Can I make money off of currency exchange?
Jesse Rogers asked:
Share with me your experiences with currency exchange. I’m 16 and I am corn detasseling this summer.. I will make around 1200$ and I don’t want to spend it. I’d rather safely make money off currency exchange. The only problem is I have little experience with the market. It seems like it would be much safer than the stock market but I’m not quite sure. HELP ME OUT!
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Share with me your experiences with currency exchange. I’m 16 and I am corn detasseling this summer.. I will make around 1200$ and I don’t want to spend it. I’d rather safely make money off currency exchange. The only problem is I have little experience with the market. It seems like it would be much safer than the stock market but I’m not quite sure. HELP ME OUT!
August 26th, 2010 at 1:10 am
“Safely” make money with current exchange? You are kidding yourself. Currency trading is extremely risky. Caveat Emptor
August 27th, 2010 at 10:05 pm
hi
you can get professional tips and advice about forex trading at, youll find everything about forex from platforms,softwares,automated trading,best robots, videos and quality literature on how to become a successful trader.you can also watch the video on 3 simple steps to become a forex trader.
i would suggest you start off with a demo nd find a good strategy that works for you before trading live.its very risky.be careful.
best of luck
regards zak ONLINEFOREX.COM
August 29th, 2010 at 6:24 pm
You obviously don’t understand the basics of currency trading or else you wouldn’t say that you think it is safer than the stock market. In currency trading, you could loose all of your money in a matter of seconds.
Currency trading is not exchanging $1,000 for Euros and then a few days later purchasing them back because the US$ moved up by 2 cents. In that case you would lose only a little money each time since spread would be more than the 2 cent profit. Mike
August 31st, 2010 at 10:03 am
I have a lot of respect for you for doing this.I tasseled when I was 15.
To answer your question.Forex is actually the riskiest equity to trade. Its leveraged 100-1.Its ONLY for experienced traders.Stay away from it.You could lose that $1200 in less than a day.
People lose their money in the financial market because they get into things they shouldn’t.Trading is ALL about knowledge.Don’t put reward before education because you’ll only get hurt.People do that all the time.If your as smart as I think you are, you’ll learn about things before you throw your hard earned money into it.
Instead, get your parents to let you use their debit to buy a good book on investing.You need to not get ahead of yourself.You gotta start somewhere.No one starts off with forex unless they do a lot of studying first.Since your so young, you should start with investing.Its easier to learn.Then learn technical analysis.You gotta crawl before you can walk!
If you have any questions or want to know more, send me a message dillinger563
September 1st, 2010 at 9:07 am
i started in the stock market when i was 12 with my parents help, and unfourtunately over the years i have insisted on learning things the hard way and often times it wasnt that much fun. forex is extremely risky, read some books, open an online account (you might need your parents help) and get started in the stock market. leave forex for when you know what you are doing. Johnny Wadd
September 2nd, 2010 at 1:41 pm
The key to succeed in trading the currency pairs is to minimize your risk. To do that you may want to try out a demo account with some virtual money. Although if you do try out a real account, them should not risk any more then 10 percent of your balance. Shaikh J