Whoa! This is a looooong thread! Can't say I've read it all but hopefully have caught the gist of it. Forex or any other futures trading is a legit investment avenue more common in developed countries. Even there they have issues,contrary to what many may think.I know of a guy who lost 700k last year after his Bahamas based broker was shut down for money laundering and also a Brit broker that was straight out con. After getting 15 mn gbp in deposits he disappeared,was arrested and is now doing time-with the clients money.Have also heard the horror stories of local investors being conned,though IMO the trader loses the money and is too embarrassed to admit it. A buddy lost 200k though I've heard of a guy who lost at least 1.5mn$ this year.
I've been in forex for 4 years and I know what I know which is this:
-don't trade every day
-chose a pair that works,for me its dollar pairs and gold
-find a system that works,most reliable is purely news trading,waiting for the data that moves the markets and then taking a position;with gold this a sure winner.Today I expect some upward movement but nothing serious like NFP since its Building Permits and Existing Home Sales and we all know how that sector is faring
-don't trade tired which is almost as bad as trading drunk!