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So I thought it was about time I checked out the Forex market just to see if I could realistically make any money from it. Forex is the foreign currency exchange market which is widely regarded as very volatile and risky. I came across the FXCM Power course which at the time was on sale for $20. I thought what the heck and gave it a shot. The online ten day course is actually quite good and worth the twenty bucks I paid. I found out all about forex, how it works, the strategies, and the risks. The course is forum-based, so you basically read through a message board type forum which is split into several chapters, one for each day. You can watch videos, take quiz exams and ask the instructors questions. Yes, there are real instructors there watching the students progress throughout the course. You also get trial access to a test forex trading account, so you can actually make trades on the forex market practicing your newly acquired skills. So how did I get on with it? Well, if the course was supposed to convince me to sign up for a real FXCM account, then I guess it failed. But it taught me a lot about the forex market and in the end I have decided I will not be pursuing a forex venture, sorry I'm just being honest I don't think it's for me. Perhaps I was not patient enough, perhaps the markets were just too random whenever I looked at them, but it seemed like a big gamble to me. As far as I could tell, you could take all the analysis, strategies and techniques that can fit inside your head. But at the end of the day, you are looking at a candlestick on a chart. Let's say the US/UK market. At any point in time, that candle will either go up (a strengthening dollar against the pound) or down (a weakening dollar against a strengthening pound). Nobody really knows which way the candle will go at any point in time. So you are really making a 50-50 bet in the final analysis. Even in a long trend (a slope going down or up) short term trades are always risky, if you zoom right into the chart to say every 15 minutes, the candles are usually going up and down a bit like the British weather. Long term trades are also very risky, because here is the thing. You don't just buy say 10 UK pounds to trade with against the dollar thinking that the worse case scenario means you will only lose £10. Oh no, it does not work like that. You have to buy say 10 'pips'. If the market goes your way, yes you can make a fortune but if it goes the wrong way those 10 pips can get bigger and bigger sucking all the money out of your balance - which will be at least a few thousand


dollars). So I've made my decision about forex, but it's only my opinion.

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