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My friend from highschool is in what I'm pretty sure is an MLM (it's called forex) and is calling to tell me about it later today. What should I know going into this?
The group is well known enough where you can Google forex MLM and see a fair number of results. On his Snapchat story, he's constantly pushing recruitment for the group, telling people "it's as easy as this to make money!" It checks all the MLM boxes.
That being said, I don't want to ignore his call unless I absolutely have to for safety. What should I know going into the call to protect myself?
What is Forex The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world.
What is Forex and how it works. The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world.
So I was sitting out on my balcony (in an apartment complex) and out comes my upstairs neighbor. He is conducting an “interview” over FaceTime. The “interviewee” was telling him that he had lost his job due to Covid and has struggled to find employment since. So all of a sudden my neighbor goes “okay so this interview is going to go like this: I am going to tell you a little bit about what we do” and talks about how when you exchange 100 dollars of US money, you get more back when you exchange it for euros. Then he goes on this whole thing about how the Foreign Currency Exchange is a lucrative way to make income—whatever. THEN. he says-another way to earn income is to get other people to join the “group chat” (whatever that means) this man literally says “you can have 12 people under you but you don’t have to sign up those twelve people. You sign up three people and those three people sign up three people.” ThAt Is a PyRaMiD. This poor victim fell for the scam and sent my neighbor 200 dollars and now has to pay 176 a month which I guess goes toward trading? Anyways I did a little digging and it’s a company called Forex and I am fairly certain it is not legal.
Hi! Wondering if someone can give me advise to try to help my sister. She is 30 years old, we both still live at home with our senior parents. (65f 73m) My sister had become very distant the past month or so, and due to a previous history of mental health we just tried to support her as much as possible. She went away for the weekend this weekend, and my dear father discovered nearly $30,000 gone from his account over the past few months. We called the bank and were able to confirm they were all sent from our home desktop to the same account. 103 e transfer since June (no, my dad does not check is bank often as we don’t go out due to Covid, and didn’t sign up for online banking, it seems it was done by my sister) He had bounced car and mortgage payments. And the total left in the account was not enough to cover them. The reason I believe this is gambling as she has personally shown me her interest in something called forex in the past few months stating she’s really good at it and always showing me her wins. Prior to this she would bet on sports as well. We had decided as a family to offer her the opportunity to go to a 30 day treatment program. But this has to be voluntary. We understand this is an illness we understand this is not the girl we know. But we just want to help. If you can imagine you are my sister, please tell me what you wish your family would to do help you.
I have a cousin who keeps posting about this shady-ass looking business called Forex. It's (I guess) a stock exchange type business and from her Snap posts, it looks kinda too good to be true (basically between, "signing up is easy", "my team is awesome" , "team calls", ect.. MLM-type language). Does anyone have any past experience with Forex or know about it?
For any of you with Spotify there is a great podcast on there by a guy called Darko Ali. Its called Forex Trading Coach. Even though it says forex, everything he says resonates with Stock trading too. The first couple of episodes are about him and what he went through trying to learn to trade and how he got to where he is today. But after that he goes over simple things such as what time frames to use for your style, risk management, psychology and that sort of thing. Its very motivational I've been listening to it when I've been running to see what the quality of information was and I think its a great resource. Check it out and let me know what you think of it! 👌
After calling out his friend for turning $10k into $36k in two weeks. I got a DM from this “professional”. Then I checked the mega thread and saw Forex is usually an MLM. I didn't say anything about anyone's mom.
What is the difference between the MT4 and MT5 forex trading platforms?
I actually struggled to understand and to forecast the signals in Forex. I Then identified a software program called Forex Profiter which helped me to determine the signals, so that I received more profit using Fx in a smart way. It's not a self-promotion, I cannot stop myself from detailing it's uses because of the profit I obtained from forex profiter. If you wish to learn more about MT5 indicators. Now I'll explain a better solution for your doubts Metatrader 5 uses a programming language called MQL5 as opposed to the MQL4 used by Metatrader 4. The exciting thing about MQL5 is that it allows “black box” programming which, in a nutshell, means that it is easier to program and so will logically be a better framework for users and developers of trading robots and other expert advisors. However, MetaQuotes expanded this capability into MQL4 in 2014, so it is not a difference between the platforms any more, although there is a likelihood that if the language is upgraded at some time in the future, MetaQuotes will not extend any upgrades into MQL4 as well as MQL5 It should be noted that there is no backwards compatibility. Programs written for Metatrader 4 cannot run on Metatrader 5. This can be a serious drawback for traders who were wishing to “upgrade”, and is a key reason why such a change shouldn’t be seen as an upgrade. It is true that Metatrader 5 retains two key programming-related advantages over Metatrader 4. Firstly, its back testing functions where you can test programmed trading strategies execute at a much faster speed, which is a feature that can save you a lot of time if you are the kind of trader who needs to run a large number of back tests. It also allows simultaneous multi-currency pair back testing. Together this can speed up back testing procedures immeasurably.
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Forex-brokers.club Review: 2.1% daily for 15 days and principal back
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The Top Three Important Emotions in Trading Psychology
Image source: Twitter Generally, the main aim of starting a business is to make money. However this is not always the case, sometimes you make some money, sometimes you lose some. Business ventures like forex trading are much more volatile than others. In forex trading, it is much easier to make than to lose money. Whether you make or lose money is determined by something called forex trading psychology. Forex trading psychology can be described as the art of successful forex trading that is concerned with how a trader perceives, interprets and acts on events in the forex market. Simply put, it is the art of learning to manage ones' emotions in such a way that they work to your advantage rather than working against you. Whether you make or lose money entirely depends on how well you can handle your emotions. The forex market is wholly driven and determined by human emotions and thus mastering them will put you in a better position to succeed. Just like the definition of genius which is said to be 99% hard work and 1% luck, business ventures require more of the right attitude and specific mindset. This means that to succeed in any business, you first need to set your mind right even before you can actually indulge in the venture. Trading psychology is about finding the right mindset needed to make money by combining your emotions, their interpretations, actions based on these interpretations, tips, tricks and many other techniques.
Fear is defined as an emotional response triggered by the presence of a perceived threat. Fear is often perceived as an emotion for the weak at heart but it is not. All humans have at least one item or phenomenon that they fear. In forex trading how you handle fear can make the difference between making a few hundred thousand dollars in a few minutes and losing the same in a blink of an eye. It all depends on you mastery of handling fear by carefully recognizing the risks involved, evaluating them and making decisions based on your analysis. In forex trading, many traders hesitate to trade due to the fear of failure which is most likely brought upon by failures in other aspects of their life or failures they may have experienced in the same market. Fear will stop many people from trading or cause them to make wrong or misinformed decisions if they can get past the fear of trying. The fear of losing is also very common among forex traders but if you want to make some money, you need to take risks which may result in either a profit or a loss. Forex trading is also prone to the fear of making mistakes. This will make most people hesitant but a good entrepreneur knows that he needs to learn from his or her mistakes and even those of other people. However, it should be noted that making the same mistakes over and over again is considered foolish. Forex trading psychology is aimed at enabling the trader to take more risks by getting over the fear of committing their hard-earned cash into these investments.
Hope is an emotion that manifests itself as a feeling that promotes the occurrence of a positive outcome of an action that one has taken. In forex trading, everyone is hoping to make some money and not to lose any. Just like any other business venture, forex trading is a game of probability at best -which means that you can either make or lose money. Depending on how you handle this emotion, it can lead to successful trading or to massive losses. One can incur massive losses in the event that he stays at a position for too long in the hope that things will change for the better or that he can make even more money from the situation and end up losing everything. On the other hand, one can make a fortune when your hope of making more money materializes. Thus, forex trading psychology demands that you are able to make hope to work to your advantage. While it is essential for one to hope for the best, it is also essential that one prepares for the worst.
Humans will rarely be satisfied with what they have. There is always that burning desire to get more. At times, this desire may be controllable but can easily get out of control and develop to what we call greed. Greed is a burning desire to possess items or to reap massive gain from a venture. In forex trading, greed will most likely ruin your investment. Returns on forex trading rarely go above 50% of your initial investment. However, due to greed, investors will be frequently tempted into doubling or even tripling their returns. Though this may seem as a good idea, it rarely is. Often, traders will go in very heavy and trade much larger and take more risks in an attempt to make more money. More often than not, this greed-driven endeavors will backfire in your face. Thus, forex trading psychology requires that one maintains a fine balance between the urge to make more money on your investment and greed. These two should be carefully differentiated as the former often produces the desired results while the former will most likely result in massive losses. It is therefore essential that one knows when and how to make the right move in forex trading; preferably one that is not driven by greed.
My roommate of 2 years has recently gotten into something called “forex trading.” She was approached by an acquaintance who made bold claims of making 200-1000 dollars a day doing this kind of trading. She paid $200 to take “classes” from the company that this person works for and is convinced she will be making gobs of money. Something doesn’t add up for me here. I was always told that if it sounds too good to be true...it probably is... I’m too scared to give her advice because I’m not at all informed on the subject. Please enlighten me.
https://preview.redd.it/r7y92ugo5bc41.png?width=600&format=png&auto=webp&s=14c8d7adb31d9d7936b826e6a01ba42e5c7f079e To make trading on the Forex market not only profitable, but also comfortable, many traders use automatic trading systems, or, as they are also called, Forex robots or EA (Expert Advisor). What are EA for? The answer is very simple. If you want to not miss a single opportunity to open or close a profitable transaction, then you need to watch the market around the clock, which no one is able to do. In addition, the trader does not always manage to cope with his emotions, and he makes trading decisions based not on calculation and logic, but on his own feelings - for example, a feeling of excitement or, conversely, excitement. Often such transactions are unprofitable. An Expert Advisor does not have emotions, which means that the human factor can be immediately excluded from trading, which greatly increases the effectiveness of trading. There are many things to consider when choosing the most profitable and result-oriented EA. For example, it is strongly recommended, before choosing an expert advisor, to pay attention to profit / loss, risk / profit, stop-limits and other relevant statistics by conducting a test inside the platform on historical data. Even if you choose an expert advisor with an excellent reputation, there is always a risk of loss, nevertheless. Thus, it is also important to find out the degree of risk that you are willing to take. Before using EAs in real trading, you need to test expert advisor - for example, on a demo account or on archive quotes. Please note that the quality of the history of quotes for different forex brokers is different, which can cause serious discrepancies in the results of testing one expert advisor on accounts from different brokers. This is necessary in order to understand how effective one or another automatic program is and not to risk one’s own means. After all, if it turns out that on a demo account the EA proved to be not the best and did not bring you the expected profit, then you should not use this expert advisor in real trading (or you need to better configure its work). But if you see that the expert advisor is showing good trading results, then it should be noted. Testing an expert advisor before use is a prerequisite for profitable trading.
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Hello. I will really appreciate some very specific help. I moved to Copenhagen last month https://www.reddit.com/Denmark/comments/blza3o/efter_35_%C3%A5r_i_usa_vender_jeg_tilbage_til_danmark/ ) . Things are wonderful, but I have one big problem. Per the explicit recommendation of my banker in California, I brought with me 2 Cashiers Checks to deposit in my new JyskeBank account. Naturally, I found out that they can't accept them. What can I do?! Chase Bank online customer service tells me to mail the checks back to them to the USA, but I am worried that if they get lost in transet, I'll be out of the US$30,000 with no recourse. I called Forex & Western Union, but they don't do it. Anybody has a real solution? And if I decide to go ahead and send the checks in spite the risk - what is the most secure fast service ? Please email me directly [email protected] - I will really appreciate it. Thank you so much!
First time I hear of this MLM called iMarketsLive or IML or IM Academy (their branding seems to be all over the place). They claim to teach people how to trade Forex – a completely legitimate form of investing – but a quick Google search exposes a lot about them real quick.
Forex is not a scam, but there are plenty of scams associated with forex. Scams are a big problem faced by everyone in the forex industry. Forex trading is a real business that can be profitable, but it must be treated as such. It is not a get rich overnight business, no matter what you may read elsewhere. 1st Call Forex - the 1st people you should call for help with forex Helping you obtain fair foreign exchange rates for international money transfers Contact Us 1 Minute Review. IG is a comprehensive forex broker that offers full access to the currency market and support for over 80 currency pairs. The broker only offers forex trading to its U.S.-based ... FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Forex options allow traders to leverage currency moves, limit risk, and create higher potential gains. Option pricing favors the seller so purchase options rarely pay out more than they cost over ...
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