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/biz/ - Business & Finance

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2744938 No.2744938 [Reply] [Original]

Brown pill me on Forex biz.

Is it true that's it's basically just as volatile as crypto and easy to make money on?

>> No.2744946

The best and the brightest only make about 15% ggains yearly. It's not easy dude.

>> No.2744958

>>2744938

-Higher fees
-Smaller movements = need for leverage
-Need $25k minimum in your account or they cut you off from trading.
-If you lose everything and then some they can legally bankrupt you and take your property.

Studies have shown that 80% lose money, and only 1-4% make something which could be called a living.

>> No.2744982

>>2744958
So it's basically just a literal scam?

>> No.2744986

>>2744938
You're better off learning to count cards and ripping off Indian Casinos at the blackjack tables.

>> No.2744990

its not a con its just very easy to lose money if you don't know what your doing. The retail brokers offer you huge amounts of money to trade with 1:500! So you can make a lot of money and lose it even easier. Its not a scam its just not as easy as they would like you to think.

>> No.2745003

>>2744938
best beginner tip is probably don't over leverage yourself and do plenty of study. Babypips is probably a good starting if you have zero knowledge

>> No.2745007

the only money in forex is creating an exchange

>> No.2745033

Forex markets are among the biggest and highest volume in the world. Volatility is much lower, and barrier to entry is higher.

When you trade forex, you're trading against banks and hedge funds who have stupid amounts of resources and some of the smartest minds in trading.

When you trade crypto, you're trading against this bunch of retards on /biz.

Where do you think you're more likely to come out ahead?

>> No.2745051

>>2744982

Forex markets were made for institutions to move money between continents, the scalpers only got in later and they "can" make a lot of money but even more easily lose it all.

>> No.2745065
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2745065

>>2744938
It's a scam

Some people make money gambling against casinos too, except in Forex trading it's not called luck it's called "immense skill and dedication" topkek

>> No.2746231

>>2745051
And also for central banks

>> No.2746243
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2746243

>>2744958
>Need $25k minimum in your account or they cut you off from trading.

>> No.2746249

>>2745033
This
Crypto is great right now because it's still so new
Once all the big banks and the smart Jews and Ivy League math graduate analysts get full-time into crypto, the funtimes will be over

>> No.2747303

>>2744958
This is completely BS. The chances of ending up owing money to an exchange are virtually zero. They'll margin call you before that happens. Also you can trade forex with as little as $10 usd. Maybe your thinking about stocks, where you need $20k to DAYTRADE and take advantage of leverage. Don't be such a newfag