Can one make money in the forex? What is the difference between the forex and gambling: casino, slot machines or thimblerig? It is this kind of an attitude to the foreign exchange market, its likening to a type of gambling that starts showing itself in analytical news overviews in a number of media. What indeed is forex for Russians and residents of the world’s other countries?
Is there any difference between forex and gambling (casino, slot machines, thimblerig etc)?
Experts of the Analytical Team of the Masterforex-V Trading Academy pointed out that trading in the forex, stock and commodities markets is fundamentally different from gambling in a casino, on slot machines:
1. single prices all over the world. So, exchange rates of all currencies in the world depend on movement of currency pairs in the forex for all banks and foreign exchange outlets of the planet.
2. amounts of money made. Has anyone other than organizers themselves made millions of dollars playing thimblerig or slot machines?
3. lawfulness of stock exchange trading. So, the first Masterforex-V book compares the forex to a casino rather than thimbleriggers and, based on weaknesses of the forex as the ‘global casino’, shows how one can consciously find weaknesses of the market’s computer settings (or those of the forex Game Organizers) and use them to take a profit consciously.
The remaining has a similarity between the forex and any other type of gambling in the world:
* organizers launch any financial game to drive players to losses rather than to wins;
* best customers for the game’s organizers include hot-tempered newbies that have no idea of the game but have come in search of an easy and simple win (no need to learn, look for weak links of the game and consciously take a profit – simply start the game ASAP. What such newbies end up in is clear to everyone);
* best techniques for defeating the gambling organizer are instantaneously banned (so, Masterforex-V books about the forex were at once banned by over 40 brokers worldwide)
* if a player (trader) makes money rather than loses it to a dealing center or a casino – they don’t get their profits as happened in a dozen of dealing centers in Russia Broco, DC forex-mmcis, in-forex.com , Forex Euroclub etc who failed to pay profits made in the market to their traders – students of the Masterforex-V Academy (of course, there are also honest brokers. Otherwise, there would be no millionaires in the forex and stock markets)
Maksim Gan (Santyago), Head of the Volume Analysis Department, explained that operations of the interbank market, like any other, are based on powerful financial flows from large banks, hedge funds and transnational companies who don’t care about individual traders. One needs to understand the logic behind activities of major operators of a certain trading floor before starting to study the forex interbank. This market has a certain structure and regularities which, when taken advantage of, can ensure the trader has a profit. It is important to understand one thing: trading on any trading floor, be it forex, stock or commodities markets, is NOT A GAME – it is a serious occupation that one can learn. There’s a good phrase: “Big money in trading is made by experience…" Experience is routine everyday work on learning and forming successful trading skills rather than advertising prospectuses of numerous dealing centers with ‘the idea of free money’.
How can one avoid losing money in the forex?
Recommendations of experienced traders can be summarized as follows:
* don’t open a real account before you learn to understand every movement of the market and consciously take your profits;
* treat forex and stock exchange trading as a hobby first without working on real money, use free tools to learn rules of the game and a potential occupation in the future (free school for beginner traders);
* after you understand every move of the market and take your profits in the simulated account every month – open a real trading account and deposit an amount that you can afford to lose;
* never borrow money or take a loan to trade in the stock exchange or forex. Like Alexander Elder who lost his first account, made enough money for a new account from his main job and used this money to resume his trading in the stock exchange.
Can anyone learn to successfully trade in the forex and stock exchange?
According to our expert, Yevgeniy Olegovich Antipenko (ATEI), Head of the Faculty of Medium-Term Trading within the Masterforex-V Academy, “anyone can learn to trade profitably in financial markets like anyone can learn to drive a car. However, the outcome will put you down unless you keep to the market rules or traffic rules after the driving courses. For example, I felt more or less comfortable driving a car after I drove it for about a year independently. The same about the market. Do you know the difference between the Academy and the deposit-ruining courses which are rife in the internet? The driving courses (Academy) teach you to reach your goal without an accident along a comfortable road while other ‘instructors’ (DC courses) teach to you hit the first post or ditch you see and your money, naturally, ends up in their account. After all, I hope most people who read this are mature and accountable”.
What do forex brokers have to say?
Eduard Kovalenko, Financial Analyst at Admiral Markets, points out: “Unlike in thimblerig where you have to rely mainly on your luck and play against an experienced conman, the forex market is a logically developing system based on actions of more than just one entity. It is the understanding of these laws and processes that the key to successful trading lies in. That the market seems simple at first sight, but it turns out very hard to see the root of things is another subject. What one needs here is a lot of knowledge, diligence and experience that you often gain through error and financial losses. However, this is all repaid after market laws open up to and eventually allow the inquisitive trader to implement skills they have acquired”.
Vladislav Mitiashyn, Leading Analyst at Fresh Forex. “Everyone can choose to play or not to play thimblerig. Currency exchange, on the other hand, cannot be cancelled: export – import – tourism, as a minimum. Exchange is necessary to buy foreign goods. Goods sold abroad generate foreign currency proceeds for exporters that should be exchanged in order to purchase products, goods, services inside their own country. There are certain regularities in the forex – both fundamental and technical. People whose forex operations are based on a system can make money regularly while it is the conman who makes money by thimblerigging. The Forex is regulated by NFA (US) and FSA (UK). It is much harder to manipulate pricing in the FOREX than in thimblerig" - Vladislav Mitiashyn emphasized.
The Editor’s Office of Market Leader in conjunction with experts of the Masterforex-V Trading Academy holds a survey: should one work in the foreign exchange market, stock or commodities exchange?
* one should never play in the stock exchange nor the casino
* one can and should, if one’s a pro
* newbies are lucky both in the casino and the stock exchange alike
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