I guess you could consider it biased since they’re making money from it. It’s biased in much the same way that stock traders encourage others to trade stocks, or real estate investors say it’s the best way to make money. They do it, they make money at it, so to them it’s great.
The people who consider this a Gamble, Game or so far as to say Crapshoot/Luckfest are likely people who are scorned from their losses which are likely derived by various mistakes.
I’ve explored many forums when I first started looking at Forex. What I’ve found is that those who call Forex a scam usually jumped into it without learning how it works, then look for someone else to blame for their losses. I once read a post by someone who has lost over $5,000 in a live account, and then proceeded to post the most basic questions that should have been asked before he even started demoing, let alone opening a live account!
Forex is no more a gamble than the futures market or the stock market, both of which make a lot of people a lot of money. Of course, a lot of people lose a lot of money in those venues, too, but the same thing happens in real estate investing. Any market can turn against any investor at any time. That’s why knowledge and discipline are required. Without those two essential elements, it truly is a gamble, since the “trader” has no idea what he/she is doing.
I need to know just how much of this is a game of luck. I know its all predictions/trends so you can’t say theres no luck involved, simply because there is.
See my comments above. Predictions/trends are used in any investment situation, as nobody knows what the future will hold.
I’ve read through alot of crap on various forums saying they make 10% a week consistantly over xx months/years, which if it’s luck, I get people go on runs in other types of markets/games all the time, often giving it all back in the end. How many of these people do exactly that? How many are actually using systems that consistantly yield that high of a return.
High? I guess it depends on who you talk to. Don’t consider it crap just because it falls outside of conventional thinking. I know people who do more than 10% in a week consistently. As with any market, there are good weeks and bad weeks. You have to look long term and use proper money management to be able to ride the bad weeks to take advantage of the good weeks.
I will say, though, that my experience with the Forex forums has shown that the vast majority of posts are pure garbage. Anyone who tells you that they have an automated system to trade that makes them $x guaranteed is full of it. There is no guarantee of profits in Forex anymore than there is in the stock market, real estate, or any other investment. In that sense, every investment is a gamble.
Many people are focused more on having an automated system to trade for them than they are on learning how to trade profitably themselves. Then, when that “system” doesn’t work (because computers can’t adapt to the changing market conditions like we humans can), then blame their broker for their losses.
Along with that, many people are attracted to “trading the news” because of the potential for huge profits in a short time, despite the regular advice of experience traders telling them not to trade during news announcements.
Of course, most lose their money because they don’t understand (or don’t want to believe) that the price can jump rapidly (not just move up rapidly, I mean actually jump from one price to another without touching any prices in between), and they constantly cry that their broker didn’t fill their Stop Loss (some don’t even put one in!).
I read about one “trade” who regular trades the news without a Stop Loss and has now started a monthly fee advisory service!
My next question is, if these people are indeed being honest and not just catching an amazing up swing why arent millions investing in this such as the Forbes 500 list. If someone could consistantly break this market like I keep reading, well it just doesnt make sense because insert billionare here would be employing teams of the best traders to make him/her tons of money, few to none of them actually do so though. (Public tax records indicate this, atleast the ones I researched)
Many people are under the impression that just because some investment makes a lot of money, that every rich person in the world is involved in it. Does that really make sense? That would mean that every rich person is involved in everything that makes them money, and we know that’s not true.
For example, Donald Trump loves real estate development. He made his fortune with that type of investment and it’s obviously very lucrative. So does that mean that every other rich person is involved in real estate development? Obviously not. Why? Because, although it will make them a lot of money, it’s not something that peaks their interest.
For the most part, people invest in things that interest them, not just because it will make them a lot of money.
I am hoping the posts are true and more then a small handful of people are proffitable in this market. Just sounds to good to be true, someone has to lose money for someone to win money or wouldnt the economy crash?
Certainly there are more than a handful of people making money. Otherwise nobody would bother with Forex at all. And, yes, someone has to lose for someone else to win. But, that’s the way with every investment. The stock market is the same. Someone has to lose money on a stock for someone else to make money, and we all know that more than a handful of people make money in the stock market.
Also, keep in mind why the Forex market exists. It’s the market used by countries and world banks to trade their currency. They do not invest billions of their dollars in gambling. There has to be a consistency to their profit and a way to “predict” how the market will move. Of course, they tend to make the market in a sense, but since there are a lot of them, one bank cannot control it alone.
Up until recently only those with some substantial money could get involved and trade with these banks. Now, we small investors can get in on the action, too, and there are many of us making good money at it on a regular basis.
If this is more Luck then Skill, I wish all who read this in it’s entirety the Best of Luck! 
Again, read my comments above.
If you think Forex is pure luck, then you won’t be going near the stock market, commodity futures, or real estate investing.
For that matter, any business venture is a risk, right? If it wasn’t, then banks would be bending over backwards to loan money to new businesses. Of course, we know that they hesitate to do that, requiring massive amounts of paperwork to try and “predict” the future profitability of that business before putting any of their own money into it.
When I first became interested in the Forex market, I read everything I could find and explored almost every forum around. The information overload almost caused me to forget Forex trading, until I found a system that worked. Once that happened, and I started making money consistently, then everything came together and I was able to start applying what I learned to my trading. It all made sense, then, because the stress of trying to organize all that information was relieved.
If you’re interested, PM me and I’ll give you the link for the forum run by the man whose system I use (I don’t think it’s right to post a link to another forum in here). The system produces consistent profits and, yes, they can be well over 10% a week. It depends on several factors, including the amount of money you have to start with, money management techniques, and your personal discipline to follow the “rules” and learn to interpret the “signs”. He provides a lot of help for newbies, too.
Talk to you soon.
Terry
