Quote:
Originally posted by cyberkrish
Hi,
I am tradin gfor the past few weeks and iam learning that this business is lucrative.But why many people are not into this and people say that there is a very good future for Forex.Can anyone explain why people are tradin gstocks more than forex?IS there any reason?
I welcome your answers and i would appreciate it.
cyberkrish
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Those who are actually aware that trading FX even exists see the potential immediatly, it's like a dream come true. Hells bells, look at that profit potential, if I'd brought there and sold there that'd be 100 pips at 50 bucks a pip, wow, and I only need $5000 to invest, I can double my money in a day!
Overleveraged, underfunded, and ill prepared they inevitably lose their shirts and swear blind that they've been ripped off by unscrupulous brokers, were just unlucky, or that making a profit in forex is an impossibility. The word soon spreads that no-one in their right mind trades forex, it's a guaranteed way to lose money, better to play with blue chip than take on the FX market! There's less risk in buying Microsoft shares than in buying Euros.
Then there's the cautious investor who plays the long term game of learning his trade before diving into a live account, patiently, logically, systematically. He trades
demo until he has the absolute confidence to open a mini, which he trades for months on end. Then he uses his winnings to trade a regular account and goes on to make real money, and yes, he follows the trend, trends do exist and are identifiable contrary to what some 'experts' claim
People want and expect instant wealth from little effort or investment of time or funds. Most new traders are unemployable, uneducated, underfunded, impatient, greedy, ignorant, and born losers. The advantage of trading stocks over FX? It takes longer for them to lose their savings.
That's the truth of it.
Pete