i want to make my first post here, i have an intermediate experience in the market five years till now , stopped it since 2 years ago , i have a question about the forex maket and what goodness does it give back to society, if i am a farmer i get paid for providing food to people, if i work in a car factory i get paid for shortening the distances, if i work in a tv i would be entertaining people etc.
now if you got what i am implying here , i am the kind of people who beleive that money is a tool not a goal itself , what does trading forex as a full time job have a good impact on society , and what is a forex company producing to people .
We pay taxes on our profit! If it’s your fulltime job, odds are you’re paying significantly high taxes. Yes our job may not directly put a smile on a child’s face, but it’ll help pay for his education.
Good question!! I think forex traders have a great opportunity to impact society for the better.
Most people spend 40+ hours per week earning a living, but forex traders only need to “work” a couple hours per week. That leaves plenty of time for you to do volunteer work in your community!!
That nets out because you’re profits are coming from someone else’s loss.
The benefit forex traders provide is that they increase liquidity to the market thereby facilitating easier, lower cost global trade and capital flows.
I can’t help but picture some recently deceased guy standing in front of Heaven being asked by St. Peter, “What did you do with your life?”
He looks around a little while then says, “I increased liquidity to the market thereby facilitating easier, lower cost global trade and capital flows.”
Nothing against Rhodytrader’s answer, it was a good one… That’s just what popped into my head when I read it.
well i was first introduced to the market after a commercial on the radio about earning 500$ every month for placing 300$ in a live account for 5 minutes work a day, and an invitation to a seminar explaining the steps and it’s an introduction to a 3 days course , i was 19 back then my first year in collage and in needed the money to help paying my tuition , and that was tempting a that time , they asked 750 $ for the course + we’ll get 3 month paid signals from FXCM, it seemed very reasonable to me at that time and i had to secure the money for the course , i was able to gather 250 $ from her and there , I was still short on the other 500 $ , so i started convincing my dad about it , i didn’t bother doing it with my mom because she considers it gambling :rolleyes: , i attended the course which was held in Beirut and was away from my town , i stayed in my aunts house saying to her and mom that i am attending a university course . In the course they give an overall look about the forex market and some highlights about fundamental and technical analysis (RSI EVENING STAR THE HAMMER etc. ) no one cared because we all wanted to learn about following the signals ( it’s not that hard ) .
They said that we will lose and we will win but since signals have a 75 % overall winning stream for every 10 trades about 6 -7 will be victorious :p, after all the instructor said he worked on wall street and received a half a million dollars education in Harvard , anyway imagine the whole place was full i can say about 80 students (imagine 750$ * 80 every week ) anyway after placing the additional 300 $ into live account ( i convinced my poor father to give them to me filling him with dreams of a prosper future ) i started trading live from the beginning ( no demo ), the signals as you know can come at any time during the day might be during night during morning depending on which market is open , the big problem is that i had to trade all those signals with no exception and since there is like 5-6 signals a day on average , i was able to catch the half of them, the other half might occur during my sleeping time or while attending a class so that the end of the first month my account was wiped out and this while trading on only 1 lot per trade , another problem was that i had to follow the trade i took until they send another stop loss or take profit signal or to buy a new lot for the same pair i took , they promised about instant sms but nothing .
anyway even i wouldn’t wake in the middle of the night or miss class for a signal , it was a huge issue of time management. My project failed sadly , even many of those whom i met in the course also got their accounts wiped out , i later convinced a shoe store owner to trade in forex , he loved it, he had the money i had the knowledge so i made a new account for him and we traded based on sentiment and news , believe me it was better then those darn signals , we won the first months then we lost big time but we went back and we won several trades and we managed to make a very good winning stream but he started to play on his own , then i left the guy on his own and then went back several times later with some losses and wins but never gave it seriousness
I love forex a lot and I want take it a seriously in my life but I am waiting for some free time and some dispensable money , thanks to school pips I have a better idea now about what is the way to the market ,no fake commercials can fool me like before
