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Q&A: What kind of news should I start reading in order to make decisions about forex trading?

Question by biggs: What kind of news should I start reading in order to make decisions about forex trading?
I got a check in the mail for $ 40 from my forex account. I blindly put money into eur/usd. So now that I know this is real and one can make money off of it, what kind of news should I start paying attention too? What section of the newspaper should I start reading and things of that nature

Best answer:

Answer by falsi fiable
Stay away!

FOREX is terrible for novice investors. 75% of all investors lose nearly their entire stake within the first few months because the game is stacked. The FOREX trading company sets exchange rates, not the open market. You’re playing against the house. Due to the minimum lot sizes (usually several thousand dollars each), you MUST leverage your investment of several hundred and when the currency goes down by a tiny fraction, the company forces sale of your investment before you have a chance to recoup losses in order to meet the margin call. Stay away.

Don’t take my word on it:

http://discussions.latimes.com/20/lanews/la-fi-amateur-currency-trading-20110403/10

But if you still insist, I’m betting 3 to 1 that you lose your entire investment within 120 days.

Know better? Leave your own answer in the comments!

5 comments - What do you think?
Posted by JasonRocker - May 28, 2012 at 10:45 pm

Categories: Forex Questions   Tags: , , , , , , , , ,