Oct 08 2008
FOREX - A Quick Way to Lose Your Money
Let’s talk about Forex for a bit. Trading currency on the Foreign Exchange is, in fact, not a scam. It is a legitimate way to build wealth - IF YOU KNOW WHAT YOU ARE DOING.
If you don’t know what you are doing, you will lose your money, and you will lose it very quickly.
The scam comes in with the web sites that advertise that you only need a small investment, $250.00 or $500.00 to open the door to unlimited wealth and freedom. What these sites don’t tell you is that they skim a portion of your pips off of every transaction. You can very easily gamble away your $250.00 and never see a profit because they all got eaten by the trading house you opened your account with.
These sites do not offer you the real training and expertise to compete with the big traders. Everyone on the foreign exchange is there to make a profit, and believe me the big fish have no qualms about eating chumps for lunch. If you show up with your $250.00 they will happily take it from you and never think twice about it.
If you truly want to get involved, then do yourself a favor and research it extensively. Get a job with a bank that trades on the foreign exchange. Become a professional, and do it the smart way.
Whatever you do, don’t just throw $250.00 at some web site and then fumble your way through it. If you have an extra $250.00, you can just send it to me - I accept Paypal, and I won’t tease you while you lose the money.
