Forex trading …..

Posted on 09 June 2011

In January a friend of mine called and asked me to go with him to look at a way of making money on the Internet with forex trades. I don’t have much knowledge of forex trading, except that financial institutions like banks pay some very bright people lots of money to trade in foreign exchange. And that these bright people have enormous resources at their disposal to help them make decisions regarding these trades. Also, forex trading is referred to as a “zero-sum game”, which means that at the end of the day when all the gains and losses are summed up you get zero. When somebody gains, somebody else loses!

With this in mind we met and went off to see this chap who happened to own a car wash – interesting. Here was a chap with a car wash making money out of forex dealing on the Internet. And, he was making quite a lot of money from this part-time activity. In the previous month he had made over $1,085! He started with an initial investment of $2,000 which he still had invested, and had made another $490 and he wasn’t even half-way through the month. I was amazed and sceptical, he was getting a return of 1.75% per day, this equates to 637% per annum! Only after he showed me his personal bank account and his Internet payment processing account where I could follow the transactions he had made did I believe it. Yep, it was real, he was making money! But how? I was going to find out ……