> so, you give them "investment" options like "Is the yen going to trade up against the dollar?"
Even worse( or better depending on your perspective ), these "investments" allow you to leverage 100:1 or even 500:1 and while stock market close at 4pm, FX trading is 24/7.
The only ones who can make consistent money are those with insider information. The big banks and their currency trading arms with ties to central banks.
Otherwise, you either get real lucky and win big and never trade FX again or you will get whittled down until you lose everything or you hit a bad spot and lose everything in a second.
I know people who went into FX trading and they couldn't leave their homes because they were monitoring pips. It became an obsession and they all eventually gave up after losing money.
But if you are lucky and at the right place at the right time, you would retire in a few seconds. Like the swiss franc move a few years ago. If you were lucky or "well-informed" and bet the right side, that huge move could have turned your thousands into millions. But those kinds of moves are rare and unexpected.
Another problem is that if you are doing your trading/speculation in the modern "bucket shops" you run into the very same problem Jesse Livermore had in the 1890s, you get banned from the premises and your profits taken away.
There are hundreds of stories of people actually getting lucky/good in modern FX bucket shops and not getting all of the money.
Even worse( or better depending on your perspective ), these "investments" allow you to leverage 100:1 or even 500:1 and while stock market close at 4pm, FX trading is 24/7.
The only ones who can make consistent money are those with insider information. The big banks and their currency trading arms with ties to central banks.
Otherwise, you either get real lucky and win big and never trade FX again or you will get whittled down until you lose everything or you hit a bad spot and lose everything in a second.
I know people who went into FX trading and they couldn't leave their homes because they were monitoring pips. It became an obsession and they all eventually gave up after losing money.
But if you are lucky and at the right place at the right time, you would retire in a few seconds. Like the swiss franc move a few years ago. If you were lucky or "well-informed" and bet the right side, that huge move could have turned your thousands into millions. But those kinds of moves are rare and unexpected.