Why Following the “Smart” Money is a Dumb Move



Comments (3)

  1. Melanie Plair says:

    Hello Louis,

    You strongly recommend staying away from FOREX. I agree since I still consider myself a newbie novice investor. So what is the best way for investors like me to “cash in on the booming currency trade”?

    Thank you.

    [Reply]

    David Reply:

    If you need help follow an experienced trader and you may consider a forex robot and do not over trade the currency pairs usually move up and down in a range, follow that range on a daily chart and don’t use more than 5% on any trade risking 2% per trade max.

    [Reply]

  2. Jimmy says:

    FOREX market is not better or worse than any other market. It provides excellent opportunity for fast trading and in return carries risk for fast losses. Chances to make money are not less than in any market. That is the truth. Second or even the first truth is that majority of losses are losses due to flawed and manipulated brokers. They steal the money from small FX players. If FX investor has enough funds and can work directly on FOREX interbank market (not easy of course), than chances to earn are totally different. Again, not because of FOREX itself, but because of fact that technically speaking FOREX provide excellent opportunity, when good principles are put together. Playing with 200$ at bucket shops platform is really fast way to lose 200$, in 75-80% of situations.
    Be smarter and do not do what you do not know, but to say that FOREX is dangerous because of the nature of currency trading sounds foolish and misleading.

    [Reply]

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