The Main reason Why Forex Traders Fails.

[Moses Opondo]

I have never tried forex trading nor understood it.To me it sounds like gambling and success is determined by luck.Hope I am wrong.

[Marc]

My advice as above - don't bother unless you have at least 100k USD and don't mind losing the lot. It takes an enormous amount of time to learn the skills required to trade and the time and concentration needed to trade is too much. This game is not meant for "bottom feeders".

[Damap]

I've lost 20K on 2 different "this guy is great has a proven track record" systems. I met one honest guy who made a living out of forex. HE said he spent 350K and 6 years learning how to not lose money and he now earns around 500K a year. But he took twice as long as a university degree and a small fortune to get to where he can live off trading.
Definitely not for the faint hearted.

[Marc]

I've lost 20K on 2 different "this guy is great has a proven track record" systems. I met one honest guy who made a living out of forex. HE said he spent 350K and 6 years learning how to not lose money and he now earns around 500K a year. But he took twice as long as a university degree and a small fortune to get to where he can live off trading.
Definitely not for the faint hearted.

This sounds very realistic - for my mindset FX trading is not for me. I found out like most - spending around 5k on training then losing all my funds - then working out I am not built for trading.

But! I did learn a good deal about how the financial markets work, I learned not to trust any financial advisor, any financial products on offer, or the media. So I think the 5k for me did provide great value.

Property is it for me.

[speights boy]

So Marc, I have to ask.

Why do you continue to promote K2A ?

[Marc]

I don't - anything you see now is old stuff.

Though I still recommend them if you are interested into forex - they are a good business. Remember - I am stating that for me personally I am not built for FX - you maybe. Plus they would disagree on my opinion that you need at least 100k USD to trade to make it worthwhile. My K2A mentor was a Kiwi - great bloke and I learned at great deal off him but ultimately you will find out if your built for FX or not yourself.

Just don't believe ANYONE can do this - it requires a certain mindset which I think you are born with or not.

[Marc]

Nope. We all have a brain - its your choice to use it or not.

If your sole decision to get in FX is due to that one blog then I suggest you need to research more. The blog was showing at the time my excitement for FX - which at the time was true. So read it for what its worth - blogs are time driven and clearly I have not shown much excitement for FX on that blog in quite a while.

Plus if anyone believes my word should be considered with some authority for any kind of investments then Caveat Emptor to say the least.

[cube]

I have been hearing a lot of ads for micro trading using automated software, but the web site only says 'you have to see it in action' with an invitation to book an appointment.

Anyone know anything more about the up and down-sides of this?

[kapitibeanman]

Marc, I don't believe having a ""100k minimum" kitty would make any difference to practically all
punter's results, except to extend the pain as it vanishes.
You mention how having a successful transaction with a 2 or 3 point margin is insignificant
unless you have big money at play.
Wouldn't the opposite also be true, and the losses correspondingly bigger?
It all comes down to the gambler's dilemma, when to quit.

[Marc]

Marc, I don't believe having a ""100k minimum" kitty would make any difference to practically all
punter's results, except to extend the pain as it vanishes.
You mention how having a successful transaction with a 2 or 3 point margin is insignificant
unless you have big money at play.
Wouldn't the opposite also be true, and the losses correspondingly bigger?
It all comes down to the gambler's dilemma, when to quit.

Yes all true - the 100k USD minimum I would have is to make my time and effort worth while. However if you don't have the mindset for trading FX then you will lose any amount of money. The video K2A use the most to sell FX is the founder Greg placing a trade and letting the trade increase by ~ 10 pips which can be achieved in seconds. His trade earns about 12,000 pounds from memory. His kitty which is not empathised enough in the video is in the millions of pounds.

So a few pips movement in his direction will earn him some good $$$

[speights boy]

For all those forex heroes out there.

Global Brokers NZ goes bust

A New Zealand currency brokerage has gone bust as a result of the Swiss central bank's dramatic policy reversal overnight.

Global Brokers NZ, trading as Excel Markets, has placed a notice on its website saying it had sustained a total loss of capital and no longer met regulatory capital requirements.

The brokerage said the huge moves in the Swiss franc had led to losses for clients that exceeded their account equity.
"When a client cannot cover their losses it is passed onto us," it said.

[donna]

....hence we invest in property - not FOREX trading and the like.

cheers,

Donna