Internet Marketing or Forex?
- Thread starter Magicodar
- Start date
HerpDerpSlerp
Power Member
- Mar 19, 2013
- 777
- 629
Just like IM you really need to know what you are doing in Forex. You have 3 years on forex. You really want to start over? There is no easy button.
Magicodar
BANNED
- Jul 21, 2013
- 266
- 30
No. I have 3 years of experience on IM. But I have 0 experience on Forex? How long I need to learn in order to earn $ and what are the risks?
ScrapeBoss
Elite Member
- Nov 25, 2010
- 1,865
- 673
Yes, it is possible to make good money in forex every month. At the same time, it is possible to lose thousands of dollars overnight. I would suggest not going into it and abandoning other income sources, one of which is IM. Get involved in a part of everything, so that if one fails, some will make you some money
HerpDerpSlerp
Power Member
- Mar 19, 2013
- 777
- 629
I know, which is why I said you have 3 years on forex. Which means you are 3 years ahead in knowledge on another subject besides forex. Yes, you can make money in online trades. Is it easy? no, but neither is Internet Marketing. Pick something that you have more interest in, not just because you see dollars.
There is HUGE money in prostitution.....but do you have interest? get the point?
If you're earning anything off IM and it makes you happy, then i don't see a reason to stop it and jump into another unsure money making method. Things that affect your forex earnings are way out of your control and it's certainly not stable if you can't accept losing money on your way.
Does he actually make this though? Or does he have a tendency to talk shit? To make big money in forex, you tend to have to invest big money. If you invest small amounts of money, you are basically gambling.
VinceC
Elite Member
- Jun 8, 2008
- 2,119
- 948
If u have some spare money to burn, I would suggest go for it, forex. BUT, also do not give up your IM too. If u never try, your mind will always be bothering u on this issue. Give it a try, if success, congrats. If not, u still have IM as a backup. Never try, never know.
Scritty
Elite Member
- May 1, 2010
- 3,019
- 4,707
If you have been doing IM for 3 years well, and consider $12,000 a month a huge amount, maybe you should diversify.
$12,000 a month is a decent amount for sure, but after 3 years you should be at least close to that. If you are not earning at least a couple of grand a month after 3 years then I would diversify or consider whether IM is your strenght. Also be honest with yourself - how hard have you WORKED for those 3 years? 40 hours a week for 40+ weeks a year - or were you lazy and did 10-12 hours a week and played games and went to the cinema - meaning altogether you haven't actually worked for a year yet.
If you genuinely are working hard and not making at least a few grand a month after 3 years - you'd be better off doing just about anything else financially. Road sweeping would pay more. Consider diversifying or moving on. IM just might not be your thing
Scritty
$12,000 a month is a decent amount for sure, but after 3 years you should be at least close to that. If you are not earning at least a couple of grand a month after 3 years then I would diversify or consider whether IM is your strenght. Also be honest with yourself - how hard have you WORKED for those 3 years? 40 hours a week for 40+ weeks a year - or were you lazy and did 10-12 hours a week and played games and went to the cinema - meaning altogether you haven't actually worked for a year yet.
If you genuinely are working hard and not making at least a few grand a month after 3 years - you'd be better off doing just about anything else financially. Road sweeping would pay more. Consider diversifying or moving on. IM just might not be your thing
Scritty
Forex spread betting is great, but everyone goes through a learning period where they lose quite a bit of money. Once you focus on one currency pair or one commodity, you start to make lots of money. I recommend eToro.
And in the UK, spread betting income is free of income tax, so long as it isn't your main source of income.
And in the UK, spread betting income is free of income tax, so long as it isn't your main source of income.
lshiun
Junior Member
- Jul 28, 2012
- 132
- 55
NEVER EVER TOUCH FOREX!!! In investment world, currency is the worst investment because of their standard deviation(risk) and no one can predict the fundamental value of currency and past performance IS NOT related to the future performance. prepare to lose money in long term. All forex systems you found are some sort of scams, whoever make $ thru the systems are pure luck.
Forex success relies heavily on skill - it relies mainly on using stochastic oscillators to correctly predict swings and changes. If someone were to rely on "pure luck" then no wonder if they didn't succeed at it.
BadyBoySEO
Regular Member
- May 17, 2013
- 320
- 95
Your friend is an idiot. Forex can be a good investment, but if you really want to make a living from, spend about 3-5 years learning about financial markets. The vast majority of retail Forex traders lose money, because they are over leveraged and don't properly understand the markets. Your friend is most probably over leveraged and over exposed to the markets, unless he has a huge sum in his account.
Consider trading, but don't jump straight into it. It's a steep learning curve, been trading for three years and while I've made a profit overall, things have only really started to click properly recently. People think trading is easy, but around 70-80% of retail traders end up as losers. There is a reason why hedge fund managers and top traders are paid so handsomely.
Consider trading, but don't jump straight into it. It's a steep learning curve, been trading for three years and while I've made a profit overall, things have only really started to click properly recently. People think trading is easy, but around 70-80% of retail traders end up as losers. There is a reason why hedge fund managers and top traders are paid so handsomely.
lshiun
Junior Member
- Jul 28, 2012
- 132
- 55
Stochastic oscillators are used for stock not currency. Currency cannot be analyzed. i am CFA btw
BadyBoySEO
Regular Member
- May 17, 2013
- 320
- 95
Stochastic Oscillators are used by lots of Forex traders, its just a measure of the current price in comparison with the selected periods highs and lows. Whether Stochastic Oscillators can be used as a reliable indicator is questionable, the majority traders who take Stochastics into account, use an stochastic oscillator alongside other indicators.
I know of traders who use stochastic successfully within a more complicated trading strategy, to help identify overbought and oversold levels.
D
Deleted member 36594
Guest
I traded CFDs before in the past. Lost about 10k because of lack of discipline.
I studied everything about technical analysis and I still lost because of discipline, over-trading, .etc.
So even if you think you have the skill to trade, you need to master controlling your emotions.
Recently I've just started trading again. I trade small and also writing naked options (I know, high risk I cut risks and limit losses by buying otm options, .etc), and am doing well. IMO, price levels and Fibonacci retracement levels do help in a way. And I use basic indicators like momentum, RSI, and MACD.
Anyway, what I'm trying to say is.. you need to study and learn. And don't think just because you can trade well using paper money, it means you will be good when you're trading real money. Your emotion will step in and if you let emotion control you, you will make horrible actions which results to worser losses.
I studied everything about technical analysis and I still lost because of discipline, over-trading, .etc.
So even if you think you have the skill to trade, you need to master controlling your emotions.
Recently I've just started trading again. I trade small and also writing naked options (I know, high risk I cut risks and limit losses by buying otm options, .etc), and am doing well. IMO, price levels and Fibonacci retracement levels do help in a way. And I use basic indicators like momentum, RSI, and MACD.
Anyway, what I'm trying to say is.. you need to study and learn. And don't think just because you can trade well using paper money, it means you will be good when you're trading real money. Your emotion will step in and if you let emotion control you, you will make horrible actions which results to worser losses.
