Forex is money sucking machine?

depending on the tradernya own. For a qualified trader, forex course, is not the place to spend the money, but a place to gain profit. Unfortunately, some survey did say, that 90% of Forex traders are not successful, and only 10% are successful...

actually it depends upon us that we will let the forex trading to suck our money or not because if you will gain some knowledge then i must say that you will definitely get the success otherwise forex definitely suck your whole money for sure.

it actually is a money sucking machine but it is like that for the people who do not know when to stop trading .i mean if you keep losing money in forex do not just keep depositing more to trade with and you should have a (limited forex budget) every month do not invest all your money . it is too risky

I do not agree with your opinion, not all small traders go broke here. all have the same chance of making a profit, just different numbers between us and other large traders.

Forex currency exchange trading is never a money sucking business to involve ourselves in. We simply make the trade easier and more understandable for us by just learning more about the business.

i dont think so how can you say like that everyone has a chance of managing the trades so it is not like gambling you said as one lost other wins,if that is like that betting also will be legal everywhere as it also like one lose other win but i think it is not like that and it is an investment and also will you say entire world is scam as money rotates from one person to other-no,it is not like that and forex is an investment as per me and if you have skills you can make money,it is not a robbing program or other and if it like that it would have stopped now

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Originally Posted by assi

Hi friends
Are you agree with me that forex is money sucking machine and on daily basis it sucks the money of small traders and accumulate the money in the accounts of big traders? As we know that money in the forex is limited and it transfers from one account to another. Let suppose if you open the position and market moves in your favor then its mean that forex is now getting the money of some one else who open the trades against you and whose lot size is bigger than you. If he will close the position then market will move to get your money now and if you will not close it then your money will go to some one else account.

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You can put it any way u want. According to me its a heaven for experianced people to earn easy and fast money. Its always unstable and unpredictable. But that how it got to be. A trader is risking his own money for making profit. If luck favours forex can make a lot for trader. I see it as a jackpot.

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Originally Posted by dareking

bhai forex mein luch naam ki koi cheez nahi hoti hai agar rahi baat luck ki to luck sirf demo contest mein ajmaya jata hai real trade mein real trade to hum bina soche aur samjhe karte bhi nahi hai kyun ki humara ismein paisa laga hota hai demo contest to chalo gambling kar bhi le to kya hoga jayda se jayda contest nahi jeet payenge par bhai demo contest mein sab gambling hi karte hai usmein ananysis karne ka time nahi hota hai

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My friend i look the chart for atleast 10-20min. Then i buy a lot when it reaches a lower resistance point and just starts to rise. I sell it when it start dipping 2-3 points. The range between my buying and selling point is what i called as luck. I know that for large amount traders they control the movement. But for small traders like me its nothing other than luck. I think you got my point.

I think it just depends on you.Sometimes you can say that forex is a sucking machine,because you are losing your account again and agin.But sometimes you may regard it as a making money machine,because you can profit so quickly there.

It is true that Forex sucks money. But also it is true for unexperienced traders. Without knowledge definitly you will loss and someone else will take your money. It is all about understanding the market and then making profit.