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currency market is it a big scam?
What do you guys think about trading in the currency market? I am starting to think that really nobody knows how to make money consistently unless he has inside information. Even if someone makes money for some time after a while the market changes and he is slow to adapt. On the other hand, with the new currency wars the market is manipulated. The currency war between China and the US is a good example. For all these reasons, is it good to assume that it is very unlikely that individuals traders can make money consistently? Is Forex a big scam? Your opinions are highly appreciated
From Money Magazine.
Only 20% of the first year currency traders make money on their first year out.
There are experts out there milking the little guys out of their hard earned money.
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LikeDislikeThe market is a multi-trillion dollar market and can’t be manipulated by a single institution. The thing that will affect it is the monetary policies of the government, which is public information. People trade off of the public information and even if they get the information before the release, they would not be able to manipulate the market price. You have to be really good to make consistent profits.
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LikeDislikeWhy would you expect to consistently make money on a casino game. It is just like any other casino game that is a negative sum game because the house takes part of the cut.
It is unlike the stock market where it can be a win/win situation since it is assumed the market will rise over a long period of time.
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