FundRobot » Fund Management » Is there anyone who really make a fortune in trading forex or gold?

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Old   #1 (permalink)
 
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Default nyone who really make a fortune in trading forex or gold

I am thinking about making forex or gold trade, you know, the kind of trade with leverage. I am a senior electronic system engineer with adequate software programming experience. I bought two books, Japanese candlesticks technology and MT4 programming.
If I trade with rigid discipline and risk money management, do you think I would win this game?
What kind of person really made a fortune there, or it was abosolutely a trap? I mean as a private investor.
Can you give me some guide? I am now playing a virtual acount, and I know I can copy some signal from those really sucessful trader and from some good website.
So, I need your guide.

Happiness45 is offline   Reply With Quote
Old   #2 (permalink)
 
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Default nyone who really make a fortune in trading forex or gold

No. Precious metals (gold, silver, copper, and platinum), commodities, and FOREX are terrible choices for novice investors. You will literally lose your shirt. Stay away and educate yourself.

Most investors, including experienced investors, cannot beat the overall market. Stick with an index based mutual fund, such as FUSEX (Fidelity Spartan 500 Index Fund), which tracks the S&P 500 Index. You will do far better with a mutual fund.

If you ignore this advice and go for quick gains, prepare to say goodbye to your money.
Mary500 is offline   Reply With Quote
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Old   #3 (permalink)
 
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Default nyone who really make a fortune in trading forex or gold

Some do. But many fail. One needs to learn alot before trading.
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Default nyone who really make a fortune in trading forex or gold

As the other answers indicate, this is a high risk strategy.

The people who have made the most money in trading currency or raw materials have usually been professionals who traded using their customer's money, and then took a cut of the earnings (i.e. hedge fund managers).

Check your local library for some biographies of some of the big guys in that industry; sometimes you can find pearls of wisdom.

Also understand that you're not likely to be able to copy successful trades here. Both the currency and materials markets are distributed, and the big players take care to hide what they're doing from others.
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