Part II: Complete Guide How Not To Become Forex Fraud Victim

Forex Scam or as it is also called in the English Forex Scam is unfortunately like any idea, with which good money can be earned here in UK! Everywhere there are scammers who want to take off their last shirt with big promises. What is important for you now is how to track down such scams and how to recognize them.

This article is the next one in our seris about forex scam. In the first part I posted a Youtube Video with Anton about unmasking the sharks in forex trading education arena.

Unfortunately, 95 percent of private investors will lose their money in the Forex and FX markets. This is largely due to the lack of proper training and the mispricing of foreign exchange. Often, then, the biggest losses are realized because the aspiring trader does not have his emotions under control or even does not understand why the prices suddenly turn, always at the exact moment the trader is invested.

“Unfortunately, 95 percent of private investors will lose their money in the Forex and FX markets.”

For this reason, it can of course be very easy that my subject to any professional who reveals his secrets, or shows a his guarded trading system or sell totally overpriced trading systems. Of course always with the promise to be able to earn big money.

The scam of such Forex fraudsters is therefore usually always the same. They try to promise the yellow of the egg and are no longer attainable after the sale.

Therefore, you should prefer a good foreign exchange learning course in which you learn the forex fundamentals to avoid some sort of forex scam.

Of course you can easily be dazzled by these promises in the first moment, since every new trader dreams of becoming a millionaire through trading. But to be successful in the trading market, the daytrader always needs the latest news and a working forex strategy so that he can make money through the forex trading.

Unfortunately, there is no “common strategy” for the Forex trade, but a strategy was usually worked hard and leads only by the combination of various factors to the daily profit with foreign exchange transactions.

It is important to know – even if the forex fraudsters want to tell you – that the forex price is not predictable! There are just too many influencing factors that can influence the price. For this reason, it is not important that you have a good hit rate, but how you make the “drum around”. That Your trade management, your risk management or your money management and your psyche.

So do not believe the forex scamers who want to tell you that there is “the holy grail” in forex trading. It does not exist.

If anything else was the case, of course, someone would have already implemented this strategy and would have perfected his system so that it would have ripped off all other Forextrader.

Of course, that does not mean that you can not become a millionaire through Forex trading. That is quite possible! But do not let fraudsters tempt you to buy any system that will make you 100 percent profitable. This is often promised with automatic trading systems that sell for hundreds of dollars or hundreds. Some Forex scammers even push your promises so high that you sell your real estate for several thousand dollars. Unfortunately, such a forex fraud keeps people coming in and losing their hard-earned money.

Of course, there are always new chart patterns that are sold for a lot of money, but take a look behind the scenes. Can such a chart pattern or automatic strategy really be crowned with lasting success? As everywhere else, the circumstances of the foreign exchange market are changing, and previous safe signals are losing their significance and can no longer be traded.

It is also due to the greed of man that if a professional trader has ever developed a system that works, he will not give it so easily out of hand. Because of this it will very rarely be possible to get a system that works without losses.

But what is there are very good basic courses. In these you can learn how to trade and over time you will understand for yourself what changes the courses.

For such a course you come here: Basic course for Daytrading

But the fact is. No matter what trading strategy or system you buy. It will only lead you to success if you understand the basics yourself and do not just blindly follow the system. Because the future can not predict a system. Only the experience and the constant learning leads to success as everywhere.

So what can you do against Forex scams?

So, when you buy a Forex product, or get the most up-to-date insider tips in Forex, you’ll always stay awake, thinking wisely, if the information is real.

Please comment!

PART I: How To Unmask Shady Forex Trading Educators

The famous Anton Kreil from ITMP.COM annihilates forex trading educators.

You must have seen the famous documentary Millionaire Traders with young Anton Kreil on BBC back then.

What do you think about shady forex educators that take your money for a shitty course and run away with your hard earned cash? Bummer ? No, it is your responsibility to check the provider upfront.

Remember if you want to become mega succcesful with trading, you need to follow these simple 3 rules:

  1. Learn
  2. Have a sound trading strategy
  3. Keep emotions calm
  4. Practice trading
  5. Rinse and Repeat

Also I have tried to sum this up in my previous post about forex trading.

Comment below this article please!

Top 3 day trading online platforms that you can try

If you are into day trading then you need to do it in a good online platform. You can get low-cost platforms having great strategy tools to trade. Here are the top day trading online platforms we have selected for you.

TD Ameritrade

This platform has low commissions, so it is good for the beginners. You can get advanced trading tools here. It has a flat rate and there is no requirement to have any minimum balance. You will get extensive investment selection on this platform.

Interactive Brokers

It is a very strong trading platform. It is also suitable for the beginners as the commission is low and no minimum balance is required. It has access to international market and has wide investment offerings. The professionals also find it convenient to use this platform for online trading.

OptionsXpress

For broker assisted trade, you don’t need to pay any fee here. You will get lots of investment choices which make it ideal for both the beginners and the professionals. You will find different tools and educational resources here that will help you in making investment decisions.

All these platforms provide traders with lots of options to trade. The platforms provide tools, charts, and other resources to help the trader make decisions. The biggest advantage of these platforms is that they charge very little commission. If you are not sure which platform to use for your online trading, then choose one of these platforms. You will not be disappointed!

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4 Risks Associated With Online Trading

Many people think online trading is quick and easy. But they are not aware of the dangers associated with it. Online trading can be deceptive and you need to be cautious when trading. Here are some risks associated with online trading.

1. Don’t let your emotions rule you

When investing online you will start making money with small investments at the beginning. This often motivates people to make big investments and lose money in the end. You shouldn’t let your emotions can control. You must study the market and analytics before making your investment decision.

2. The risk with short term trading

You may get tempted to try short term trading, but there are many random elements in it and the stock prices fluctuate too often. You may earn a profit for short period. But if you are looking for long term profit then you shouldn’t invest in short term or day trades. If you trade too frequently, the quality of your investment may decrease.

3. Practice accounts can give you the wrong impression

Many traders start trading with practice accounts before trading real money. It is a good way to earn confidence, but it can give you the wrong impression as well. You will learn a lot of things about online trading this way, but you may end up using a wrong investment approach when trading real.

4. Automated stock-picking system may not give you desired result

Many online investors use the automated stock-picking system for making investment decisions. This system uses past data to give you suggestion and uses a fixed rule that may not always work.

When you do online trading you should be very careful not to fall into these traps. Educate yourself and make wise investment decisions to make good money out of the trade.