Chris Brown
Mr CoasterForce 2016
Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.
You effectively buy and sell stock based on the foreign exchange fluctuations that are happening all the time.
I've been aware of Forex trading for a good few years now but was never interested and passed it off as some illicit scam to give people the opportunity to make money and then take it away from them in the market. However ive noticed a huge resurgence in the popularity of forex trading with a lot of people being able to trade on their smart phones in their spare time. I was initially put off because the people I saw jumping on the bandwagon were those who craved money, those who hadn't settled into established careers and those who seemed pretty desperate to share the fact that they were now raking in cash with little to know proof of actually doing so. I initially assumed my Facebook friends had fallen for a pyramid scheme whereby they create the illusion they are successful to coax their friends to join the scheme (when other people join the scheme the person they joined through is naturally pushed up the pyramid and gain some financial reward) the new members do the same and realise to gain significant financial rewards they must move further up the pyramid by getting new members through themselves in turn pushing the first guy even further up. This is repeated everynrime new members join.
However recently more and more of my friends have started getting involved. Two friends have created a website for trading help and tips but don't actaully trade anymore. This got me thinking as when they first started trading they wouldn't shut up about how much money they were making and how amazing the idea or forex trading is, however they have now packed in trading completely and are looking to become trading analysists who can provide signals for beginners. The fact they gave up the trading itself and started doing something that millions of other trading analysists can already offer made me wonder how much money there actually is to be made in the actual trading.
Anyway has anyone on here ever had a go at trading? I'm keen to find out other people's opinions on the subject and am even keener to hear anyone who's experienced or had a go at it. Thanks in advance,
You effectively buy and sell stock based on the foreign exchange fluctuations that are happening all the time.
I've been aware of Forex trading for a good few years now but was never interested and passed it off as some illicit scam to give people the opportunity to make money and then take it away from them in the market. However ive noticed a huge resurgence in the popularity of forex trading with a lot of people being able to trade on their smart phones in their spare time. I was initially put off because the people I saw jumping on the bandwagon were those who craved money, those who hadn't settled into established careers and those who seemed pretty desperate to share the fact that they were now raking in cash with little to know proof of actually doing so. I initially assumed my Facebook friends had fallen for a pyramid scheme whereby they create the illusion they are successful to coax their friends to join the scheme (when other people join the scheme the person they joined through is naturally pushed up the pyramid and gain some financial reward) the new members do the same and realise to gain significant financial rewards they must move further up the pyramid by getting new members through themselves in turn pushing the first guy even further up. This is repeated everynrime new members join.
However recently more and more of my friends have started getting involved. Two friends have created a website for trading help and tips but don't actaully trade anymore. This got me thinking as when they first started trading they wouldn't shut up about how much money they were making and how amazing the idea or forex trading is, however they have now packed in trading completely and are looking to become trading analysists who can provide signals for beginners. The fact they gave up the trading itself and started doing something that millions of other trading analysists can already offer made me wonder how much money there actually is to be made in the actual trading.
Anyway has anyone on here ever had a go at trading? I'm keen to find out other people's opinions on the subject and am even keener to hear anyone who's experienced or had a go at it. Thanks in advance,