all do not seem to work. Learnt my Technical analysis well, used my support and resistance, trendlines, candlestick patterns etc; then again, it works for a few days and ceases to work for the rest of the time. When you ask about this, you hear them say, the market cannot always be in your favour.
Trust me, it's not about the emotions or risk management cos i really do have that contained. I am very confused because i have blown over five accounts right now and i am so depressed.

I have gotten back to trying everything on demo and they seem to work perfectly all over again, same thing i did that blew my real accounts. Seems the losses on a demo account are more minimal compared to the real one.
I need a honest opinion on this guys.

From my experience,
Forex is not scam, Even Gov investment firms, or any private corporations too invest play behind.

Come to Scam are those so call " Guru , sell u so call secret training, tips , whatever what fancy name they name it , Now the Trend is Link with MLM . Yes you so call buy " their courses " on forex so call teach u how to trade at 99 per month , on the same time you can also promote the courses sell to others for commission and here come MLM ranking which u intro , sell more the higher ranking come so do your commission and before withdraw have to fork out IBO Crap another monthly subscription.

these people will have their own telegram group blah blah weekely or even every day so call teach you how to spot the trend etc

to be honest, I used to be " stupid " I mean All those stuffs is FREE online to be honest I spotted some literally happen to buy Forex stuffs from Clickbank vendor and " Resell it as if is their own stuff "

Side Note Beware , now even some come out their OWN Broker exchange

Only go trusted establish broker exchange to trade.
Next demo and Live is literally different. Demo market is not say really so call " live " behind