http://blogs.wsj.com/moneybeat/2015/01/16/six-in-ten-retail-forex-traders-lose-money-each-quarter/
2:21 pm ET Jan 16, 2015
Six in Ten Mom-and-Pop Currency Traders Lose Money Each Quarter
By Erik Holm
FXCM Inc., a currency-trading platform for mom-and-pop investors, on Thursday revealed that its clients had taken a massive hit when the Swiss central bank surprised the world and abandoned its efforts to create a ceiling for its currency.
But that shouldn’t be a huge surprise. After all, about two-third of FXCM’s U.S. clients lose money each quarter. In last year’s third quarter, the most recent available, 68% of the firm’s active U.S. accounts were unprofitable.
That figure holds true across much of the industry. Among six of the biggest firms that allow U.S. retail traders to play in the currency market, a weighted average of 38.3% were profitable, according to Forex Magnates. In other words, more than six in ten were unprofitable.
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Everest Macro Hedge Fund Blows Up After Nearly $1 BIllion In Swiss Franc Losses
http://www.freerepublic.com/focus/f-news/3247991/posts
I’ve piddled around with currencies in a minor way and only have the nerve when the dollar is at a high which provides a margin of error and improves return, plus I stick to only 1st world currencies, very cautious. When the dollar calms down and declines I bring it back into dollars. Not going to make me rich because the opportunities aren’t frequent enough, but the return is OK. There have been several pronounced dollar spikes since 2008. I’ve usually gone into Euro, which is looking very poorly lately, $1.15 last I checked. Normally that would look like an opportunity since the dollar is still strong. Something feels wrong though, especially since the Swiss have done what they have done, so I’ll sit that one out.