How risky is currency trading?
I recently tried out a currency traiding simulator created by a company named ACM and made a considerable amount of money ( unfortunately none of it real as it was only a simulator). THis has left me wondering whether to start up an account with them and start currency trading. But I am worried about losing all my savings. Everything went extremely well on the simulator, but does anyone know how risky it might be?
Public Comments
- Your chances of surviving are better if you jump out of an airplane without a chute.
- Just "gamble" what you can afford to lose. I was a professional currency trader at a bank for 4 years, and was very successful during that period. Last year I opened up an online trading account and lost $20,000 over 6 months. Leverage is a double-edged sword. It is possible to make a lot of money, but it is a lot of work, and bad luck can hit anyone at any time.
- Never invest what you cannot afford to lose is the common saying. Start small and use reinvestment tactics to grow your wealth.
- I've heard of a lot of people doing well with the simulators only to go and lose lots of dough when they switched over to the real thing. Currency trading is a 50-50 gamble. You are basically playing against the big boys who determine the market. When I look at currency trading as compared to the stock market there is no rhyme nor reasoning to it. Totally unpredictable.
- You may want to try easy forex instead where you can start trading for as little as USD 50.00. Also for your protection, you will have a personal Account Manager working closely with you to guide you on your first trading steps and a live one-on-one help where expert team members are available for you, at all times, anytime. They even execute your set rates, including Stop-Loss and Take-Profit rates. The principle is that you should not lose more than your Stop-Loss amount at risk, as defined by you. And you can always change these pre-defined rates at anytime while your deal is open. While it is highly important for you to know that, due to the nature of the Forex Global Market, 100% guarantee to pre-set rates is impossible, easy forex make any and all efforts to guarantee the rates, when it is able to doing so, unless market conditions prevent delivering the rate selected.
- It's very risky for small investors. It's a zero sum game, where winners are offset by losers. Investing in stocks, by contrast, doesn't require a loser for you to profit. You can profit from the general growth of the economy or the specific growth of the companies that you invest in. Investing in stocks is safer and you have a greater chance of success.
