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Is Forex Trading a Ponzi Scheme?
IronQuail replied to MildChamp's topic in Scams AlertForex is similar to gambling. It is not a scam because you have no control over the outcome. The only thing you manage is your money, and if you're bad at it, it's game over. We can blame anyone for losing money in the forex market because it is so large, but we all know how it reacts during news events. As a result, you should understand that it is not random; rather, events are random. We never know what news will be released or how the market will react to it. Yes there is no central exchange but u know what we are doing is valuating a currency ourself right even though we are insignificant group how can there be a central exchange when there are so many countries with their own currency. Who will be in charge of it? How will you know if the exchange is benefiting their own country or not? That is why this market is untrustworthy. However, the irony is that brokers almost never place our trades in the interbank market; they are like casinos in that they pocket our losses. Do not believe any broker who claims to be a true ecn or stp. They will argue with you until the end of time, but what they really mean is that they are providing an ecn-like service rather than true ecn. Even today, it is difficult to cheat because we have thousands of charts from various brokers at our disposal. They can manipulate a little but not much. So, for me, it is not at all random; money can also be made; all that is required is strong money management and discipline. I believe there is no system we can follow because the market is too volatile; every day is new and anything can happen. As a result, we must adjust to market conditions on a daily basis.
The "Thinking is Optional" System
IronQuail replied to Duelf's topic in Trading Systems and StrategiesThis is the most exciting part: optional thinking can be put to use! Stop Loss: It's not my problem, it's yours. Profit Objective: Refer to the Stop-Loss Chart.
Falcon FX Review (Mark Hutchinson) (SCAM) (falcontradingguidance)
IronQuail replied to gabelime's topic in Scams AlertWhat is the purpose of a trading academy? It is a legitimate question. When compared to spending £30 on a few well-reviewed books and learning a great deal more about a subject, what makes it more useful to spend £1000 on a course studying about, for example, MACD, RSI, Psychology, and so on?