Re: Forex Trading?
Originally Posted by
MKJ
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is it possible to make a good living out of trading even if you don't have a great deal of money behind you?
Sorry but the short answer is NO.
95% of all private investors who trade frequently loose money overall.
If you want to get into financial investments and trading I strongly suggest you start by reading up some of the many books on investing in shares, bonds, and commodities, and even if you don't have a lot of money go long on a FTSE100 share and follow it daily on a web site like ADVFN which is free if you don't want live prices.
You'll find a chat forum on there where many private traders will talk about 'deals' but
believe me much of the talk is rubbish and many peole on there boast about their trades and how much they have made, but never tell about their losses, so you have to learn who are the knowledgible people and who are the bull sh****rs
it takes a little time tobe able to spot them.
Then if you reinvest your dividends, and you are patient, you'll build up a small portfolio, and over time it will grow, then,
and ONLY then could you consider the more exotic products.
The best way to look at the stockmarket, and the commodities trading floors, and FOREX, is to
only invest money you can afford to loose, in other words if you invest £100 and you at some point in the near future might need that to pay your mortgage or the 'lecky bill then
don't invest it. If on the other hand you have £100 and you really can't think of anything to do with it then consider investing it.