₦airaland Forum

I would like to get info on the risk involved in forex trading, because the person that sold me the idea, has a very sweet mouth (lol) so i did not ask him the risk involved, decided to find it on my own. When i checked Google for the risk involved, the answers i got was too "theoretical" (leverage risk, interest rate etc.). What i actually want, is real practical exepriences from forex traders. (I hope the MODs dont ban this cos i noticed that there is a ban on forex). Thanks for your anticipated cooperation.

You can become a poor man in 1 minute.

Trading Forex involves substantial risk and you stand a chance of losing your investment but it does not have to be risky. Forex is like driving a car, driving a car involves substantial risk but it is not really risky, instead the driver(trader) is the one who can be considered to be risky or safe.

There are rules in driving like don't drink and drive, obey traffic signs, don't over speed, etc. And so it is with Forex, but the question here is most drivers (traders) don't obey these rules and some get lucky and some are not so they get accident and die or get disfigured (lose their deposited cash or go bankrupt)

I hope this answer can help.

hardworking18:
Trading Forex involves substantial risk and you stand a chance of losing your investment but it does not have to be risky. Forex is like driving a car, driving a car involves substantial risk but it is not really risky, instead the driver(trader) is the one who can be considered to be risky or safe.

There are rules in driving like don't drink and drive, obey traffic signs, don't over speed, etc. And so it is with Forex, but the question here is most drivers (traders) don't obey these rules and some get lucky and some are not so they get accident and die or get disfigured (lose their deposited cash or go bankrupt)

I hope this answer can help.

yes it did.. I like the analogy i think it drove home the point(follow the rules to earn). Although i would also like a little explanation on the rules (if possible).