If Forex is so lucrative then why many people are not interested in this?

[currencia]

"You only have to figure out when to enter and when to get out."

BRILLIANT



"You know the direction of the trend" !!! Ask ten the trend and U will get 12 different answers

You would have better luck throwing darts at three words posted on a bulletin board>>> up, down, sideways. Whichever the dart hits, well thats the trend!

[socrates]

currencia

I like your last idea about the dart board - in fact i'm almost sure that may work from time to time.

On some days that's exactly what I feel like doing.

[mishak]

Well, Forex market is not so young. It is just no so well known in North America. The drop from Nasdaq 5000 made some poeple to buy real estate, some others moved to forex.

The market is not so easy manipulated by powerful individuals. Of course, one never knows what to exprect from some ZAR/BRD.
Major are very smooth, BoJ for example warns two weeks at least before intervene. Public speeches are usually scheduled, so you may stay out of the market (or "bet" on some outcome).

About analysts.
Me, personally, I do not listen to them, they distract me from my own ideas. Sure they may say whatever ...
Better time to read closing day remarks to find out the market sentiment for the passed daya and to put some labels on big market movements.

Take care and have fun

[mishak]

Well, forex market requires more professional attitude than stocks or bonds.
General public do not understand that they could buy and hold a currency (like stocks). And currency does not mature.
So, one have to learn more about bid and ask, stop loss and take profit (like Martha Stuart).
Not to forget about the leverage 1:100

You know ...

[peteuk]

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

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

[bearprofits]

Peteuk,

Glad to see you back on the forums! Thought we were going to have to post a ransom, but I see you escaped! LOL

What I have found is most Forex players are undisciplined. ( Judgement from my own past experience and close friends who are afflicted with the trading bug ) Having a workable system is not enough, either you use strict money management rules, cut you loses short, let the profits run, ect... All these axioms are either enforced or it's a matter of time before your account is wiped out.

Just my $.02 worth.

[peteuk]

Hey, it's the bear, I see you survived the hunting season

A ransom, now there's an idea, but who'd pay?

Your $.02 is actually worth a small fortune to those just starting out, discipline is key, maybe that's why more people trade stocks than fx.

Talking about trends, anyone catch this 350 pip move on Friday? If this wasn't a trend I don't know what is, complete with perfect Fibonacci retracements, luvvly stuff for a Friday even though I only caught half! Now all we have to do is go long for an MPC rate hike in Feb for another 350 pips, easy huh!

[Freestyler]

Hi there

I am also new to FX trading, and have a quick question to ask PeteUK if thats ok ...

MetaTrader the software, is this something you use as a private investor/FX-Trader?

I visited the web site, downloaded and registered for the demo and I am in the process of evaluating it now- however I noted that alot of the site is Russian oriented and many of their reference company sites (that use their software) are also russian

not offence to the fine Russian Traders out there, however, it caught me by surprise to see a wall street type software company (fin mkts) operating out of Russia - do you use the software for executing trades or for analysis?

Also, while on the subject - what do you all think about www.gaincapital.com for executing FX trades - anyone had any good experience or recommend other trading platforms?

Best Regards

FreeStyler
London