I would say don't get started, 75% of forex traders lose money, and the 25% who do make money are not the people who learn it part time, later in life trading their own money at low volumes. I bet 1% of the latter make it long term, at best.Just lost my job and am thinking of giving Forex investing a go from home while I look for something new.
Has anybody got any tips on how to get started please? Best courses, books, platforms etc..?
Thanks!
Matched betting used to be great, I used to make about 800 a month off offers, about £300 doing slots and there used to be two very profitable offers - ladbrokes and one other bookie used to do Accra refunds if one leg let you down so you would back a 5 fold at £50 and lay off each round hoping for one to let you down - anyone that does Accas knows that always happens! Sadly long since disappeared but I used to do very well out of that and would save up about 15 £50 bets to punt on Cheltenham. The first time I did Cheltenham I made £4200 between slots and offers and bets and was fuming I didn't take the week off work but my bank was largely depleted by then due to massive exchange liabilities (not money lost, just tied up locking in profit on the lays)I would say don't get started, 75% of forex traders lose money, and the 25% who do make money are not the people who learn it part time, later in life trading their own money at low volumes. I bet 1% of the latter make it long term, at best.
You would already start at a massive disadvantage, due to having the least knowledge and experience and then it gets harder as you also have to try and beat the spreads, just to break even. If you paid for a premium account with tighter spreads then you would get killed by account fees.
Also, the economic conditions are extremely tough for any country, which makes forex even more difficult, and then couple that with finance getting cut tighter and anything else to do with finances being 100% up in the air, it's going to be even harder.
Biggest tip though would be DO NOT GET INVOLVED IN CFD'S.
Seeing as you've posted on a football forum, it would be far, far easier to make money gambling on sport professionally, but even doing that will take years to learn or some incredible skill/ knowledge/ structure.
change the thread title to gambling on forexThanks guys, I'll just focus on getting the next job!
My mate used to clean up on that matched betting, and I always used to forget about it. We must have explained it to about 100 people and only about half understood what the hell was going on.Matched betting used to be great, I used to make about 800 a month off offers, about £300 doing slots and there used to be two very profitable offers - ladbrokes and one other bookie used to do Accra refunds if one leg let you down so you would back a 5 fold at £50 and lay off each round hoping for one to let you down - anyone that does Accas knows that always happens! Sadly long since disappeared but I used to do very well out of that and would save up about 15 £50 bets to punt on Cheltenham. The first time I did Cheltenham I made £4200 between slots and offers and bets and was fuming I didn't take the week off work but my bank was largely depleted by then due to massive exchange liabilities (not money lost, just tied up locking in profit on the lays)
The other was bet365's 2up deal, I think they still do it but the odds are awful compared to the glory days. If team went 2 goals up it was paid out as a winner. So you back the team on 365, lay them on the betting exchange so you have as small a qualifying loss as possible. You could sometimes get £500 on for a couple of quid.
If they went 2 up, the game was on and if they got a goal back you were quid in as could cash out the lay, or you could hold your nerve and hope for a draw in which case you win both bets. Some absolute belters with that one, I remember winning loads when Newcastle played Man Utd and banged 2 goals in while I was in the shower also remember having to go to the bog during a speed awareness course as I had a massive bet on psg. Back then the exchanges had offers of 0% commission but now with commission to pay as well as bad odds it would be very expensive to do and be literal gambling
I've still got a WhatsApp group of all my mates as we used to all hammer it, and a load of people that joined and learned the process and we still keep it but it's more a general chat group now. Match betting still exists but the offers are a lot tighter; great money while it lasted but I don't miss spending my weekend planning out Accra spreadsheets or scouring for close matches for 2-ups either
I don't think football betting or forex trading is something best done between jobs for many obvious reasons
What's wrong with CFD'S?I would say don't get started, 75% of forex traders lose money, and the 25% who do make money are not the people who learn it part time, later in life trading their own money at low volumes. I bet 1% of the latter make it long term, at best.
You would already start at a massive disadvantage, due to having the least knowledge and experience and then it gets harder as you also have to try and beat the spreads, just to break even. If you paid for a premium account with tighter spreads then you would get killed by account fees.
Also, the economic conditions are extremely tough for any country, which makes forex even more difficult, and then couple that with finance getting cut tighter and anything else to do with finances being 100% up in the air, it's going to be even harder.
Biggest tip though would be DO NOT GET INVOLVED IN CFD'S.
Seeing as you've posted on a football forum, it would be far, far easier to make money gambling on sport professionally, but even doing that will take years to learn or some incredible skill/ knowledge/ structure.
What's right with them, for a novice?What's wrong with CFD'S?
You are not wrong it's boring.The trouble is you get fed up of staring at a computer screen.
Then theres the gamblers remorse.
I knew that was going up so why did I not bet bigger ???
You can get wiped out if you leave trades open overnite say.
I tried it , you can make money if you follow the trend, but its not 4 me.