Is trading too good to be true?

There is a good article on Sunday Times on 19th Sep to warn people about Forex training courses.  There are too much hype about turning small capital into hundreds of thousand or millions.  It is not impossible, but it won't happen for most if not all people.

Trading is a good skill to pick up regardless you are planning a career change or for additional knowledge to help in your investments or looking for supplementary income. 

The most important fact is that you need to pick up the skills first.  And this requires a lot of learning and training.  It will take nothing less than 5000 hours of practices and trainings with clear objectives.

Daily foreign-exchange turnover hits $4 trillion (Percentage share of the U.S. dollar has continued its slow decline)

FRANKFURT (MarketWatch) -- Daily turnover in the world's foreign-exchange markets has soared to $4 trillion, the Bank for International Settlements said Wednesday. 

In its survey, conducted every three years, the Basel, Switzerland-based BIS found that global turnover in April 2010 was up 20% from $3.3 trillion in April 2007.

Spot transactions led the rise, increasing to $1.5 trillion a day in 2010 from $1 trillion in 2007. Other forex instruments saw turnover rise 7%, for an average daily turnover of $2.5 trillion.
Britain retained its title as the top player in the forex market, with British-based banks accounting for 36.7% of daily turnover, up from 34.6% in 2007.

The United States followed with 18%, while Japan accounted for 6%. Rounding out the top players, Switzerland, Singapore and Hong Kong accounted for 5% each, while Australia-based banks accounted for 4%.

Source from MarketWatch.com
Full article http://www.marketwatch.com/story/daily-currency-trading-turnover-hits-4-trillion-2010-09-01?dist=beforebell

A Market Forecast that says Take Cover

 

Published: Sunday, 4 Jul 2010 | 4:51 PM ET

By: Jeff Sommer 

A Market Forecast that says Take Cover