HN Explorer

Ask HN: Anybody trade forex?

3 points by skream ↗ HN
I'm just getting into forex through trading on a practice account on etoro. Does anyone here do it for real? Is it something that can make a lot of money?

Please post any good resources you have on the subject.

2 comments

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bl4k
the only people making money are the market makers - who are spending a ton of money on marketing to get people like you to think it is easy to make a lot of money

i am amazed by how many people are getting into forex now. it is the new 'get rich quick' scheme - i even heard it advertised on the radio yesterday. the market makers have a 3-5 pip spread which makes it very very difficult to make money. the real trading firms have sophisticated systems to track the forex markets (plus the advantage of information from other markets that affect forex) and they get to pocket the 3-5 pips that you are paying the guy who is putting these ads on the radio. how are you supposed to beat them?