About PFX - Profiting with Forex (PFX)

Learn and love the forex with us, but avoid the pitfalls

This Profiting With Forex (PFX) website started as the fulfillment of a promise made in the book, Profiting With Forex. There are so many books and sites out there that offer information and education around the forex, but we wanted to make sure traders could take the priciples we offered, and apply them in the actual market.

The PFX site is designed to build on the principles in the book, and give you straight-forward and applicable information that you can use in your trading today.

We love the forex, and think it's the most fascinating and fun of the capital markets. Unfortunately, like with any good thing, there is a lot of clutter out there leading newbies to believe the forex is something it's not.

As such, we try to be a voice of reason and clarity in a cluttered market. We know the forex can be profitible. But it's not a get-rich-quick vehicle, and those who invest like it is, inevitably lose money. To profit in the forex requires knowledge, discipline and committment, and we offer the tools and analysis on this site to help you establish those attributes.

So don't be taken by the charlatans promoting "can't-miss" forex systems. Instead, invest the time in yourself to become educated and disciplined, and let your profits speak for themselves.

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Before deciding to participate in Forex trading, you should carefully consider your investment objectives, level of experience and risk appetite. There is a significant learning curve to trading successfully in Forex. Most importantly, do not invest money you cannot afford to lose. Forex investing is not ideally suited for investment of retirement (IRA) accounts.

There is considerable exposure to risk in any foreign exchange transaction. The market remains open 24 hours a day for 5 ½ days. This means that unexpected events may affect your investment while you are resting. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price, spread, or liquidity of a currency. The most enticing aspect of trading currencies is the high degree of leverage used. Leverage seems very attractive to those who are expecting to turn small amounts of money into large amounts in a short period of time. However, a high leverage refers to the speed at which an account gains or loses money. One cannot hope to make extraordinary gains without taking extraordinary risks. Leverage should be gradually increased, as trading performance improves.

There also additional risks that affect your Forex investments, such as, but not limited to: losing internet connectivity for various reasons (your machine, your ISP provider, your dealer's servers, your dealer's ISP provider), computer or server malfunction, software upgrade disruptions, and inappropriate usage of trading tools. As a result, prudent investors should be prepared for unexpected contingencies by implementing appropriate procedures such as having: multiple computers setup for trading, multiple ISP providers, your dealer's phone number on speed dial to assist with trades, and print outs of account number and open tickets. In addition, investors should always gradually upgrade their operations by starting with a demo testing period, followed by setting up a mini account, and upgrading to a live account if all tests are working to plan.