Korean Job Discussion Forums

[tottenhamtaipeinick]

Ok so I was chatting to some business clients of mine who kept talking about forex and training they got to judge the market falls and gains....

is this a serious way to make good money? I felt it would be a good thing to take on minimal risk to make some money on the side when in Korea...

Does anyone know how long it takes to train urself to use Forex well?

Or any general information worth looking at for a new trader?

[redaxe]

Don't do it.

If you do it, practice a lot first. Do "paper trading," that is, made imaginary "trades" with a realistically affordable amount of imaginary money and keep track of your performance over time to see what your gains or losses would have been. I suggest you practice like this for a few months or even years, and follow the news on currency markets religiously (but learn to smell the BS).

FOREX trading is strictly for live men, not for freshmen.

[Jake_Kim]

As an individual, you'd be engaged in Forex Margin Trading where you basically jack up your trading volume by high leverage. There's no way to tell whether you're good or not ex ante, but FX market is definitely not some average Joe's cash cow either. Only those really good enough (or lucky enough) to survive keep yapping about it - you don't get to hear from the majority who lost their savings and faded away.

[Capo]

if your asking questions here i will tell u flat out don't do it.

I am very active in the stock market, but i won't touch forex. If you want to make money it's a full time job, reports come out daily which will move the markets and they fluctuate along the way, couple that with the leverage used in forex even if you're on a winning trade you are likely to get a margin call and your position closed out at a loss before it bears fruit. Forex is very risky. For someone new to investing you should not be getting into leveraged trades especially in markets you have no idea about. Also with Forex you can end up losing more than you put it, if the markets gaps up or down in the wrong direction you are liable to pay that loss.

[caribmon]

Step 1: become a Forex broker
Step 2: advertise
Step 3: make commissions when your customers trade levered 100:1
Step 4: when all your customers blow their accounts up, revisit step 2.