Question by agomez1110: Anybody have experience with currency trading?
I heard currency trading makes good money. Is that true or is it all a hype. Thank you!
Best answer:
Answer by maj0r_pawnage
it is a zero-sum game, and it is identical to gambling, unless you sift through thousands of articles a day and analyze their meaning to currency before everyone else can… then u will be at the mercy of the market, look into growth mutual funds if you want to make money(though not now) buy canadian dollars if you want, it will strengthen, u can just follow the rules, i bought USD when it was on par with CAD and made 20% on my investment quickly
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Question by : What’s the best way to prepare for trading currency?
I’d like to start investing in currency, but i have no idea where to start. I’m not interested in misleading online forums, and online courses. I’d prefer to hear about textbooks, novels, basically anything that will give me a solid understanding of what makes currency values rise and fall.
Also, what is your honest opinion of trading in the Forex market? Is it over hyped? Is it really that difficult to earn, say $ 1,000 dollars of return every month? Please list whether you’re talking from experience, or research. Thanks.
Best answer:
Answer by KIRKUK
you will lose ALL your money and then owe even more to the Forex firm ,they make it sound easy for people to make cash ,that’s the bait on the end of the fishing line ,don’t be a muppet by believing it…
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Question by Alex L: If I make income trading currency on the foreign exchange, must I report this on my federal taxes?
I want to start trading currency on the foreign exchange but am not sure if I would need to report my returns as income on my federal income tax return. If I do need to report it, how so?
Best answer:
Answer by hrblockchristinew
Yes you are supoposed to claim any income tha tyou receive on your taxes.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. http://www.hrblock.com/taxes/tax_tips/index.html
http://www.hrblock.com/taxes/tax_calculators/index.html
Christine
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Technorati Tags: Currency, exchange, federal, foreign, income, must, report, taxes, this, Trading
