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Forex Trading Is Not For The Faint Hearted
from:Alan Maynard
There are lots of rags to riches stories about Forex Trading
making the rounds? Have you heard the one about the Manager of a
McDonalds restaurant in the City of London who got a tip from a
Forex broker, and two weeks later he drove into work in a brand
new gleaming silver Lamborghini?
My friend Jake heard a very similar story and was on the verge
of remortgaging his $400,000 flat and investing it all in Forex
trading. Luckily for him, I found out about his plans and I went
over to visit him. I don’t want to go into too much detail,
but let’s just say that Jake and I won’t be talking to each
other for a little while.
I get really frustrated when people believe all the hype they
hear. Sometimes, I feel like bringing out the sledgehammer I
keep under my bed, and going out there to do some damage. Do you
think I am a raving lunatic? I’d like to have a quiet word
with you then. Are you ready?
Seriously, I don’t mean you any harm, but I think we need to
talk.
Forex trading is certainly one of the most lucrative money
making opportunities around. After all, seventeen years ago,
George Soros made $1.6 billion in just one Forex deal. This is a
very true story, by the way, but what is also true is that a lot
of money was also lost in that deal. And guess who lost a major
chunk of the money?
No not Warren Buffet. I am talking about somebody much bigger
than Warren. Try the Bank of England.
While George Soros was celebrating his historic currency trading
success, the Bank of England was on its knees, literally. Its
losses were estimated to be in the region of $1.3 billion. As a
result of this, the British Government was forced to leave the
Exchange Rate Mechanism (ERM). If you’ve heard of ‘Black
Wednesday’, then that is what it was about.
95% of people that take up Forex trading lose all the money they
invested. You have a chance of joining the 5% group of Forex
traders who are actually successful at trading. I can tell you
that the majority of the people that fail at currency trading
are those that bought into the hype. On the other hand, those
that succeed are the few that learn all they can about Forex.
I am not trying to put you off Forex currency trading, or scare
you to death. I just want to show you a different side of the
coin. I want you to have a balanced view of what is involved in
trading currency. That is why I have a series of articles
depicting the reality of Forex trading.
Ironically, I wouldn’t have to be doing this if the Forex
industry would show a little more restraint in luring newcomers
into the Forex markets. What they don’t realise is that the
whole industry will be much better off, if retail investors like
you and me were more educated about Forex trading.
Unfortunately, that is not the case. You will find it very
difficult to find objective and balanced information about Forex
currency trading. If you would like to read unbiased information
about currency trading then please check out my resource box
below.
About the author:
For more information and to claim 15 FREE Forex Articles just
follow this link you will
find lots of valuable information, for both newcomers and
experienced traders. look out for more articles from me soon.
Alan
Exchange Rates Euros Specific links
Exchange Rates Euros News
Exchange rates: Month end plays with British Pound value - Economy News
 IBTimes Hong Kong | Exchange rates: Month end plays with British Pound value Economy News The Pound Dollar exchange rate is 0.038% higher on the hour with 1 GBP = 1.5625 USD at 10 AM in London. The Pound Euro exchange rate is 0.268% higher with 1 ... Euro Rallies To Fresh Month High As Growth Outlook Improves, British Pound ... Mixed data slows market enthusiasm Daily Foreign Exchange Market Summary |
Dollar and precious metals at a glance - BusinessWeek
Dollar and precious metals at a glance BusinessWeek NEW YORK Key currency exchange rates Friday, compared with late Thursday in New York: Dollar vs: Exchange Rate Pvs Day Yen 86.34 86.98 Euro $1.3053 $1.3079 ... Dollar and precious metals at a glance |
USE to offer currency options, interest rate futures - IBNLive.com
 Moneycontrol.com | USE to offer currency options, interest rate futures IBNLive.com Currency futures contracts allow investors to hedge against volatility in foreign exchange rates. USE is promoted by 21 public sector banks, private banks ... Exchange rates: Pound Euro expected to maintain tight range Forex Currency Exchange Rates – Dollar Lower While Australian Moves Higher FOREX-Euro breaks above $1.3100 for first time since May |
VW Profit Jumps On Rising Sales, Weak Euro - Wall Street Journal
 Boston Globe | VW Profit Jumps On Rising Sales, Weak Euro Wall Street Journal Favorable exchange rates had a positive impact on Volkswagen's profit. With the euro weaker against the dollar, earnings generated in the US and China are ... Volkswagen First-half Revenue, Profit Rise |
Forex Trading – World Currency Exchange Rates – Dollar Drops Against All Major ... - Best Syndication
 Reuters UK | Forex Trading – World Currency Exchange Rates – Dollar Drops Against All Major ... Best Syndication The euro finally moved above $1.3 again. It is pretty rare that we see the dollar down against every major currency for the day, the week and the month. ... Forex Trading and Currency Exchange Rates Fans of Swiss Franc Face Pain as Currency Slides The combination of a weakening euro |
Bulgari Swings To Net Profit In 2Q, Confirms Outlook - Wall Street Journal
Bulgari Swings To Net Profit In 2Q, Confirms Outlook Wall Street Journal Revenue in the jewelry sector increased by 10% at comparable exchange rates in the second quarter, while those of perfumes and cosmetics were up 2.3% and ... Bulgari Jewelry Sales Up By Over 10% |
Sanofi-Aventis Earnings Beat Expectations, but No Word on Genzyme Bid - DailyFinance
 Kansas City Star | Sanofi-Aventis Earnings Beat Expectations, but No Word on Genzyme Bid DailyFinance The company's diabetes drug Lantus led sales growth, up 11% at constant foreign exchange rates to 926 million euros. Excluding changes in structure and at ... Sanofi Q2 beats market; mum on Genzyme bid talk Sanofi-Aventis Q2 Profit Climbs - Update Sanofi Second-Quarter Profit Climbs 7.6% on Demand for Diabetes Medicines |
Telefonica's Net Profit up 9.4% to 3775 Million Euros in 1H10 (+16% in 2Q10) - MarketWatch (press release)
Telefonica's Net Profit up 9.4% to 3775 Million Euros in 1H10 (+16% in 2Q10) MarketWatch (press release) This performance reflects the positive contribution from foreign exchange rates (+2.2 percentage points) despite the sharp depreciation of the Venezuelan ... |
EPS growth in Q2 2010 - MarketWatch (press release)
EPS growth in Q2 2010 MarketWatch (press release) First-half sales totaled euro 1069 million, up 53.6% (up 9.5% on a constant structure basis and at constant exchange rates). At the end of March, ... EPS growth in Q2 2010 |
Poland ready to meet Maastricht criteria in 2015: PM - People's Daily Online
Poland ready to meet Maastricht criteria in 2015: PM People's Daily Online They include targets or rules for inflation, limits for budget deficits, national debt, interest rates, and exchange rates. Inflation rate should be no more ... |