Forex Trading

comment_as...

It's been easy for UK traders to make money on Forex because Covid and Brexit have destroyed the pound. That doesn't mean you'll get the same returns in the future. Not saying you won't, just that nothings guaranteed. There will be times you lose even if you make money overall. There's a lot to be made and lost atm as tourism dollars come and go from variously affected countries

HansOndabush

comment_as... said:

It's been easy for UK traders to make money on Forex because Covid and Brexit have destroyed the pound.

Twaddle! GBP has risen against both the USD and EUR over the past year during Covid and Brexit.

comment_as...

HansOndabush said:

comment_as... said:

It's been easy for UK traders to make money on Forex because Covid and Brexit have destroyed the pound.

Twaddle! GBP has risen against both the USD and EUR over the past year during Covid and Brexit.

It has gained against the dollar (as has just about everything else thanks to Trump's even worse handling of Covid & trade) but it has fallen against the euro and other popular currencies like the yen and the shekel etc.

NottinghamKnight

comment_as... said:

HansOndabush said:

comment_as... said:

It's been easy for UK traders to make money on Forex because Covid and Brexit have destroyed the pound.

Twaddle! GBP has risen against both the USD and EUR over the past year during Covid and Brexit.

It has gained against the dollar (as has just about everything else thanks to Trump's even worse handling of Covid & trade) but it has fallen against the euro and other popular currencies like the yen and the shekel etc.

Shekel?  

Gadfium

NottinghamKnight said:

comment_as... said:

HansOndabush said:

comment_as... said:

It's been easy for UK traders to make money on Forex because Covid and Brexit have destroyed the pound.

Twaddle! GBP has risen against both the USD and EUR over the past year during Covid and Brexit.

It has gained against the dollar (as has just about everything else thanks to Trump's even worse handling of Covid & trade) but it has fallen against the euro and other popular currencies like the yen and the shekel etc.

Shekel?  

For this gourd? Are you trying to insult me?! Me, with a poor dying grandmother?!

uptick

It's been easy for UK traders to make money on Forex because Covid and Brexit have destroyed the pound. That doesn't mean you'll get the same returns in the future. Not saying you won't, just that nothings guaranteed. There will be times you lose even if you make money overall. There's a lot to be made and lost atm as tourism dollars come and go from variously affected countries
This is as previously suggested absolute twaddle, it doesn't matter which way sterling goes you can buy it or sell it accordingly. Or trade different currencies. It is possible to make 1% a day although difficult to maintain and losses will occur.

As for the original question about SANGUS, I think most comments here are mis informed.
1, SANGUS operate a trade copying system: your account copies their trades, although you can still enter or close trades as you see fit.
2, They promise to make about 1% per day. I had an account managed by them until recently and they failed quite comprehensively. To the point that I suspect they get a commission or kick back on all trades placed with the broker Go Markets. (I didn't ask as I suspect that might not be legal)  However my account was heavily traded and the broker got paid for each trade, the balance ("equity" the amount I could cash in for)  remained more or less static, so most of my profit went to the broker, SANGUS never made sufficient profit for them to take a commission from me!
I neither made nor lost overall during my spell with them.

HansOndabush

Covid and Brexit have not destroyed the pound. It is up against the USD over the last year and it is down 5% against the euro though significantly up since its low point in March. It is twaddle to say that it has been easy to make money on FOREX because the pound has been trashed; it has NOT been trashed.

eskbanker

HansOndabush said:

Covid and Brexit have not destroyed the pound. It is up against the USD over the last year and it is down 5% against the euro though significantly up since its low point in March. It is twaddle to say that it has been easy to make money on FOREX because the pound has been trashed; it has NOT been trashed.

The post above yours had just copy/pasted an earlier one from comment_as... and uptick (who, as a newbie, probably didn't know how to quote posts) was agreeing with your previous response that it's twaddle!  uptick's post should have looked like:

uptick said:

comment_as... said:

It's been easy for UK traders to make money on Forex because Covid and Brexit have destroyed the pound. That doesn't mean you'll get the same returns in the future. Not saying you won't, just that nothings guaranteed. There will be times you lose even if you make money overall. There's a lot to be made and lost atm as tourism dollars come and go from variously affected countries

This is as previously suggested absolute twaddle, it doesn't matter which way sterling goes you can buy it or sell it accordingly. Or trade different currencies. It is possible to make 1% a day although difficult to maintain and losses will occur.

MK62

I wonder how much the OP's friend has made in the meantime, doing this forex trading?

yorkie2021

MK62 said:

I wonder how much the OP's friend has made in the meantime, doing this forex trading?

Exactly.