The Truth About Forex Scams
What makes for Forex scams? A lot of people think that any Forex trading system, informational product or service which fails to make them rich beyond their wildest dreams overnight must necessarily be a scam. These are generally the same people who flee from get-rich-quick scheme to get rich quick scheme, constantly disappointed because they fail to get rich. These people are unwilling to spend ay kind of time or effort learning how to make a product or service work for them and they just accuse them of being Forex scams. There is no such thing as a system which will make you rich overnight. Think about it for a minute ? if there was such a thing, wouldn?t we all be using it already? This system would also not continue to work so well for long ? it?s a matter of elementary economics.
If there is money being made, it is coming from somewhere. Unlike technological innovations which can create wealth through new production models, all currency trading is a zero-sum proposition. If someone is making money, someone else is losing money.
There are always losses being taken by individuals and institutions who are either unaware of the currency exchange market or cannot for one reason or another allow exchange rates to dictate their activities. You wouldn?t put off a vacation because of exchange rates ? and businesses also cannot wait for favorable currency exchange rates to import or export goods. It?s just not a possibility for each and every Forex investor to get rich ? simple as that.
The next time you?re reading through a web forum on the topic of Forex and you?re trying to decide whether or not the negatives you?re reading about a given product or service mean that it is one of the Forex scams, you should think about how things work in the ?real? (offline) world.
Let?s say that you buy a book on Forex trading from your local bookstore. You read the book, apply what you have learned and find that it doesn?t work for you. Maybe the information here is out of date, or it simply didn?t work for you for another reason. You?d probably just chalk it up to a lesson learned and try something else. What you wouldn?t do is to angrily run down to your local bookstore and accuse the owners of operating a scam.
However, if this same bookstore was urging people to pre-order a new book which they were hyping up and you were to show up on the day of sale to find the bookstore had closed up and the owners skipped town; now that would be a scam.
A scam, according to the dictionary, is 'a fraudulent business scheme; a swindle'. A scam involves fraud and an intention to deceive. Scams are illegal. It is not correct to use this word to describe something offered and delivered in good faith.
With the word ?scam? being thrown around so often, it can be hard to know what products are legitimate and which are not ? this makes people, already a little hesitant of buying online even more nervous. In many cases, products are accused of being scams simply because they didn?t work the way a customer expected. You may take their advice and not want to buy these products; after all, not every legitimate product is a winner ? but it would be wrong to call these products or services Forex scams. - 23221
If there is money being made, it is coming from somewhere. Unlike technological innovations which can create wealth through new production models, all currency trading is a zero-sum proposition. If someone is making money, someone else is losing money.
There are always losses being taken by individuals and institutions who are either unaware of the currency exchange market or cannot for one reason or another allow exchange rates to dictate their activities. You wouldn?t put off a vacation because of exchange rates ? and businesses also cannot wait for favorable currency exchange rates to import or export goods. It?s just not a possibility for each and every Forex investor to get rich ? simple as that.
The next time you?re reading through a web forum on the topic of Forex and you?re trying to decide whether or not the negatives you?re reading about a given product or service mean that it is one of the Forex scams, you should think about how things work in the ?real? (offline) world.
Let?s say that you buy a book on Forex trading from your local bookstore. You read the book, apply what you have learned and find that it doesn?t work for you. Maybe the information here is out of date, or it simply didn?t work for you for another reason. You?d probably just chalk it up to a lesson learned and try something else. What you wouldn?t do is to angrily run down to your local bookstore and accuse the owners of operating a scam.
However, if this same bookstore was urging people to pre-order a new book which they were hyping up and you were to show up on the day of sale to find the bookstore had closed up and the owners skipped town; now that would be a scam.
A scam, according to the dictionary, is 'a fraudulent business scheme; a swindle'. A scam involves fraud and an intention to deceive. Scams are illegal. It is not correct to use this word to describe something offered and delivered in good faith.
With the word ?scam? being thrown around so often, it can be hard to know what products are legitimate and which are not ? this makes people, already a little hesitant of buying online even more nervous. In many cases, products are accused of being scams simply because they didn?t work the way a customer expected. You may take their advice and not want to buy these products; after all, not every legitimate product is a winner ? but it would be wrong to call these products or services Forex scams. - 23221
About the Author:
Author Jack Sawyer has some great suggestions on finding the greatest Forex Software. To learn Forex Trading Online go to http://www.forex-product-review.com.
posted by X - Men @ 4:15 AM
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