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?
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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?
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.
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!
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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