Why Day Trading Forex Is A Scam | Forex
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Why Day Trading Forex is A Scam. In fact the mother of all scams. There is more manipulation in the trillions upon trillions Forex Market than any other market in the world. While there is sufficient liquidity and movement the Forex market is a big boys game. Everyone from banks, brokers, big financial institutions, hedge funds, and the almighty central banks are involved in the schemes. The central bank of England was caught and fined during an investigation into the manipulation of Forex currency. One thing to keep in mind is that we would be foolish to believe that we are going to be make a living trading Forex competing against institutions that are worth hundreds of millions. The brokers themselves are also involved in manipulation and they make money off their own customer's orders. If you are considering becoming a professional trader then please understand why day trading Forex is a scam. I've been in this industry for over 13 years now and have seen it all. The last thing I want to see you do is blow an account or lose your money simply because the odds are stacked against you. It would be best to learn in other markets other than Forex. Futures and Stocks would be a better choice and would also recommend not to learn on Options or day trade Options for that matter either. Hope you enjoyed the video on why day trading Forex is a scam. Leave a comment or question here on YouTube and would be happy to respond. Get the free day trading guide at: http://bit.ly/dtatrade Don't forget to subscribe http://www.youtube.com/user/DAYTRADINGACADEMY?sub_confirmation=1 Also learn how we day trading and traveling around the world for the last six years at http://wanderingtrader.com. Our WanderingTrader sister site.
Comments
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How about trading CFDs microlots to start learning and not losing too big amount of money ?
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Hah, trade futures with a $1,000 account! And you warn people about forex?
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I trade forex not a scam,,with that being said forex it's not for everyone only cause u try an not succeed don't mean it's a scam lol
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That is why guys Like Michael and Steve teach about stop hunts and the like. . .
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I'm just gonna go rob a bank.
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No offense, but it puts your credibility into question when you say forex is manipulated, but then say futures and stocks are the way to go (those markets are manipulated as well). It doesn't look good when you down one market, even though every market is manipulated.
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you can trade forex futures
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What are futures and how do you trade them ?
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its called "slippage dude" not the broker manipulating your entry points. the faster and more volatile the more slippage you see
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correct. Forex is a scam for retail traders. BUT also wrong. You can trade WITH institutions. Why are you trading AGINST them ;)? stocks is more manipulated. A board of fat cats deciding when they release news?? good luck with that.
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Forex Trading is good, I can do it.
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You should really change the video title. First, you explain how forex its manipulated by TWO groups, but you only explain ONE reason why you think forex is a scam. Second, you stated in the comments below that all markets are being manipulated in some level, one more than the others, so that means that stocks are a scam as well, since that was your ONLY reason why forex is a scam. Third, you also stated that it [forex] can be traded by banks, professionals, etc., but are "too complicated", my question to that is, why do professionals trade forex if it was a scam?
All markets are complicated to the uneducated person but it can be learned if one wants to achieve that. Ive been trading for a living, i am 22 years of age. I have my own two-story home and car in a very nice neighborhood. At the end of the month i dont have a million dollars but i do have enough to not stress over any bills, emergencies, or adventurous travels. It took a lot of learning and backtesting but i got it done. -
Forex is not a scam, I like your vids and stuff but c'mon man. I would never thought a trader like you would say that.. I think binary option is scam....
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What markets are not rigged these days
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this is a total bullshit bias opinion
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We are you from Marcelo, and i agree with you. :)
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BullShit...!!!
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Who would day trade forex when it's a 24/5 market. Day trading is recipe for disaster.
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Using the word 'Scam' in title of the video is a marketing word, or click bait as they say. I think the message that he is actually trying to portray is that, for a new investor, forex should be avoided as the forces that you are trading against are a lot stronger than in other markets. Lots of people are able to make money with forex and there is such a thing as an honest broker, but when you are dealing with mass sums of money corruption is never far behind. As with anything, do your due diligence and don't risk your lifestyle.