KNOW ANYTHING ABOUT CURRENCY TRADING?

[RPM]

A friend of mine bought some package about currency trading. he is all over it. its going very well for him so far. his original investment was only 5 grand two weeks ago and he is already up to about $7400.

is he just getting lucky right now, or is this a good way to invest?

 

[newbie666]

invest in gold...

 

[SSI]

he is probably just getting lucky,, i trade commodities at times (not currencies however).. they can be very dangerous, volatile markets can wipe out a $7400 account quickly, unless he is just buying options..

 

[monicus]

I trade futures and it is a good way to invest. But without knowing about his trading style it would be tough to say anything about it. Although by the size of his gains it sounds like he is taking some real risk. What was his last trade?

 

[RPM]

ssi,

not sure if its just options or not, but that does sound familiar. why is trading options safer?

 

[SSI]

when you just buy options -- your risk is limited to the price of the option only.. it has to move in your favor during a certain time frame..

selling options is a totally different story, its very risky to sell first..

trading futures and trading options are 2 different things.. i trade meats, grains, softs, emini market and a little of the metals.

 

[RPM]

is it profitable for you?

 

[SSI]

it has been at times in the past but its also time consuming and im too strung out at the moment to put the effort required into it.. its definately a form of legalized gambling.. you can trade the actual dow jones and its $10 for every point it moves, you can either be long or short, making or losing as it moves up or down.

 

[Phaedrus]

RPM

The money in Forex trading and options and other derivatives can be insane, but the risk is generally commensurate with that, especially if your friend is doing anything on margin (as is usually the case in Forex trading.)

newbie666

While a wonderful currency, gold is a terrible investment, generally speaking. Over the very very long term you'll outperform inflation generally, so it beats for example a savings account at your local bank, but the only way to make any real money investing in gold is with timing -- and that holds true for all commodities, nothing to do with gold itself.


Phaedrus

 

[SPVI]

Probably the most efficient markets in the world. I work with pros and they have always dissuaded me from even getting interested in currency trading.

 

[gopherbob]

for me to open a $5000 account to trade currencies, would be the same as buying
into a poker game for $5000 having never
played before. the results would be very similiar.

 

[RPM]

bob,

me too.

 

[peskypup]

it's a bit like sports betting. Show me a handicapper who has won 20 out of his first 20 picks and I'll set my alarm clock for 2 years'time and go away.

Show me one who has won 580 out of his last 1,000 and I'll ask "what is his next pick?"

 

[newbie666]

it could be profitable if you sell dollars close to the san jose boulevard