I have always been interested in the stock market, and I just love trading forex. I think I would even love it more if I could teach other people how to do it. What do you think about a site that is dedicated to providing free and paid courses on how to trade the stock market?
For starters, the terminology. Some people say this is the main reason why it's hard to learn trading. You can come across five different words that mean the exact same thing. That makes learning anything hard.
I think it would have to be an arm of a larger site that has real time quotes and trading activity. The type of advice that you're talking about can only be legitimate AND free if you know they are making money from other parts of the site.
A friend of mine does Forex trading and I am thinking this must be really addictive. I find the terminologies to be too complex at times but she's been taking me through. It's just a matter of developing a strong interest first.
Everything is complex when you first start out, but soon those terms will become familiar and everything will start to make sense. I love the thrill of knowing you can make a trade and make money just from 'reading' and interpreting what the markets are telling you. Is there an easier way to make money? Even if you have to spend a few months learning?
Dangerous companies get people to bet their money on currencies or other quotes. After gaining fabulous gains and depositing all their savings, naive people lose everything, including their money.
A man from Satu Mare quickly lost the money he had earned through work in a few years. Florin Frunzar tells how he was tricked and how, from naivety or despair, he fell from one trap to another. One day, he was summoned by phone, from a number he did not know, to someone who recommended himself as a representative of Online Interactive Marketing (OIM) Trade in Bucharest. "He told me that I can make a lot of money by investing in the forex market - Forex on the Markets.com platform." We refused this proposal at the outset, "the man tells us. The phones continued, and Florin asked the next call about the risks of losing money. "He replied that there was no risk because they had experience, in the worst case I could lose 10 percent of the money because there was a loss-stopping system. I thought they were serious guys who know what they are doing "He says. Top: invested 21,000 euros and won 34,000 euros Started betting three months ago. At first, everything went well. "I decided to invest 1,000 euros, to see what was going on, I made a few transactions, and then I was called by trader Ionuţ Stanca to make a bigger amount, saying he had some reliable information. For a week we have reached a balance of 15,000 euros, "recalls Florin. "Then Alexandru Balaban called me, the trader we usually work with and told me he has some reliable information. However, I have to have at least 25,000 euros in balance so we can trade, and in a maximum of one week I can I have already deposited 10,000 euros. Everything went well: from 25,000 euros in a few days we reached about 55,000 euros in the balance, "says the injured. However, the man was convinced to gamble risky to get even greater profit. "At the trader's advice I made several transactions, with a very large volume compared to what we traded so far and on a single parity euro / huf (nr - forint). Under these conditions, in a few hours I saw how it melts Account from approximately € 55,000 to € 1,000 ". And he played and lost To recover his lost money, he was convinced by OIM Trade representatives to invest another 10,000 euros. "After making them understand that they can not deposit more, we started trading, after three weeks we reached a balance of 20,000 euros." Trader Dorin Ghigorghiade decided to trade at higher volumes than the previous ones and Namely 2; 3 ". "Of course, again I saw with horror how my account is in a free fall. I contacted the trader, but he told me that he knew what he was doing." In a few hours, I lost everything, I remained with 800 euros out of 31,000 Euro, as we were balancing, "says Florin Frunzar. Works without authorization We tried to contact the representatives of OIM Trade at the headquarters located on Aviatorilor Boulevard, but there was nobody. From the Amera Tower reception, the building where it is based, we were told that there is no contact number. According to data from the Trade Register, Online Interactive Market SRL is passed as an "entity without legal personality" and is managed by Andrei Vlădulescu. "OIM Trade is not endorsed by the National Securities Commission to conduct stock market transactions in our country or has not filed any applications that are under review." If I only do Forex transactions, then They did not need approvals, but I saw on their site that they are also doing other transactions, which would require advice, "we have been told from CNVM's public relations department. "I complained to the police, it seems dubious, I do not know if it is possible to lose such sums in a few hours, I may be tricked, something arranged to take my money," Florin told us. Other victims of Andrei's Suceava foreign exchange bets are another victim of this type of investment. "I was called from a profile company and somehow convinced me to invest 1,500 euros, so I played at Forex and after two weeks I lost all the money, then the company went missing."
Nothing in that story makes sense from a real TRADER's point of view. It all sounds like gambling to me. I've been trading online for almost a year now and I started with a balance of only $100 which has since grown to over $1000 in the course of 10 months. Trading works if you put in the effort to learn not try to get rich quick from so called 'reliable information'. If you're not willing to learn, then trading is not for you, but just don't try to convince others that it doesn't work just because you did things wrong and cut corners everywhere.
Ask the tons of people who have made their millions and continue to invest those millions on the stock market and the financial markets - this works! My personal goal is to increase my $100 deposit (now $1000) to $10,000 by December of this year and then to turn it into $100,000 in the coming 2 years and I have no doubt that I will achieve that.
I'm inclined to agree with Geordy. I, too am trading forex online and I have to admit in the beginning I was all about making a quick buck rather than creating a foundation for steadily growing my account and eventually earning an income from trading - and I blew my account in a week.
It would have been easy for me to give up and blame someone else or the system for my loss, but I decided to take responsibility and learn from my mistake. Fast forward two years later and I'm still learning and slowly but steadily growing my account. I have some months where I make a loss but most months I come out ahead.
I'm reading through Birla's comment but there's nothing much to gain from it. @Geordy, it is delighting that you are making that much from Forex trading. What would you say to someone like me, with little experience in this but willing to go all the way?
I'm glad you asked that question, tulip. If you hadn't done so, I would have. I think it's always great to hear advice from people who are actually doing what we want to learn rather than from the gurus who have forgotten what it's like to be in the trenches.
On a more serious note, if there is a website that is truly committed to the task of giving free and paid training seminars on how trading foreign currencies can generate a good income, it is definitely out of passion. Website owners like that are rare in our societies. Although, only few of them do this for a long time, some still do it passionately and continue without stopping.