I’m a complete novice, could buying the software help make me money ?
Community Answers
12-10-11
white1827 says:
I work for a large national bank in foreign exchange trading. Individual investors do not generally invest in FX as the returns are highly risky and you can get similar returns with a low cost index fund with MUCH less risk.
Most foreign exchange business is done by large corporations hedging their exposure to currency fluctuations. The only entity really making money in the deal are the traders. Traders quote an exchange rate a small amount higher than what they can get on the market. That small amount is their profit.
Forex trading for consumers is a scam. The only person who makes money is the guy selling you the get rich quick scheme.
Please do not think that buying any software will make you rich!
Softwares are only meant to provide you with data. It is you who have to go through the data, analyse it, so that you can reach an informed decision about what to trade and whether you should trade.
If you think investing in software alone will make you rich from forex, I advise you to steer away.
Most likely, you’ll be worse off.
To survive in forex, you not only need to invest in tools but also in yourself.
You also have to be updated with the latest government policies and analyse the impact on the currencies.
Perhaps, you should consider mutual funds first or at most stocks?
i don’t know the results from those who purchased Vantage Point for the forex market but i know the result of mtpredictor software.. Using the Mtpredictor’s technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we’ll straight away post the signals here in real-time if there’s any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That’s why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..
I work for a large national bank in foreign exchange trading. Individual investors do not generally invest in FX as the returns are highly risky and you can get similar returns with a low cost index fund with MUCH less risk.
Most foreign exchange business is done by large corporations hedging their exposure to currency fluctuations. The only entity really making money in the deal are the traders. Traders quote an exchange rate a small amount higher than what they can get on the market. That small amount is their profit.
Forex trading for consumers is a scam. The only person who makes money is the guy selling you the get rich quick scheme.
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Please do not think that buying any software will make you rich!
Softwares are only meant to provide you with data. It is you who have to go through the data, analyse it, so that you can reach an informed decision about what to trade and whether you should trade.
If you think investing in software alone will make you rich from forex, I advise you to steer away.
Most likely, you’ll be worse off.
To survive in forex, you not only need to invest in tools but also in yourself.
You also have to be updated with the latest government policies and analyse the impact on the currencies.
Perhaps, you should consider mutual funds first or at most stocks?
Was this answer helpful?
LikeDislikei don’t know the results from those who purchased Vantage Point for the forex market but i know the result of mtpredictor software.. Using the Mtpredictor’s technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we’ll straight away post the signals here in real-time if there’s any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That’s why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..
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