What do you think of those "Forex Trading Machines" which are sold online?

They say there are "X" number of days when the best deals with foreign currency are made

I believe that you should do your own research and learn as much as you can so that you know what to do with your own money. Never make an investment unless you know the product thoroughly. This does not mean you have to be certified in every subject, however, you should be able to spot when something sounds fishy or is just plain marketing hype.

This takes study and does take a long time, not something you can do in 2 -3 months time. Atleast a year of diligent study is a decent start.
There is a difference between a broker and a money manager. A broker makes money whether you make money or lose money.
A money manager makes money only if you make money in the account. The difference is subtle but very profound.
Obviously the broker does not really care about your investments and does not have the incentives to help you make money unlike a money or fund manager.
As you are still learning, my advice is to let a professional money manager handle your money while you keep an eye on it and you have studied enough and have the confidence to trade or handle the investment your self.

A money manager lives the markets and do have considerable experience to trade the markets and hence has a higher chance of being more successful.

This does not mean that you cannot lose money, but if you had a heart attack, would you go to a surgeon or to an intern? Surgeons cannot guarantee that you will come out alive, however, the chances are pretty good as he knows what he is doing.

Re: Forex Trading Machines
All rubbish and stay far away. If it were available and successful, you can corner the market and make billion of $.
To give you an example of how leverage and money management can really boost the equity, if you can make just 10pips (points) a day in the market, you can turn a 500$ investment into about 18mill$ in 5 years time. Thats the power of leverage and money management. The markets move about 180points to 250points for GBP in a single day, you have to tap just less than 10% and yet so few people make it.

Keep an open mind and question everything you see, if it is too good to be true, it usually is.

Your reading bring back to my mind that "millionaire" Lay Betting System enticed by some punters.

I will be aware because Forex sound too attractive to invest but no doubt that what seems a good deal needs analysising in depth to avoid scams.

I think that any investing is mostly common sense and lot of study. It is possible to beat the market.
But like most things in life, where there is too much money involved, you will find a lot of scams. You need to filter this out and for that you need to know what the other guy is talking about.

If you only have such a small amount to invest, stay away from Forex. You need about 50K to succesfully invest in the forex markets. Otherwise, you would have to use immense leverage, increasing your chances of a margin call.

Daytrader,
Your comments are so off the mark there, you have absolutely no concept of risk.
Take a moment to study what you have written, there are people here who are taking their first steps in Forex and might shy away from venturing there because of your comments.
Forex Markets allow anyone trading the markets to tailor their leverage and if you trade with proper money management, there is no way you can receive a margin call. You can trade the Fx markets with even 15k or 25k. Obviously the profits you make are much smaller but definitely you can invest that amount.
There are so many trader who start with 10k account and never have got a margin call till now.

i agree with FX Investor,

Has anyone ever invested on a forward contract? I am considering forward selling Euros over the next 18months or so. I have not done it before, but I heard the profits are a lot higher as you don't have to settle on the full amount or something? I've been speaking to a few people and my currency trader person about it, seems a profitable option ... has anyone done this before?