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    rackcity's Avatar
    rackcity Posts: 100, Reputation: 1
    Junior Member
     
    #1

    May 24, 2015, 08:12 PM
    Is trading forex something long term?
    I usually follow the trend, but lose more than I win. I don't understand how people make money off this? I mean, is it also that they study the market and politics too? What else can I do?
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert
     
    #2

    May 25, 2015, 04:52 AM
    Given that billions in fines were just handed down to several banks who were manipulating Forex, I would stay away from the field. Following the trend often means you are a day late, in any area of investing. I wouldn't call Forex long term anyway. Long term is bonds, annuities, and stocks you follow for their company strength, not what others are doing with it.
    ma0641's Avatar
    ma0641 Posts: 15,681, Reputation: 1012
    Uber Member
     
    #3

    May 25, 2015, 04:05 PM
    Forex requires split second timing since you don't know what the market will do at any given time, particularly in a foreign country. How can you beat Vanguard Wellington fund? 8% over the last 10 years. Put in a couple grand, use DRIP and you will be happy. T Rowe Piece Equity income is another hard to beat fund. Since inception, 11% per annum return. $28 BILLION invested!
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,292, Reputation: 7691
    Expert
     
    #4

    May 25, 2015, 09:15 PM
    Most of the currency trading, deals with tenths of a percent profit at times, so for a small investor, it is nothing, but for banks who invest billions, the profits add up.

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