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PENNY STOCKS ARE NOT WORTH IT
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[QUOTE]Originally posted by permanentjaun: [QB] For those considering forex I would like to point some things out. This is in response to Machiavelli's point about only needing to track 7 major pairs. I'm here to tell you that you don't even need to track 7 pairs. When you trade GBP/USD and USD/JPY you're essentially trading GBP/JPY. Many of the pairs are very closely correlated. EUR/USD tends to have more than 85% correlation to GBP/USD. So you don't even need to trade 7 pairs. You could do very find trading just one. Yes, just one. Ace of Space, yes you could have turned 10,000 into 65,000 in 2 months. The problem is if you only have $10,000 in your account. Everything is on margin so you are not able to trade the full 10,000. You don't need to though. Because of the leverage price moves enough to make several hundreds or thousands in a day. That's another thing that is nice about forex. You only need to trade 1 currency, and that currency is always going up or down. Volume does not leave. You don't get caught "holding the bag" in forex. There is always money flowing in and out. It's a completely different game though. You need to know how to trade both ways. Matt [/QB][/QUOTE]
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