I have done well day trading stocks but have no
knowledge of forex. Do some individual traders
do well consistantly
Yes but not using forex brokers themselves.They are setup under a business model of keeping peoples deposits.They are not compensated purely from pip spreads as you would beleive.Think about a broker such as InterbankFX.They have offices staff payrolls overheads.There is no way they could turn over enough profit to sustain that from just pip spreads.Like an introducing broker.Forex is off exchange meaning unregulated.It means its a private loan agreement essentially they could just keep your money.Futures commodities and stocks are ok because they are heavily regulated.But only way to trade forex properly is through a bank sending bank wires purchasing and selling converting currencies.And for this you would need at least $20k to trade one pair such as AUD/USD.$10k of each currency.And you would need a company LLC in the USA because foreigners cant have bank accounts.Corporate is ok.AU they can have them.And of course if you lived in AU you would need netbanking with enough pay anyone international access as you wouldnt be able to go into a USA bank physically.And the same if you lived in USA you would need pay anyone international access to your AU company account to send and recieve wires etc.This can be done but why bother when there is futures stocks and commodities.Cuurency futures are fully regulated no risk of scams.
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{ 7 comments… read them below or add one }
Yes. I know some people who do. But why would you want to if you’re doing well in daytrading stocks? Daytrading stocks doesn’t prove anything when it comes to forex and vice versa. Pump the stock well for all it’s worth.
References :
About 99% lose their shirt.
You’re talking needing to move millions of dollars around just to make thousands. One wrong guess can wipe you out.
It’s more dangerous than commodity trading.
Stay with what you’re good at.
References :
Yes, this is a very popular area of trading and one that is continuing to grow. Although I choose to do other work at home jobs forex is worth a try. Take a look #12 on the following list http://www.Wahrs.net
References :
Hello,
I also had a similair problem as you have.
I had a good amount of money, and wanted it to grow.
So I looked around on the internet to find something that is:
1) giving me great returns towards a relatively small risk
2) Professional people who know what they where doing with my money.
I’m glad to say I finally found a moneymanager who is capable of giving me good returns and give me a great support.
On this blog you can follow up all the results that he is making:
http://my-robottrader.blogspot.com/
My money is working for me, in three months time I already have a ROI of 92%.
So you don’t hear me complaining!
Annyway if you would like to get in touch with my moneymanager to have some more information feel free to contact me you can send an email to me at derrekmay at gmail.com.
Then I’ll give you the email adress of my moneymanager
Hope this has helped you!
References :
Hell yeah you can! My GrandPa is a multi-millionaire (that cheap bastard) and all he does is trade forex, stocks, loan money to collect interest off of, and something with real estate. Well that’s not really a small amount, but I’m just saying.
I’m not sure what all you need to know, but the most beneficial tool that everyone uses (even listed in magazines as the top source) is http://www.squidoo.com/Trading_Forex/.
They list quite a few instructional videos, courses, strategies, auto-trading programs, etc. It’s a lot to choose from, but you must understand there are literally hundreds or thousands of different things out there. These are the top picks out of everything the person tried, along with reviews on some of them (though he states more will be added later.
Anyways, give it a go and see what you can learn.
References :
Yes but not using forex brokers themselves.They are setup under a business model of keeping peoples deposits.They are not compensated purely from pip spreads as you would beleive.Think about a broker such as InterbankFX.They have offices staff payrolls overheads.There is no way they could turn over enough profit to sustain that from just pip spreads.Like an introducing broker.Forex is off exchange meaning unregulated.It means its a private loan agreement essentially they could just keep your money.Futures commodities and stocks are ok because they are heavily regulated.But only way to trade forex properly is through a bank sending bank wires purchasing and selling converting currencies.And for this you would need at least $20k to trade one pair such as AUD/USD.$10k of each currency.And you would need a company LLC in the USA because foreigners cant have bank accounts.Corporate is ok.AU they can have them.And of course if you lived in AU you would need netbanking with enough pay anyone international access as you wouldnt be able to go into a USA bank physically.And the same if you lived in USA you would need pay anyone international access to your AU company account to send and recieve wires etc.This can be done but why bother when there is futures stocks and commodities.Cuurency futures are fully regulated no risk of scams.
References :
Yes, there are definitely individual traders who do well consistently.
If you’d like to find out more about consistently profitable Forex trading, you may want to download my free report at the link below:
References :
http://www.forexsystemprofits.com