@alexslabu23… It’s 2.30am in my TZ atm… it’s a long answer… I’m making a profit week in week out these days… sometimes small other weeks very reasonable… but I have put in 100’s (maybe over 1000) of hours (really) of demoing, reading, watching and research so I can protect my positions or lower my losses with various risk management techniques…
If you read back through my activity…you’ll see that I’m as pessimistic about the whole box and dice of FX as you are and you haven’t even started…90% lose money in this game, and it is a game against your Broker, I would say the odds are even greater…
[quote=“alexslabu23, post:35, topic:136016”]
At first I was pretty enthusiastic about fx but I am begging to think more and more that I won’t be spending a dime on this shit….[/quote]
If you want real nightmares… watch the video below…
My suggestion… read up a lot more on Forex Trading, open a FREE demo and give it a try for yourself, it won’t cost you a cent and the only thing you will lose is time…then you will be able to make a more informed decision of whether it is worth pursuing or a waste of your time and possibly resources…
DON’T pay for any courses or trading education…you have the school here on Babypips, and 1000’s of useful demonstrations, lessons and ideas on Youtube…
The hard part starting out is sifting through what is of real value and what is just a sales pitch at you…
I hope this is of some help to you…
Edit: To answer your original question… yes, you are trading against your broker, not in the open market…
You never own the currencies, you are trading CFD’s (Contracts for Difference) which is effectively betting whether your trade (position) will go up or go down… that’s it.