dear school and all members i have completed the babypip.com and my earlier posting of scam was inappropriate and inconsiderate of the many people that have been helping me and anyone else on this site it is with my most heart felt sincerity that i appologize for insulting this trade, the traders who are honest not the scam ones. sorry but im a very precautious person by nature. lets just say ive seen alot, man is at his best when things in life are at there worse. joanne.
I’m sure no one minds. Forex is no scam but at the same time there are too many people that think it is a get rich quick scheme. They spend no time prepairing and jump right in to lose their hard earned $$$. Some people even think they can buy the holy grail system and become rich. At that point they call it a scam because they we’re unprepaired. The market does not discriminate and it will take anyones $$$. In my years of studying and learning I’ve encountered many people who said they are doing this for a living but only after countless long hard hours of dedicated preparation. What a sentence :). I personally don’t have the equity to do that so I am content with doing it part time until I can make money in my sleep, build up an account with atleast 3 or 4 times my yearly living expenses, then & only then would I quit my job!
Read “Trading in the Zone” by Mark Douglas and you will see that there is a lot more to trading than just skill. If you don’t have the right mindset than it makes no difference how much skill you have in trading.
As always, there are many people here for you if you have questions!
Topgun
i have spent a lot of time this morning researching forex brokers and different ratings of these brokers so far i have seen some horrid reviews that would make your head spin. i also see the word “slippage” and some other words i dont think one should repeat. does anyone out there recommend an honest, no not honest because i cant even find that and im trying to, but a fair and easy to deal with broker that will not steel your money type. but at the same time wont manipulate any of your entries or exits. is this just one big scam this forex maket for the otc so to speak or is this a legitamate opportunity were one can make an honest living. i am now beginning to wonder, after all there are only so many sites one can go to on the internet. someone please be honest thankyou. i also learned the word bucket shop and i definitely dont want to be any part of that. joanne.
dear school and all members i have completed the babypip.com and my earlier posting of scam was inappropriate and inconsiderate of the many people that have been helping me and anyone else on this site it is with my most heart felt sincerity that i appologize for insulting this trade, the traders who are honest not the scam ones. sorry but im a very precautious person by nature. lets just say ive seen alot, man is at his best when things in life are at there worse. joanne.
Hi Joanne,
May I first congratulate you on your due diligence, the only way to
find information on the 'net is to search everywhere. Do not take
anybody at face value (or word value) but keep digging until you are
satisfied that you have achieved your goal.
As far as Forex trading is concerned you have prepared yourself well
by reading the babypips school. But that is just the start. There is
a lot more work still to be done.
Finding a broker is also a time consuming exercise but you will not go
far wrong by having a good look at Oanda. At this point can I just give
a small example of why to choose Oanda.
They do not have a referral system. (Not sure if you understand this but
a lot of “businesses” on the web pay people to in fact drum up business
for them using referral systems to pay them to say nice things about
them & in return paying them.)
I will repeat Oanda does not have a referral system. The only reason
you will hear good things about Oanda is because we (I obviously use
Oanda) are very happy with them.
It has it’s detractors, everybody does. But just check out who the
detractor is using, have they a referral system?
By the way keep up the good work & keep digging until you find those
answers. :wishes:
dear topgun and daydreamer65, i was not aware of such a referal system in the business world. this would explain how i kept on coming back with the same frequent sites and peoples names and how they played against one another. thankyou for the continued support and advice. please may i run this by you. about slippage it is the only thing im not really grasping i think i am but here goes. your bidding and everyone is and the market goes like in a standstill no one is buying or selling so the brokers have to adjust the price of the pips either increase them or decrease them as much as 20-50 pips to accommodate news update or vital information to cover the influx of bids am i in the right direction here or totally off? please advise i can take critisisum honestly i love input and new knowlegde. thanks joanne.:eek:
Joanne…
Slippage can happen in any market, any broker… Alot of times in Forex, slippage can occur during news, which is why alot of people steer clear during news release times. There are some brokers, I would imagine, that might “cause” slippage to make money. But I’m 100% sure they wont be around long if they continue to do that. No one wants to be with a broker that constantly has slippage. ;o)
Alot of people on Babypips use Oanda, which seems to be a decent broker. I personally like EFXGroup, since they don’t have a dealing desk, and also have ECN they have a narrow spread, but they do charge a commission. Which I’m all for, never really liked the idea of the dealing desk. ;o)
Forex Broker Fraud & Scam Reviews & Ratings is a website I stumbled across back few months ago, that showed reviews of like the Top 30 Forex Brokers, plus and minuses of each one.
Which your not going to be able to ever get a true picture of a Broker by reading such rating sites. Since if a uncompentant trader loses his all his money and just slams the broker for going against him… ;o) But nice to get a general idea of some of the plus and minus. Think it is just best to go small with a new broker, until you have a pretty good gut feeling, “that they are Honest and in Business for the Spread and not your Account Balance.”
Welcome to Babypips… ;o)
thankyou for the wonderful information everyone is so good to share quality information on this site i really do appreciate you. thankyou. joanne.