Monday, May 7, 2007

Forex danger - trading with gold


Say no to gold.
For more then half year in the forex business I lost nearly $1000 of investment. What I learned from this lessons is, whatever you do, don't trade with gold. It is to risky and it can go up and down uncontrolled. Only trade currencies. But most of all, be sure to try demo with virtually money first!!!

Online broker is the key!
If you go for real money, don't spend in on bad forex online broker, which offers small minimal deposit, like $5 or something. Why? Most like it doesn't use meta trader client. And it have spread which will kill your profit.

Example of bad broker: Marketiva.
Examples of good brokers: NorthFinance - min. deposit $100 and Neuimex min deposit $250.

3 comments:

Anonymous said...

That's an interesting article - I wasn't aware of those possibilities. My domain is not in forex, but web development & advertising.
I will surely take a closer look of recommended brokers.

Regards
Max

Anonymous said...

There is a concerning thread about brokers:
http://nobsnetwork.net/forex-brokers/943-problems-brokers.html

Since I'm not into that, can someone explain what it really means?

Thanks
Max

Coach Thorest said...

Thank you my friend Max, I appreciate your input. As far as I know the whole situatan was caused by uncertain legal status of e-gold.

So far I didn't recieve any explanation from both forex brokers I suggest in here.