One of our favorites, Josh Brown over at Reformed Broker, ventured into our world a little today with a post echoing what we’ve been saying for quite some time (here and here, for example): AVOID FOREX
He points readers to a piece in Barrons over the weekend (Pitfalls of the Currency Casino), which digs into now publically traded Gain Capital’s financials and reported numbers, and points out that you might as well spin a roulette wheel in Vegas with your money if you’re looking to sink some in forex trading. We definitively agree.
While Josh has, in the past, issued this classic advice to those considering investing in forex, we have our own thoughts, circa 1980’s drug programs (imagine how much volume would surge in the drug world if you could buy with a credit card like in Forex):
- Just say no.
- If you must do it, do it with a manager.
- This is your portfolio- this is your portfolio on Forex.
- Seriously…. Just say no.
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