Comment posted in this blog:
t is true that FX trading is best to left to professional traders from banks and hedge funds. it is almost impossible for retail trader to make money in long run. According to CEO of FXCM, one of the few largest US based retail FX broker, he said he will be surprised if there are more than 5%of the retail FX traders can make money in long run.
For those ISO/SME Awards, it is for show only, so long a company afford to pay, it is not very difficult to get it and it doesn't guarantee the trading strategy is a successful. Did you ever heard Warren Buffet goes to apply ISO???
Don't easily believe the story from those school marketer, I don't care how fast the coach turns his personal accout from 1K to 1 million, how I know how many accounts he got margin call before getting a profitable one, and almost certainly , the super high returns is link to over-leveraging, just likes someone said a fundamental news suddenly came up in the middle of the night from US/Europe is good enough to act on.
t is true that FX trading is best to left to professional traders from banks and hedge funds. it is almost impossible for retail trader to make money in long run. According to CEO of FXCM, one of the few largest US based retail FX broker, he said he will be surprised if there are more than 5%of the retail FX traders can make money in long run.
For those ISO/SME Awards, it is for show only, so long a company afford to pay, it is not very difficult to get it and it doesn't guarantee the trading strategy is a successful. Did you ever heard Warren Buffet goes to apply ISO???
Don't easily believe the story from those school marketer, I don't care how fast the coach turns his personal accout from 1K to 1 million, how I know how many accounts he got margin call before getting a profitable one, and almost certainly , the super high returns is link to over-leveraging, just likes someone said a fundamental news suddenly came up in the middle of the night from US/Europe is good enough to act on.
8 comments:
If those Forex Gurus can make as much money as they claim, I am wodering why they bother to spend to teach others? The answer is very simple, collecting tuition fees is a lot more lucrative than trading.
I attended a stock trading talk, the instructor was very frank. He said if he could be 100% sure, we would not find him giving the talk.
I have attended a few FX seminars and I like the honesty of Mr. Yeo Keong Hee, one of the top student at NUS similar to Adam Khoo. He put the fact to us fairly i.e. his success rate is 70% plus lots of hardwork, success and failures to reach there. No Guaranteed Formula. Need to be discipline and have a game plan with solid discipline. I attended free seminars but never enrol as I believe I have to overcome my own psychological challenges before embarking on this form of "gambling" or risk taking of my life saving. Thanks to the government foreign workers/talents policy, I am one of the PMET who are out of work since 2007 and also one of the Minibond victim back in 2008. So to get involve in Forex, do ensure you use your excess cash and do not borrow from the bank as there is no guarantee. Even a self-made expert only hits 70% successrate. This game is not for the light hearted and if you do not know what you are doing, don't try. Money moves fast using Leverage. Win big and lose big fast. Thanks to the govt, you do read about Multi-millionaires losing big in the first year of operation of MBS/RWS. This is where Sgp Casinos profit comes from. Treat VVIP like king and they gambled their life away. Forex marketing is the same. In the Seminar, you are tempted again and again with expert promise to share account with you, selling you proven software to identify buy/sell opportunity, free labtop, live trade etc. Bottom line is you must understand yourself and the rules before getting involve. If you have no stomach for it or using borrowed money, don't try.
If he has the secrets why is he sharing with the rest? The truth is forex is risky and collecting fees from gullible and greedy students is less risky if not risk free.
If he or she can make so much why not spend his time and create his wealth a few millions times?
It is not.
The only sure win strategies are running a business that has:
A) Monopoly
B) Unique product that everyone wants or needs
Examples of monopoly:
LTA's COE for vehicles
Casinos
Singapore Pools
SMRT
Changi Airport
Forex trading is not a monopoly
and neither is the stock market.
If you own the only factory producing noodles, you will be a zillionaire.
Similarly, I also have this experience at one of SIAS's seminars.
One honest answer coming from one Head of Research from XXX Securities at the investment seminar after been scolded by an elderly man for causing him to lose money after following her calls for some years.
She replied something like this: "If I really know; I won't be standing here giving stock views."
Laughter by audiences were heard!
I heard this guy who cheated money by teaching ppl to do option trading will now be organizing the Diner en Blanc in SG. How com these cheaters can get away in this country. Really unbelievable!
http://www.ripoffreport.com/seminar-programs/freely-business-scho/freely-business-school-by-clem-fbqb8.htm
chubbyhubby.net/.../diner-en-blanc-singapore-a-qa-with-clemen-chia...
Prior to hiring mentor or proceeding with the additional steps to polish your skills of fx trade, there are some prerequisites.
Online fx trading | fx trading
True. There are many bogus trainer out who are just out to earn tuition money. And there are also real retail traders out there who are earning real money. It's easier to be skeptical or denounce trading with the claims that 95% fails in trading. Truth is, there are more workers than CEOs but that does not mean you cannot be one. Just as there are 95% losers and 5% winners does not mean you cannot be the 5%. Profitable trading requires time, effort and dedication. Success in any line requires utmost determination. There are no shortcuts to success. Learning from forex courses will only shortcut the learning process.
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