Free forex seminar

[IceQB]

Just saw this in the paper: Learn the secrets of the millionaire currency traders. www.fxfreedom.co.za

I've always wanted to try and trade online, but just been afraid to part with my hard earned money.
Is it worth it attending one of these to get an insight into it?
And is it really free as they say?

 

[Beachless]

Just saw this in the paper: Learn the secrets of the millionaire currency traders. www.fxfreedom.co.za

I've always wanted to try and trade online, but just been afraid to part with my hard earned money.
Is it worth it attending one of these to get an insight into it?
And is it really free as they say?

Get a demo account, you can get one for FOREX or JSE just google a bit.

I played around with the FOREX demo account for quite a while and came to the conclusion that being forced to trade daily results in only the broker consistently making money its just gambling.

I recently started a JSE account on FIN24.co.za and its much more to my liking, I will be getting a real account through absa and start trading for real next year.

 

[MKFrost]

Save your money. Go to BabyPips and work through their online 'school'. Its free and it will tell you everything you need to know. Once done get onto a demo account of some kind.

Do not even consider going live unless you are able to be consistently profitable for several months. Many will say go live as quickly as possible i.e. use real money. I tend to agree as this brings the emotions in play which are absent when trading demo's. However, if you do go this route make sure you set a firm and fixed budget for what you can and am willing to lose.

Do not, I repeat, do not go past this point. I have seen many people lose everything, this is more addictive than gambling in my opinion. You can either do it or you cannot, this business is not for everybody.

Many figures are thrown around but from experience I tend to agree that only around 5% of traders actually make it meaning they actually make a proper living from it.

 

[IceQB]

Thanks will look at it tonight.
Always been sceptical about online trading.
I am prepared to use a set amount of money on this "project" and see how it works out.

 

[MKFrost]

Thanks will look at it tonight.
Always been sceptical about online trading.
I am prepared to use a set amount of money on this "project" and see how it works out.

Don't get me wrong, it is incredibly rewarding, just make sure that you always remain realistic about what it is you are doing. Many get caught up in the quick easy profits and it becomes like a psychological high. People honestly get addicted to it, worse than gambling I think, and before they know it they are thousands down.

Also, there are thousands of sites dealing with forex and the like. Do not believe anything unless you have tested and tried it yourself and never ever give your money to somebody else to lose for you, rather do it yourself and learn from it.

In as far as retail brokers are concerned, go look at Pepperstone. In my opinion currently the best retail broker for accounts under US$100,000. They also offer a platinum service for larger accounts but you will be better off at other institutional brokers who will offer you far better terms and liquidity if you are looking at putting more than US$250k towards a trading account.

 

[IceQB]

I think I am being realistic in my approach & don't expect to become an instant "millionaire".
Want to learn the ins n outs before going out and losing or make money.
And the amount you mentioned above are definitely not in my league or at least what I am willing to spend on this now.
Maybe with time and more experience and knowledge I would get there.
Thanks, your input is duly noted.