Everyone seems to be jumping on the Forex bandwagon because there is serious money to be made. However, here’s a dirty little secret: the majority of people of people who start trading on the forex (foreign exchange) end up with a loss. Furthermore, a significant portion of these people end up with a HUGE loss.
The problem is that most people are using a technique(s) that is at least a step or two behind. The technique they are using may have worked really well in the past but the Forex changes so rapidly it is difficult to keep up.
If you use Forex software, it is usually designed after a successful Forex strategy that USED TO work well but doesn’t work as well at the time you use it. This problem can be reduced by using forex software that has a really real live human being behind it and is working with a really fast programmer who is updating the software at exceptionally fast and furious speed. However, it’s almost never fast enough. In fact, I know of no software that updates fast enough to work all that well. I do know a few people who use top-rated software and they about break even.
If you’ve studied the Forex strategies written by experts, there’s a good chance that the information was out-dated the moment you received it. Then, by the time you read it and digest it and figure out how to implement it, it’s REALLY outdated!
How do you make money with Forex?
The most honest answers to these questions is to find a way to copy an experienced forex trader in real time. You want them to send you Forex signals in real time (NO DELAYS!) and then you want to copy what they do in real time.
Now, I need to tell you that a quality service like this is as rare as a precious diamond. In fact, I only know of two services that send Forex signals fast enough and from an expert who is fast enough on his feet to constantly adapt the ever-changing foreign exchange – to make it so you can copy what they do and make a lot of money.
If and when you do find a service like this, you need to understand how valuable and rare it really is and hop on that opportunity as quickly as you can because I predict this type of service won’t be around forever.
I also highly recommend that you don’t use real money to test the service but rather sign up for the service and then trade in a demo account for at least a month before you use real money. This will show you how good the signals are and it will help you drastically reduce risk.