hi,
new to this forum. i am a big horse racing fan and follow cashmasters blog he reckons he has made £ 15k in a month on this so i just wanted to find out about it so i ended up here seems he is telling porkies though........
Cash Master Blog
Sorry Mate.
This SH1T on cashmasters is B/S. And makes me a bit mad - for really important technical reasons. Right now I haven't got the energy to go into the Technical details of why - (including his stupid statements about EUR/USD and Cable). My short suggetion is to take the software - and send it back at 3 weeks for a refund. Open and Trade a demo account so you're not risking hard earned cash. You'll come the right conclusion I am sure. You'll also learn a lot in the process and this is what the Forex game is about.
It's potentially very very rewarding but I am serious when I say that it's a long haul. Anyone that tells you they are making dozens of pips.. day in and day out... In my opinion is.. well let's not go there.
In my view Forex trading isn't horse racing. it's rather more serious because in reality we are betting on our economies and, therefore our lives. Pure and simple. Its' potential exceeds that of the gee gees by a massive margin (you try getting a win bet of £20,000 on an evens favourite at Betfair).
Think about it this way.. if you open a corner store with a view to expansion, then tell your mates that you intend to buy Harrods next year, they would have you sectioned. And they would probably be justified.
Consider that anaology. Forex is about about learning a busines from the real basics.
We are all constantly learning and you will too. But only if you come in with cynical/analytic mindset. Get rich quick it isn't!
If the dude on Cashmaters is making this kind of bread ask yourself this. Why the hell is he wasting his valuable leisure time posting on the internet. I know I would be sitting on my boat in in Monaco sipping bubbly while my employees were sitting in front of computer screens following my trading systems.
If you can learn enough in Forex to limit your losses to about 20-30% in year one - you'll being doing well. If you then break- even in year two you are in the top 20%. If you can then consitently make 20 -50%pa thereafer you'll be in the top 5% of retail punters playing these markets. And beating the pros.
I don't want to disilussion you or put you off in any way, just go slow and be prepared to LEARN LEARN LEARN. It will pay off
Good luck.
DB