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Re: Feel like the Forex itself is a Scam...
Posted: Tue Sep 07, 2021 10:46 am
by jng640
HeavLeighGill wrote: Sun Sep 05, 2021 12:59 am
There are definitely scammers out there but Forex itself isn’t a scam. If you invest money with a scam brokerage, for example, they will take your money. Of course a lot of people still lose money trading, which adds to the idea that it isn’t possible to make money doing it.
Thanks for the replied.
Definitely it's what I feel when I'm keep losing money with the wrong trading system,trading phychology,attitude and discipline!
Re: Feel like the Forex itself is a Scam...
Posted: Tue Sep 07, 2021 10:49 am
by jng640
mlawson71 wrote: Mon Sep 06, 2021 10:48 pm
That is putting it mildly, unfortunately.
For H1 of 2021 Australians lost some 70 million USD to trading scams, the vast majority of which were crypto scams. You have to be exceedingly careful when you pick the company you're trading with, and these days you need to be especially careful if they're offering cryptos.
The market itself is not a scam, but a lof of scammers use the market to rip people off.
Yes agreed, it's better only use those with licensed brokers, so far I only used ICMarkets and their spreads is unbeatable!
Re: Feel like the Forex itself is a Scam...
Posted: Tue Sep 07, 2021 4:57 pm
by LuckyMac
jng640 wrote: Tue Sep 07, 2021 10:49 am
Yes agreed, it's better only use those with licensed brokers, so far I only used ICMarkets and their spreads is unbeatable!
Completely agree with this. You need to do research and keep your eyes open. Crypto was used a lot but now i can see more places adapting it having said that i wouldnt invest or give any money to any company suggesting ill make a fortune with crypto or forex for that matter because its simply not that easy.
Re: Feel like the Forex itself is a Scam...
Posted: Wed Sep 08, 2021 12:34 am
by mlawson71
I agree about using licensed brokers, but I think it's important to remember that there's a difference between licenses. A license from Vanuatu's regulator is not the same as a license from the FCA.
Re: Feel like the Forex itself is a Scam...
Posted: Wed Sep 08, 2021 5:57 am
by reecerispoli1
jng640 wrote: Fri Aug 27, 2021 5:47 pm
is anybody feel likes me? It's looks like forex market is a place for bank to took our money off from our pocket...
It's not the first time after the news event came out but the price go opposite from the result. Like today's AUD Retail Sales is probably negative result, but in the end the AUD become more stronger.
It can feel like that sometimes
And all the scammers don’t help matters
Re: Feel like the Forex itself is a Scam...
Posted: Sat Sep 11, 2021 12:16 am
by mlawson71
Unfortunately many traders - especially newbies - get burned by scammers. It has almost become a rite of passage for newbie traders, and it shouldn't be this way.
Re: Feel like the Forex itself is a Scam...
Posted: Thu Oct 28, 2021 10:39 pm
by sebking1986
If you're thinking in terms of "good news so this will get stronger" you will always get caught out. Look for areas where liquidity sits and think if I were a bank where which liquidity pool would I drive price to on the back of news. Look to see if that happens, wait for confirmation and for price to settle and go from there.