FROM THE ARCHIVES: This Would Be Hilarious If It Wasn’t So Sad — Forex Edition

I’m officially on vacation.  Please be patient with the archive posts.

I thought this article was particularly appropriate as I walked by a forex trading kiosk in a mall in Singapore a few days back.

NOTE: This particular trader no longer has a forex account.

Despite the best advice of his attorneys , a colleague of mine decided to throw some cash into a forex account.   He’s a very successful equities trader and hopefully he will be able to translate that into the currency racket.  His broker recently emailed him the attached document as is now required by new CFTC rules on US based spot Forex brokers.  The numbers are against him — see below.

Clearly I’m not the only one wary of the unregulated world of Forex. I’m actually a little suprised that the number of profitable traders are as high as they are.  I would have thought less than 10% would be profitable in the bucket-shop game.

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