MoneyTec Traders Community Forum - View Single Post - If Forex is so lucrative then why many people are not interested in this?

jove · 24-01-2004, 02:09

I have been in this market for the last 3 weeks trading mostly EUR/USD. I was testing the market with OANDA. My maximum buy or sell was 5000 EUROs. I did almost double my $1000.- investment within three weeks.

The market is mostly driven and controlled by few key people who issue statements from time to time and by those who echo them on Bloomberg and other broadcasting services. The Forex market is a subdued 500 pound Guerella. It can be shaken and turned upside down by a single person with just a few words.

You actually know the trend most of the time. Just follow the herd. But, directions are changed in the middle of the game without notice. You, as an individual trader will be the last one to get the news. It was only an hour ago when your were told about the EUR/USD hitting 1.35 with no interruptions. The same analyst comes out on Bloomberg to give you the reasons why the EUR/USD has reversed direction and why it is going to hit 1.15.

You can make tons of money day trading this market. You know the direction of the trend. You only have to figure out when to enter and when to get out. Exit while they are preparing the next wave of news and you will be ok.

24-01-2004, 02:09	#8
jove level 1 Join Date: Aug 2003 Posts: 21 Downloads: 0 Uploads: 0 Rep Power: 0	I have been in this market for the last 3 weeks trading mostly EUR/USD. I was testing the market with OANDA. My maximum buy or sell was 5000 EUROs. I did almost double my $1000.- investment within three weeks. The market is mostly driven and controlled by few key people who issue statements from time to time and by those who echo them on Bloomberg and other broadcasting services. The Forex market is a subdued 500 pound Guerella. It can be shaken and turned upside down by a single person with just a few words. You actually know the trend most of the time. Just follow the herd. But, directions are changed in the middle of the game without notice. You, as an individual trader will be the last one to get the news. It was only an hour ago when your were told about the EUR/USD hitting 1.35 with no interruptions. The same analyst comes out on Bloomberg to give you the reasons why the EUR/USD has reversed direction and why it is going to hit 1.15. You can make tons of money day trading this market. You know the direction of the trend. You only have to figure out when to enter and when to get out. Exit while they are preparing the next wave of news and you will be ok.