FOREX TRADING???

There are few out in market who charge something around £1000 to teach the strategy for making money.

That's right. It's just over £1000 (£1199.99 I think), and then you get told how to make money (for ever more in the most liquid financial markets in the world).

Contrarian: Is this course worth doing?
Have you done?

Thanks

Do not part with a single pound. These courses are simply scams.

Visit this website:

www. babypips. com

That will teach you just as much as you will ever learn through one of those courses.

Just like betfair, there are good methods for making money, but the people who know them do not share them. Why would they? If the system was that good, then they wouldn't need to sell it, they would be making millions just using it themselves.

The only way you can make money is through your own hard work and dedication. Visit that website, learn the basics, then get as much exposure to the markets as possible. Start by trading a demo account, and backtest any strategies you think up. Once you have found something that seems to be consistently profitable, then you can go into a live market.

Good luck.

Thanks whippet

ABV,

I'm sorry - I was being facetious.

There's plenty of free stuff around.

Babypips gives a decent grounding without going too in-depth.

Forex Factory is a decent site to look for strategies you may be interested in.

If you get stuck let me know and if I'm in a good mood I might point you in the right direction.

APV

I am currently helping a friend get started in FX trading--we re using IG INDEX, not becos they have the tightest spreads but they offer very good seminars(went to 1 last week at heathrow) where they explain the good & bad points in trading,mentioning that at least 65% of day traders will lose their money. they also do on-line seminars if you join(which I think is free to open)plus classes at their offices in London.For a beginner,they have an easy 7 week entry system where you build up your confidence & can trade for as little as 10p /point. They strongly push forward that if you trade without stops,you will fail..
saying that,good luck..[:p]

Forexpeacearmy is an interesting site in my opinion, although the information needs to be taken with a large pinch of salt.

Thank you people. Much Appreciated

"we re using IG INDEX, not becos they have the tightest spreads"

This is absolute rubbish. IG have very poor spreads. Take a look at MB Trading where you can put your own price right into the market yourself. IG is a complete rip-off. Also in the region of 95% of day traders lose money long term, not 65%.

People simply dont seem to accept the fact that Forex is generally a random walk and no one knows anything, unless, like George Soros, they have a well developed insider network.

Please dont waste your time either buying Forex EAs , indicators or ebooks because, as other have said, if any of their systems could make money long term, they'd be doing it themselves and making a bundle, rather than flogging them.

I have my own automated Betfair algorithms that have been profitable over the last three years and d'you think I'd even think about flogging them for a paltry sum like £1000, let alone like many of those EAs or indicators that go for less than £100 ? Of course not.

Forex is a mugs game. Unless you're lucky. Read 'Fooled by randomness' by Taleb.