Thank you so much Tiggy for warning me.
Its just so crazy to see all these people promoting making 6 figures a month in forex & the guy that told me he'll trade for me said i can invest 200$ and ill have the liability to withdraw funds,and send him 50% of profit, i dont believe him much, but i also dont know how can he steal my money...
Do you know what PAMM accounts are in forex? its like a group of ppl who dont know how to trade leave it up to a person to trade for them & give share , is that a scam too or are there international trusted places to sign up for that?
the thing with forex is that its so fast, one doesnt have to wait years to make money, it seems like a very fast process and income is generated majorly in a month or less, ofcourse for pros.
Quote from: soitchi on July 12, 2019, 01:30:54 AMLike @tiggy said, with zero knowledge it's basically gambling, you're walking into a casino not knowing how to play any of the games or what the rules are, no plan, no strategy. If I had someone to trade for me, I don't care if they're licensed or not, if they make however many millions a year, I want to know everything about them before I hand over my money. Gekko said information is the most valuable commodity. So if you want to learn to trade or invest go and learn, it's free but at the same time a professor once told me anyone can write a book, or make a video so...do your due diligence on your sources, you might want to get into the habit of it lol
Mmmm, but sorry for the question, most people who offer to trade ask for the following, me to open an account in a broker, then put the amount i want to invest lets say 200$ , then give him account password to Trade for me, but he mentions he cant withdraw funds, so he cant steal the money.....and he"ll trade using his experience and i should then send him his 50% share via bitcoin or sth like that, seems like the risk i see is him blowing all the money away....dont know what else.....
Quote from: Kenda on July 12, 2019, 04:01:34 PMThank you so much Tiggy for warning me.
Its just so crazy to see all these people promoting making 6 figures a month in forex & the guy that told me he'll trade for me said i can invest 200$ and ill have the liability to withdraw funds,and send him 50% of profit, i dont believe him much, but i also dont know how can he steal my money...
Do you know what PAMM accounts are in forex? its like a group of ppl who dont know how to trade leave it up to a person to trade for them & give share , is that a scam too or are there international trusted places to sign up for that?
the thing with forex is that its so fast, one doesnt have to wait years to make money, it seems like a very fast process and income is generated majorly in a month or less, ofcourse for pros.
Forex and bitcoin are totally different things. I was talking about bitcoin. Forex is the avenue by which currencies are exchanged. I am not a trader and can't give you specific advice on currency trading, since I don't do that myself. However, the chance of you turning your $200 into any major amount (while paying this person a 50% commission) is very very slim (in my opinion practically none). Whatever you do, please do not put in any amount you are not willing to lose. This is lesson number 1 in anything that is money related. Second, if you choose to participate via a 3rd party trader, please do more research on who this person is (whether he is trading as part of a firm or on his own) and perhaps ask about his strategy and the returns he has generated for his clients in the past. The 50% commission seems very very high to me (even despite my severely limited knowledge of currency trading). If you are serious about currency trading and let's say you have a few thousand $ to put in (again assuming you will not be financially devastated if you lose the money) then do some research as to what's available in the market. You may find other trading firms that take less commission and that have similar or better results than this trader you speak of. Always perform your own individual research so that you don't feel guilty and duped later if things don't work out the way you had hoped. Sorry that I can't be of more help regarding currency trading, perhaps other members here can give you better recommendations.
Quote from: Kenda on July 12, 2019, 04:05:23 PMMmmm, but sorry for the question, most people who offer to trade ask for the following, me to open an account in a broker, then put the amount i want to invest lets say 200$ , then give him account password to Trade for me, but he mentions he cant withdraw funds, so he cant steal the money.....and he"ll trade using his experience and i should then send him his 50% share via bitcoin or sth like that, seems like the risk i see is him blowing all the money away....dont know what else.....
If your trader is in the US, you only get 50x leverage so with $200 and giving up 50% profits, you'll get about 45 cents a pip on EURUSD for example, some pairs a lot less. If you put $200 into Forex, you may as well play around with it yourself and learn.
Quote from: shottrue on July 12, 2019, 12:24:57 PMSince the last bull market began in March 2009, the S&P 500 has climbed roughly 300 percent, rising from approximately 667 to nearly 2,700, Google Finance data shows.
Bitcoin has been around for far less time, but it has generated immense returns nonetheless. The digital currency came into existence in January 2009.
While price data for bitcoin’s early days are scarce, we do know that the currency’s price has risen from $0.05 to a peak of $19,783 in December 2017, according to the CoinDesk Bitcoin Price Index (BPI). This represents an increase of more than 39,000,000 percent.
300 % vs 39,000 % increase in price since 2009. Yeah bitcoin was so bad to invest in. It's so bad that our President tweeted about it yesterday, and major banks or corporations like Facebook are making their own digital currency.
Good luck moving glacially
Can you show me actual fundamentals and technicals to suggest why anyone should invest in it though? Because it can't possible drop over 70% again right? How do you know bitcoin isn't massively overbought and overvalued? Give me one good reason to hold bitcoin overnight. Hot hands, FOMO and greed is all I see, bet you haven't even considered when to exit your positions because you and most other bitcoin holders are thinking about higher highs that may never happen because, oh, there just isn't enough information to suggest it will. Are you going to panic sell if another crash happens and suck it up and take a small profit? Are you going to hold hoping for higher highs but still end up panic selling at a loss? Or do you not even consider bitcoin dropping?
@tiggy won't need luck, he'll move glacially nicely and safely if he did his due diligence and diversify. If you think 39,000% over a decade is impressive, I can tell you about day traders who's made more than that in far less time, but what's the point if your investment isn't as big? I'll take a million making 300% over a bitcoin at it's cheapest to ATH. Only if you held about 150 bitcoins would be even with that portfolio. At the end of the day it's all about risk management and based on the way you talk about bitcoin shows how much you actually know about investing or trading. Good luck to your bitcoin positions and do yourself a favor and plan an exit strategy incase things don't go the way you imagined it in your head.
Quote from: Kenda on July 12, 2019, 04:01:34 PMThank you so much Tiggy for warning me.
Its just so crazy to see all these people promoting making 6 figures a month in forex & the guy that told me he'll trade for me said i can invest 200$ and ill have the liability to withdraw funds,and send him 50% of profit, i dont believe him much, but i also dont know how can he steal my money...
Do you know what PAMM accounts are in forex? its like a group of ppl who dont know how to trade leave it up to a person to trade for them & give share , is that a scam too or are there international trusted places to sign up for that?
the thing with forex is that its so fast, one doesnt have to wait years to make money, it seems like a very fast process and income is generated majorly in a month or less, ofcourse for pros.
I find Forex slow and I doubt anyone who can make 6 figures on Forex would trade another person's money if all they're bringing to the table is $200. And to make that much a month on Forex, you'd probably need several big accounts.
Quote from: tiggy on July 12, 2019, 04:31:33 PMForex and bitcoin are totally different things. I was talking about bitcoin. Forex is the avenue by which currencies are exchanged. I am not a trader and can't give you specific advice on currency trading, since I don't do that myself. However, the chance of you turning your $200 into any major amount (while paying this person a 50% commission) is very very slim (in my opinion practically none). Whatever you do, please do not put in any amount you are not willing to lose. This is lesson number 1 in anything that is money related. Second, if you choose to participate via a 3rd party trader, please do more research on who this person is (whether he is trading as part of a firm or on his own) and perhaps ask about his strategy and the returns he has generated for his clients in the past. The 50% commission seems very very high to me (even despite my severely limited knowledge of currency trading). If you are serious about currency trading and let's say you have a few thousand $ to put in (again assuming you will not be financially devastated if you lose the money) then do some research as to what's available in the market. You may find other trading firms that take less commission and that have similar or better results than this trader you speak of. Always perform your own individual research so that you don't feel guilty and duped later if things don't work out the way you had hoped. Sorry that I can't be of more help regarding currency trading, perhaps other members here can give you better recommendations.
Yeah i also thought 50% is alot! But he knows i cant trade, and dont wanna copy paste him because i dont even know how, so he would do it all....but again he may or may not scam me, so thats why i said 200$.
I just find it extremely wierd how tons of ppl are promoting makin 100k$ a month or sum from forex/bitcoin and reality is very different than that! Like just how! Trading is very very complicated and takes years & years of just studying it.
I was like talking to a girl who claims she’s self taught and she told me she started making really big money like 6figures plus after 2 years of trading , like what fairyland is she living in!
Quote from: soitchi on July 12, 2019, 09:57:08 PMI find Forex slow and I doubt anyone who can make 6 figures on Forex would trade another person's money if all they're bringing to the table is $200. And to make that much a month on Forex, you'd probably need several big accounts.
Yeah, alot of ppl show highlights but never what they’re really doing.
But i got overwhelmed by the amount of ppl promoting trading even regular broke university kids, like how does their brain even understand it that fast, its complicated as hell.
But i think Bitcoin is much harder so thats why most of ppl do forex
Quote from: Kenda on July 13, 2019, 09:15:58 PMYeah, alot of ppl show highlights but never what they’re really doing.
But i got overwhelmed by the amount of ppl promoting trading even regular broke university kids, like how does their brain even understand it that fast, its complicated as hell.
But i think Bitcoin is much harder so thats why most of ppl do forex
Quote from: Kenda on July 13, 2019, 09:13:19 PMYeah i also thought 50% is alot! But he knows i cant trade, and dont wanna copy paste him because i dont even know how, so he would do it all....but again he may or may not scam me, so thats why i said 200$.
I just find it extremely wierd how tons of ppl are promoting makin 100k$ a month or sum from forex/bitcoin and reality is very different than that! Like just how! Trading is very very complicated and takes years & years of just studying it.
I was like talking to a girl who claims she’s self taught and she told me she started making really big money like 6figures plus after 2 years of trading , like what fairyland is she living in!
I can believe 6 figures a year but again if we're talking 6 figures a month you'd probably need several big accounts. Retail brokers won't let you move enough lots to make that on one account so we're talking trading on a few 6 figure accounts on Forex at max leverage and trading 100% of the accounts which is risky unless those accounts make up only 1-2% of their net. A flash crash could have them down hundreds of thousands in minutes, stop losses might not even get triggered nor margin call. And Forex is slow because it can spend days consolidating and when you have to utilize that much money you'd probably have to accumulate your positions and wait for big moves over weeks.
Just open an account and trade a hundred or two, and learn yourself. It's pretty chart heavy so you can learn technicals and because it's slow you can learn patience and discipline which is probably the most important thing when it comes to trading and investing. Also you get to unlimited trades, no PDT like the stock market. Along the way you'll also learn about how news affect prices (fundamentals) and take that the stock market when you're ready. There's nothing to learn from bitcoin, you either buy and hold and keep adjusting the stop loss or if there's a way to get something like level 2 quotes on them then you can probably trade them but why trade something that volatile when you can, and there are people who can make 5 figures a day trading only Apple for example.
Soitchi,
Wow thank you so much for the info!
I dont know what trading apple is lol....
Ill send u a direct message inbox.
Quote from: Kenda on July 14, 2019, 09:51:06 AMSoitchi,
Wow thank you so much for the info!
I dont know what trading apple is lol....
Ill send u a direct message inbox.
Apple stock, was just an example.
Yea send a message if you like.
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