Why Day Trading Forex Is A Scam

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Why Day Trading Forex is A Scam. In fact the mother of all scams. There is more manipulation in the trillions upon trillions Forex Market than any other market in the world. While there is sufficient liquidity and movement the Forex market is a big boys game.

Everyone from banks, brokers, big financial institutions, hedge funds, and the almighty central banks are involved in the schemes. The central bank of England was caught and fined during an investigation into the manipulation of Forex currency.

One thing to keep in mind is that we would be foolish to believe that we are going to be make a living trading Forex competing against institutions that are worth hundreds of millions. The brokers themselves are also involved in manipulation and they make money off their own customer’s orders.

If you are considering becoming a professional trader then please understand why day trading Forex is a scam. I’ve been in this industry for over 13 years now and have seen it all. The last thing I want to see you do is blow an account or lose your money simply because the odds are stacked against you.

It would be best to learn in other markets other than Forex. Futures and Stocks would be a better choice and would also recommend not to learn on Options or day trade Options for that matter either.

Hope you enjoyed the video on why day trading Forex is a scam. Leave a comment or question here on YouTube and would be happy to respond.

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    1. author

      Josep Albert2 months ago

      How about trading CFDs microlots to start learning and not losing too big amount of money ?

      Reply
    2. author

      sdskaterscom2 months ago

      Hah, trade futures with a $1,000 account! And you warn people about forex?

      Reply
    3. author

      Frank Hernandez2 months ago

      I trade forex not a scam,,with that being said forex it's not for everyone only cause u try an not succeed don't mean it's a scam lol

      Reply
    4. author

      djfingatips12 months ago

      That is why guys Like Michael and Steve teach about stop hunts and the like. . .

      Reply
    5. author

      ChaosBelow2 months ago

      I'm just gonna go rob a bank.

      Reply
    6. author

      IGottaMakeIt2 months ago

      No offense, but it puts your credibility into question when you say forex is manipulated, but then say futures and stocks are the way to go (those markets are manipulated as well). It doesn't look good when you down one market, even though every market is manipulated.

      Reply
    7. author

      Grant Trevor2 months ago

      you can trade forex futures

      Reply
    8. author

      Anthony Arline2 months ago

      What are futures and how do you trade them ?

      Reply
    9. author

      Chris man2 months ago

      its called "slippage dude" not the broker manipulating your entry points. the faster and more volatile the more slippage you see

      Reply
    10. author

      Nicholas Cooley2 months ago

      correct. Forex is a scam for retail traders. BUT also wrong. You can trade WITH institutions. Why are you trading AGINST them ;)?  stocks is more manipulated.  A board of fat cats deciding when they release news?? good luck with that.

      Reply
    11. author

      Noah Samuel2 months ago

      Forex Trading is good, I can do it.

      Reply
    12. author

      Christian Ramirez2 months ago

      You should really change the video title. First, you explain how forex its manipulated by TWO groups, but you only explain ONE reason why you think forex is a scam. Second, you stated in the comments below that all markets are being manipulated in some level, one more than the others, so that means that stocks are a scam as well, since that was your ONLY reason why forex is a scam. Third, you also stated that it [forex] can be traded by banks, professionals, etc., but are "too complicated", my question to that is, why do professionals trade forex if it was a scam?
      All markets are complicated to the uneducated person but it can be learned if one wants to achieve that. Ive been trading for a living, i am 22 years of age. I have my own two-story home and car in a very nice neighborhood. At the end of the month i dont have a million dollars but i do have enough to not stress over any bills, emergencies, or adventurous travels. It took a lot of learning and backtesting but i got it done.

      Reply
    13. author

      MrMaier30002 months ago

      Forex is not a scam, I like your vids and stuff but c'mon man. I would never thought a trader like you would say that.. I think binary option is scam….

      Reply
    14. author

      Marcelo Uhlig2 months ago

      What markets are not rigged these days

      Reply
    15. author

      unidentified troll2 months ago

      this is a total bullshit bias opinion

      Reply
    16. author

      Gustavo Diaz Medina2 months ago

      We are you from Marcelo, and i agree with you. :)

      Reply
    17. author

      tvman622 months ago

      BullShit…!!!

      Reply
    18. author

      MrTHL12 months ago

      Who would day trade forex when it's a 24/5 market. Day trading is recipe for disaster.

      Reply
    19. author

      Gregory Alexander2 months ago

      Using the word 'Scam' in title of the video is a marketing word, or click bait as they say. I think the message that he is actually trying to portray is that, for a new investor, forex should be avoided as the forces that you are trading against are a lot stronger than in other markets. Lots of people are able to make money with forex and there is such a thing as an honest broker, but when you are dealing with mass sums of money corruption is never far behind. As with anything, do your due diligence and don't risk your lifestyle.

      Reply
    20. author

      89aneesh2 months ago

      You will not make it in forex if you are a short term trader or scalper use higher time frames to trade no matter what the market is even if your broker gives you a worst price on your order if you are a long term trader it wont hurt you that much.

      Reply

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