[Tresdus]

So I stumbled upon this video on youtube where a girl buys a Audi R8 and a Lamborghini and this is her website:
http://infinite-prosperity.com/amy-sangster

She apparently made that money doing Foreign Exchange Trading. I'd like to know if that actually works / you can make good money with it or if she is overhyping it.

Is anyone else here doing it?

[Nemencine]

^^^^

Hahahahaha. Yes, she is taking a piss out of you. to put it another way. she is bullshitting.

Foreign exchange, otherwise known as forex is the home of apex predators.

It is tougher than stocks. It is the toughest market you can ever traded or invest in.

I trade it of course, more precisely, i swing trade it and I do it successfully. at a later date, i plan on starting a RVF thread with more details about how i go about trading stocks, forex, futures, and options.

There is an insane amount of information and learning curve to even achieve a moderate level of competence in trading forex. It will take you years. You are simply better off focusing on stocks... it has more.... inefficiencies... or better yet, listen to westcoast advice and DCA into indexes.

Anyways, approaching forex trading will take three forms: fundamental analysis, technical analysis, and sentiment analysis. You can bet your life on it, you need to be cognizant of all three. I have seen the best, cleverest, most intelligent geoeconomic fundamental analysis go to shite. I have also seen the most perfect technical analysis setup gets bitchslap senseless. You clearly cannot trade on market psychology alone...

Forex is the deep end of the ocean where the bloodiest, the meanest, and the unforgivingly merciless sharks and predators come to play.

To get into forex. The first thing i will suggest is for you to start here:

http://www.babypips.com/school

Go through the curriculum from top to bottom. Do not skip.

FOR FUNDAMENTAL ANALYSIS of the forex market, i will suggests these introductions:

The starting point will be babypips website on fundamental analysis:

Then there are the books to get you going:

Introductory books on fundamental analysis of the forex market:

Currency Trading and Intermarket analysis by ashraf laidi.

Daytrading the Currency Market by Kathy Lien.

Intermediate fundamental levels:

the secrets of economic indicators by bernard baumohl.

WHEN YOU ARE DONE WITH those books, you will find these websites to be useful:

I like wells fargo weekly economic commentaries: https://www.wellsfargo.com/com/insights/...commentary

Of course, the http://www.tradingeconomics.com/ is indispensable. It catalogs and detail all the economic data from almost every country on this planet.

Here is a site that aggregrates all the economics news from all over the world: http://www.newsnow.co.uk/h/World+News

Also, very important, lest i forget. Read this thread: It shows acutely how fundamental analysis is used in the forex market: http://www.forexfactory.com/showthread.php?t=216097 , I will suggest you read that thread from start to finish. and over again.

FOR TECHNICAL ANALYSIS OF THE FOREX MARKET:

Again, i suggest you start from the babypips website on technical analysis.

Books on technical analysis? You really dont. There is nothing written in any book on technical analysis that you cannot freely find online. If you must, well, maybe this book: Beat the odds in forex trading by igor.

You can see the real live, actual practicalizing of his trading methods on the forexfactory website: http://www.forexfactory.com/showthread.php?t=21887 . Another really good display is on this thread: http://www.forexfactory.com/showthread.php?t=219301

An expert display of technical analysis can be found in these videos:

http://www.youtube.com/user/Yaguex/videos

It is very solid stuff. Make sure you watch all those videos. All 177 of them.

FOR SENTIMENT ANALYSIS.... again, the babypips introduction school on sentiment analysis is the place to start.

This requires using the COT data, using intermarket analysis, Options, Index analysis, correlation analysis, and understanding the role of "hopium" in the marketplace. etc.

You will get there. But the journey is long and hazardous.

regards,

Nemencine

[Sourcecode]

everything said above is right.
some people don't use complex systems or spend weeks analysing.


you can also read
trading in the zone and naked forex.

I dabbled in forex .made a bunch of money without being technical or anything.
I traded in a way that I thought was intuitive. Then I just used my profit to max iras and stock accounts.

for the average person..you will probably lose all your money.

you can choose to to spend ages learning technical details and learning systems. or just trading amounts by day.

either way..it's something you devote full time to.
even with stops and limits..I found my self checking from my phone, tablet, and computer everywhere I went.
And I'm not even an emotional trader.

[jamaicabound]

There is money to be made trading currencies but it's very difficult and very risky, especially since you are allowed to leverage yourself alot which means a small movement could put you in the whole big.

I setup a practice forex account a few years back I think they gave me 20k play money to practice with. My first afternoon I made like 12K. considered giving it a try for real but i think that first time was dumb luck, also once you got real money in the game your emotions change your trading practices.

There's all types of ways to make money in foreign currency. There's an interesting lawsuit going on right now. There's a company that sells "exotic" currencies like the Iraqi Dinar, Indonesian Rupiah, Afghani Dinars, Vietnam Dong, etc. Not sure why they set it up like this but instead of paying a web designer a flat fee they offered a percentage of their business i guess for design as well as seo and online reputation management, advertising, basically everything. The web designers are suing the company, the company are suing the designers, but long story short it came out in court they make 20 million a month profits trading these worthless currencies.

Reason behind this, long story short there's alot of people out there who don't understand economics or financce at all. They are basically buying up all the most crap worthless currencies around where you get like 20,000 for a dollar. THey think some kind of "global curreency reset" is going to happen and these crap currencies are going to be 1:1 with the dollar and they will be rich overnight. Nevermind the fact that investments dont yield 1000% or more returns overnight, if it sounds to good to be true it probably is, that in order for that to happen these shit countires would have to have more money than the rest of the world put together 10x over. None of that crosses these peoples minds.

Anyhow, my point being you can make money trading forex but there's all types of opportunities out there.

http://www.walshlawpllc.com/sterling-cur...nterlcaim/