Yes, you can just buy and hold the currency for however long you wish. But, the problem with Forex trading, as the others outlined, are largely commissions fees. That, and the fact that currencies generally don't fluctuate that much, unless some major event happens.

But, depending on said news, the currency could go against you, and severely crush your position.

Currencies tend to regress to the mean, so unless you have a large sum of currency held, earning a tiny bit and then selling probably isn't in your best interest (since most companies charge heavy commissions).

I suggest you stick to stock trading.

Let's say I bought 1 lot of USD/CAD and then USD weakened against the CAD. Simply, I can just wait till the USD recovers and gets stronger than the CAD??

Who says it's going to recover?? Also how much is it costing you to make this buy?? What is your brokerage fee here??

Forex is not for you to make money. It's for your broker to make money.

Depends on when you buy and sell of course. If you bought CAD at its historic lows about 10 years ago, you've probably permanently lost money since it's unlikely to dive down to $0.60 any time soon. Same if you bought it over the last 18-24 months when it was $1.10 - that's probably a historical high. I doubt either point will be hit in the next 20 years.

Because ForEx is a "zero-sum" proposition; for you to GAIN any money, someone else has to LOSE that same amount, plus you BOTH lose the commission...

It's a suckers' game...you are better off putting your money on a horse!

not sure,, i read in Consumer Reports Magazine

(a trusted magazine)

that more than 90% of first time forex users lose money

*** how's that for solid statistics

before getting involved google:

FOREX SCAMS

that way you know how the sites work

I'm making big money with binary option, I use this software ( http://forexsignal.kyma.info ) My software delivers signals only when the five indicators (bp trend filter, market deviation, price pattern, rel. price impulse, stat. price range) are aligned together and we have an extremely high confidence rate, it must then co-exist with my proven secret strategy before a trade be detected… as a result, we get a guaranteed Highly-Accurate ’80-100%’ Signal.

I'm new to Forex and I'm trying to get some information clear.

Let's say I bought 1 lot of USD/CAD and then USD weakened against the CAD. Simply, I can just wait till the USD recovers and gets stronger than the CAD. Keeping in mind that cut off interest rates are so sparse. So how can I possibly lose trading forex if I adopted this strategy?