Posts Tagged ‘Auto Care’

Forex Trading Myths (and honest answers)

November 10th, 2022

Forex trading online has become more and more popular in recent years,Guest Posting due in large part to the popularity of stock trading on the internet. But along with this popularity comes the inevitable hype, myths, and at times, complete untruths. Here is the list of the most common Forex myths:

· Forex trading is easy. First the truth. It is easy to start Forex trading and it is easy to buy and sell currencies online. But succeeding and making money is anything but easy. It takes education, time and practice. Of course, there are talented traders that learn very fast, but generally speaking, starting traders should dedicate part of their time to educating themselves, practicing and developing strategies.

· Forex is gambling. This is a myth and is often heard about all forms of trading; whether it’s stocks, bonds, futures, options etc. In reality Forex is the epitome of macro economics in the purest form, even more so than other types of market trading as it deals solely with the performance, structure, and behavior of national or regional economies as a whole, and their interrelationships with each other. If this were true, then all the national economic administrators, advisors, consultants and students are the world’s best gamblers. Rather we are all students of economics, technical analysis, fundamental analysis and psychology.

· Forex is a scam. Forex got some bad press after High Yielding Investment Programs (HYIP’s) started to claim that they earn money on Forex. More recently a firm in New York was shut down and another’s internet trading site dismantled for bilking investors out of millions. Fortunately prison terms have been issued for bringing discredit to a legitimate, regulated and law abiding industry. Actually Forex is a real currency market where anyone can trade for themselves and be responsible for their own decisions, so it’s hardly a scam. The only scams you should be afraid of as a Forex trader are scamming brokers and marketers that sell Forex books, sure-fire strategies, trading systems, guaranteed returns or the usual “to good to be true” devices.

Reminiscences of a Forex Trader, Part 1

April 1st, 2022

Forex trading is hot, hot, hot right now. And one of the biggest reasons why is that traders are using leverage to amplify returns by 200 times – where $1 controls $200 worth of foreign currency. The returns can be staggering.

For example, on British “Black Wednesday” of September 16, 1992, George Soros made a single day’s Forex profit of US $1 billion by short selling the Great Britain Pound Sterling.

At the time these kinds of profits were only available to large players.

But recently a major change in the way Forex trading is done has opened the trading desks to the little guy. The Internet has opened the door to the small investor into this $3.98 trillion daily market.

But Forex, or foreign exchange trading, has a reputation as “one of those” financial derivatives. And while much of its reputation is deserved, that doesn’t mean you shouldn’t be aware of Forex and its uses…

Forex Market Expert Thomas Fischer

Unfortunately, Forex isn’t only intimidating to the average investor – it can be downright confusing for even the shrewdest money managers. So I sat down with an expert on Forex, Mr. Thomas Fischer, to clear the fog around this hot topic.

Thomas Fischer, of Jyske Global Asset Management in Denmark, is a veteran of the interbank foreign exchange market with a 22-year profitable history under his belt. I was lucky enough to talk with him at the Investment 2009 Conference in St. Petersburg, Florida last March.

I sat down with him last week to get his thoughts on Forex for Investment U readers because of his relationship to the Oxford Club and Investment U and because Mr. Fischer trades in transaction sizes that are nearly unimaginable to us mere mortal investors.

He considers a “light” day one where he’s traded only $100 million in foreign exchange. And, he’s been so kind as to sit down for an interview

Over the next two articles I’ll get his thoughts on how he got started Forex trading, what traders need to be aware of, and some of the best ways to limit your risk if you decide to jump into this market.

What I’ve found most interesting, above all, is that much of the advice he gives about Forex trading can be applied to stock trading just as easily. A good investor is a good investor regardless of the security…