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Forex Forum → Forex Trading → Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

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Posts: 11

Topic: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

Hi, everyone! We are all here joined by one aim – making money online trading at the most reliable market place.  Many people tend to choose FOREX, when it comes to trading online. But is it really so great and trustworthy as it may seem to be at first glance?

According to Adam Hamilton, a professional independent business analyst, FOREX market has lost its financial free spirit. There are more and more cases that prove it is controlled by a tiny group of brokers.

Don’t you find that it makes almost impossible to predict the future prices? It’s like playing roulette: you never know when you will win. Taking this fact into consideration, there is nothing strange why so many brokers lose their money when trading on FOREX.

That is why, I’m looking for an alternative to Forex. Can you please, share any ideas on this? Thanx a lot!

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

Dear Max
I'm a newbie, I'm still learning many things, but as far as I can see most of the times the question is not to much one of trying to foresee future prices, but that of "catching waves", if you know what I mean. Of course there are many books with patterns and with strategies based on fundamental analysis, and in theory they can be used to forecast prices. If they really work that's another question smile
However, by using solid risk management rules, one might be able to have a profit. I find fishing the right metaphor. It can take long for the fish to bite, and you'll probably have a number of disappointments (read: losses) before that happens, but eventually you'll catch a big fish if you are prepared for that.

Anyway there are many many possible strategies and what I wrote is certainly only a small part of the picture. What I like with FSB is it's capability to generate strategies which, if correctly backtested, could prove successful. I'll share my results as soon as I have them.
Cheers
Nuno

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

Thanx  for your great advice, nquental! However, I consider forex not to be a perfect place to trade. Can you, please, recommend me any other platforms? Thank you!

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

There are many many things to trade such as commodities, indices, ETFs, stocks, futures, options, you name it... I think one should go into something one likes and learn how to trade it.

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

I believe I want to trade shares. Btw, have you heard anything about UInvest. I came across their banner yesterday. Are their trading platform worth trying? Thanx.

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

Why all new users asking for general hints in their first post later answers himself by promoting something?

Probably we have to ban preventively all users with first posts not showing knowledge about FSB / FST.

Next time Max123 mentions this broker, I'll put it in the black list.

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

Popov wrote:

Why all new users asking for general hints in their first post later answers himself by promoting something?

Probably we have to ban preventively all users with first posts not showing knowledge about FSB / FST.

Next time Max123 mentions this broker, I'll put it in the black list.

Preventive banning is the way to go. These hint-askers are starting to come in scales already.

Max seems to be officially working for the broker he mentions, that's a step up at least regarding other spammers big_smile.

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

Max123 wrote:

I believe I want to trade shares. Btw, have you heard anything about UInvest. I came across their banner yesterday. Are their trading platform worth trying? Thanx.

Hey Max..... we see these posts on all sorts of boards, and they are just a silly marketing ploy.

Uinvest is probably a packsack outfit that won't be around next month.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

lol
That was harsh!

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

nquental wrote:

lol
That was harsh!

Was meant to be very direct.

There is a section in the forum that these people can post to and offer their services, many large and reputable brokers post their material, some post every day.

Why beat around the bush, he is fooling himself while trying to fool others.

What he could do.. is ask Popov to set up so that his company can distribute FSB to his clients and have the company name on the software, that would be a great help to him and his clients, far better than a silly promotion.

And if he really wants to promote his company in here, he can ask Popov what it would cost to advertise on the pages.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Doesn’t It Look Like a Big Scam? Is There Any Alternative to Forex?

Of course he could, let's see if he will pick up those ideas.

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