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Question of the day ~ Do you use free public wifi?
Forex in South Africa
Unregulated. Unlicensed. Foreign. If it's too good to be true. .it isn't. Guys. ..gals..do your homework. Investigate the company. Investigate the broker. Check the country they are located in. Can you get your principal out quickly? What are the financial and extradition laws between countries? What are the tax laws applicable to both countries? Be a responsible investor and ask tough questions!
Pho3nix
The Legend
- Joined
- Jul 31, 2009
- Messages
- 29,598
Couple FSB accredited brokers lately.
Forex trading seems to be booming lately with a couple self made millionaires.
As for strategy.
Most popular seems to be BTMM or Price action with Naked Charts.
*please note I'm not a financial advisor and any advice given is my personal opinion and nothing more.
Golden rules: 1.money management, 2.don't be greedy and start with a demo account.
Definitely! One mistake new traders make is choosing an unregulated broker. If the company folds, anything could happen to your hard earned money.
One problem however is knowing where and who to ask the difficult questions. For the average trader access to correct information is often difficult, and there are numerous self made "millionaires" misleading the masses.
A little research does go a long way. Don't follow the crowd, be your own trader.
One problem however is knowing where and who to ask the difficult questions. For the average trader access to correct information is often difficult, and there are numerous self made "millionaires" misleading the masses.
A little research does go a long way. Don't follow the crowd, be your own trader.
Strategy wise, an individual must decide whether they are more suited to:
1. Short term trades lasting a few minutes or days
2. Longer trades lasting a few days and more.
Either way, your chart reading technique must utilize at least 3 or 4 different time frames. This helps in confirming trends. Coupled with trusted indicators and a trading strategy that one will follow to death, you're one step closer to being a good trader.
Usually many people are their worst enemy when they move from demo trading to live trading. Learn how to manage emotion. Sticking to a plan no matter what helps, and it makes it easier to pick areas of improvement if you know what you're doing.
It's not about the platform, your capital or strategy, it's about you and how well you manage them. ASK QUESTIONS TOO!
1. Short term trades lasting a few minutes or days
2. Longer trades lasting a few days and more.
Either way, your chart reading technique must utilize at least 3 or 4 different time frames. This helps in confirming trends. Coupled with trusted indicators and a trading strategy that one will follow to death, you're one step closer to being a good trader.
Usually many people are their worst enemy when they move from demo trading to live trading. Learn how to manage emotion. Sticking to a plan no matter what helps, and it makes it easier to pick areas of improvement if you know what you're doing.
It's not about the platform, your capital or strategy, it's about you and how well you manage them. ASK QUESTIONS TOO!
Someday, somebody needs to explain to me the allure of forex trading. Is it because it is advertised the most? Or because it is easy to get started? Or because it is a foothold into something more exotic? Or it is the only thing people think of when they think "trading"?
Of course it is a massive business, so I'm not knocking it. Just wondering...........
Of course it is a massive business, so I'm not knocking it. Just wondering...........
Thor
Honorary Master
- Joined
- Jun 5, 2014
- Messages
- 43,650
Like ref wayne lol
Pho3nix
The Legend
- Joined
- Jul 31, 2009
- Messages
- 29,598
Thor
Honorary Master
- Joined
- Jun 5, 2014
- Messages
- 43,650
Dividend Tycoon
Active Member
- Joined
- Feb 10, 2016
- Messages
- 47
Unfortunately even the legit ones delude the masses. Anyone who thinks they can predict currencies is crazy. Trillions moving everyday and you think you can predict it....rather go to Grandwest casino, and invest in shares.
Hahahaha
True, predicting currencies with a 100% success rate is utter hogwash. However, like investing in shares, you make your profits through cutting your losses and maximizing your profits.
As a rule, I'd rather wish to be IN a trade than OUT of it, and I certainly will not trade unless I believe the risk I'm taking will be significantly less than my expected profits.
It certainly is advertised, maybe over advertised, and there are little to no barriers to entry. Literally, every "trader" that opens an account to trade and blows the account makes someone else's paycheck. I wouldn't stop people from trading forex, I'd give them information to protect their assets and be profitable. If it doesn't work out, your money is my money. The forex market lives off this allure you speak of.
I view the forex market as an indicator of social sentiment. People (and machines) make the market move - upwards, sideways, downwards, whatever. At the end of the day, it's not exotic - just regular money exchanging between regular hands.
if you are interested in forex signals please join https://t.me/forex_signals_club free telegram channel
kidnotorious
Active Member
- Joined
- Jun 3, 2010
- Messages
- 97
I have a lot of respect for the balls on that guy. Triple plated latinum!
I wouldn't touch pipcoin if my life depended on it but think about it guys. For a time Ref was his own central bank.
#Respect