Why does forex have a bad rep? | Currency Futures


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Why does forex have a bad rep?

  #25 (permalink)

Baltimore, Maryland
 
 
Posts: 3 since Jan 2016
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That's true about everything


Big Mike View Post
You have to ask yourself what your goal is.

If you are like most retail forex traders, they are oblivious to the facts, are searching non-stop for EA's and signals/systems, and want the most leverage, want to make deposits by credit card, etc. These people are the ones that all those fraudster brokers are going after, and they get them.

Now, if you are a professional, then you know better than mess with any of the above. You can use Interactive Brokers for example, as a reputable FX broker, and have the advantage of more granular sizing of your positions if trading 1 lot on futures is too much leverage or size (and for many people, it is).

Mike

In everything you do you have to know best practices and work with the best. True in the fx trading business it's a little hard to know at first who is a pro and who would just lead you to loses and dead ends but if you're patient and won't rush into things then you'll get yours. I'm just starting with fx trading myself and it is very confusing but i'm sure with the help of forums and blogs like this i'll get to the good people.

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