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August 10 2013

Q&A: Forex seems to be more difficult to profit than the stock market? – goldsenze

Q: Forex seems to be more difficult to profit than the stock market?

I trade stocks regularly but was wondering if anyone found Forex more appealing than trading the DOW, NYSE or NASDAQ? Also, has anyone profited more than they thought they would? Please no answers trying to sell me your proven methods. Thanks.
Poloman1690, thank you for your honest answer and the link.

Goldsenze Answer:

Tough question. Pretty much you are just speculating which way the currency will go without any true analysis.

Go ahead and give me the thumbs down but there are no earnings or financial statements to make an educated guess. Sure there will be some who make money at this moment but who knows about the future. Someone could think that selling crack is a great investment but they will get burnt at some point.

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April 01 2013

Q&A: I would like to be buying currencies and selling them at a profit to other people. Where do I buy online?

forex trading

FAQ: I would like to be buying currencies and selling them at a profit to other people. Where do I buy online?

I would like to buy currencies from people outside my country online. Then I sell to people in my country cheaper than what the banks and forex charge them. But at a profit. How do I go about this? Where do I start. How does this thing of online forex trading work? How much could I loose?

goldsenze.com Answer:

1st you need to register a company. Then, you need to arrange a credit line with a broker so you can buy currency – this will require a deposit of at least £50k.. You would then need to rent an office, buy a computer, telephone line and fax machine. Then you would need to find clients who need your service.

5 years ago you would’ve been on to a winner, however this market is now saturated with currency brokers and competition is huge. good luck!

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