Expert: Steve Hach - 11/27/2009

Question
Hi, I'd like to ask you the following questions:

1) I want to try Forex trading,
  can I expect some constant profit(even small) taking low risks or it's just gambling as many people say(if so I'd better bet on soccer or american sports);
2) what's the best automated software for Forex trading(does it really help or thy're scam);

Thank you in advance

Answer
Hi Krasimir,


Forex is very difficult and volatile and you can lose all of your capital in a short time.  There is NO constant profit or small risk--if there were, someone would set up and bank of computers to make that trade 24/7 and get very rich.

All investing is gambling in one sense or another, but Forex is some of the riskiest investing there is...

I would remember that there are no get rich quick schemes and that most people will not do well against the pros.

Also, I am not familiar with the forex enough to recommend an automated program and I would be vary wary of any product that promises fool proof results and "constant profits."

Best,

Steve