Have you ever get much money from forex?
Last Updated on Saturday, 20 December 2008 10:13 Written by Gary.L Friday, 19 December 2008 02:12
yashar asked:
How much did you invest and get from forex (foreign exchange)?
Have you ever lost all or most of your money?
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Tags: Forex, Lost, Much Money
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I haven’t done any forex trading. But from what I understand, most forex-traders use up to 100:1 margin. Which makes trading very risky. Because on a 100:1 margin, all you need is a 1% loss on your investment to loose all of your money.
It’s the use of margin that makes it so risky. But if you trade only with your own money without any margin at all. Then currency trading probably is not any more risky than stock trading is.
Most forex traders start off with a demo account, but I have yet to meet any trader who makes an income out of trading the forex say that they have never lost.
Most online resources recommend starting with atleast 300 – 1000$, but in my opinion a 5000$ account will allow you more chances to succeed, just because your tolerance is much higher.