If you want to get rich trading Forex, you may want to read this…

It’s almost akin to gambling.

Mark Wilkes, Head of Risk Trading at Purple Group

If there was a program available I wouldn’t sell it to you!

Mark Wilkes, Head of Risk Trading at Purple Group

Getting it right the first time could be one of the worst things that can happen!

Mark Wilkes, Head of Risk Trading at Purple Group

The Money Show’s Bruce Whitfield interviewed Mark Wilkes, Head of Risk Trading at Purple Group.

Wilkes discussed the following five reasons to be cautious of forex trading:

  • Inherent volatility.

  • There are always two currencies involved – complex relativity.

  • Susceptible to news headlines and fast reaction.

  • There is no such thing as a successful algorithmic program.

  • I don’t trade in currencies, I trade in everything.

Listen to the audio below for more detail on each of these five points.

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI
Read More
How to turn a hobby into the business of your dreams

How to turn a hobby into the business of your dreams

Small business guru Pavlo Phitidis gives advice to a listener who has an opportunity to turn a tiny business into a massive one.

Silly money mistakes clever people make when they start working

Silly money mistakes clever people make when they start working

Don’t be dumb with money like many smart people! Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

SA Express grounded amid ‘a very serious safety risk to the public’

SA Express grounded amid ‘a very serious safety risk to the public’

Flew SA Express lately? You’re lucky to be alive! Bruce Whitfield interviews SA Civil Aviation Authority CEO Poppy Khoza.

Polony recall hits Tiger Brands hard... where it hurts

Polony recall hits Tiger Brands hard... where it hurts

Tiger Brands reported a 16% drop in half-year earnings. Bruce Whitfield interviews its CEO Lawrence MacDougall.

How much you need to retire ‘comfortably’ (and the best ‘investment’ ever)

How much you need to retire ‘comfortably’ (and the best ‘investment’ ever)

For your assets to generate an income that lasts as long as you do; here’s what you’ll need to amass (and tips for getting there)…

Like KFC? Of course you do! Meet Doug Smart, its Managing Director in Africa

Like KFC? Of course you do! Meet Doug Smart, its Managing Director in Africa

Bruce Whitfield interviews Smart who, at the age of 52, is retiring, and looking forward to a more “purposeful” second life.

Popular articles
[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

The chilling call Henri van Breda made to emergency services on the night his mother, father and big brother were hacked to death.

[LISTEN] Dailene, the lady behind the video from Thursday's heist in Boksburg

[LISTEN] Dailene, the lady behind the video from Thursday's heist in Boksburg

Another heist was carried out in Boksburg on Thursday morning and led to five people being arrested.

CT's desalinated water may have long-term health risks, scientists warn

CT's desalinated water may have long-term health risks, scientists warn

Desalination is not a risk-free solution to the water crisis and could have health implications, local experts have argued.

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Cyril Ramaphosa's ex-wife says abuse allegations spread by EFF leader Julius Malema are an attempt to tarnish his reputation.

How businessman Max Lichaba struck gold with his jewellery company

How businessman Max Lichaba struck gold with his jewellery company

Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.

Is Shakespeare still relevant to SA's school curriculum?

Is Shakespeare still relevant to SA's school curriculum?

How relevant is Shakespeare in SA's English literature which is written in a manner that no one speaks today?

3 reasons for the petrol price hike (and why it will hurt more than you think)

3 reasons for the petrol price hike (and why it will hurt more than you think)

Economist Dawie Roodt says that the petrol price hike is going to boost the cycle of inflation and force interest rates up.