What is Forex
Forex is the largest and most liquid market in the world with an average of 5.3 TRILLION being traded daily leaving an opportunity for YOU to profit from this market. The forex market is open 24hrs a day five days a week.
Have you ever traveled to another country and had to exchange your currency for their local currency? Or purchased a product or service online from another country, if you have, then you have already participated in the forex market. The only difference between this form of foreign exchange and professional forex trading is we use a systematic and methodical system intending to make money.
1. Forex is Expensive, and You Need a lot of Money to Start Trading
One of the most popular misconceptions about currency trading is people believe you need thousands of dollars to open a forex account and start trading. With most brokers, you can open a live account with as little as 50 bucks which makes it easy for beginner traders to start trading. However, I do not recommend you open any live accounts until you have educated yourself on how to trade the market and understand risk management effectively. Most brokers offer free demo accounts for you to practice which looks and feels like a real trading account; this is known as paper trading. Durning your learning stage, I highly recommend you do not risk a cent of your money in the market. Demo trading allows you to practice and get a feel for the market risk-free.
To Learn More About How You Can do this Contact Me or Visit My Education page.
2. Forex Trading is Way to Risky
Many people will tell you that trading is high risk and you should not trade or you will lose all your money. There is risk involved in every forex transaction or any investment that you will ever make in your life. There is a risk in everything we do in life, but we naturally find ways to manage our risk and find rewards that outweigh the risk. In Forex trading, you can limit your risk by using minimal leverage and stop losses leaving an opportunity for your reward to far to outweigh your risk.
You May Asking Yourself How Can I Do That? I am Here to Help to Guide You in The Right Direction.
3. Forex is a Scam
Alongside many of the other unproven lies, you will hear Forex trading currency is a Scam. Currency trading is a simple exchange of one currency for another, and there is no different from you trading your money for your morning coffee in the morning. Forex is a legitimate market, and without the currency market, it would be difficult for us to go on holiday and conduct business in other countries.
Just like any other unregulated market, some scammers will try to take advantage of the uneducated and inexperienced traders who desire to enter the market. The forex market has received some bad press over the years due to the collapse of some retail forex brokers that effect customers to lose their accounts. High Yield Investment programs have created a bad name for the forex market. Many making claims of a high level of return for small investment into the forex market, which was a form of Ponzi scheme. If it sounds too good to be true, it probably is.
Forex is not a Scam, But Please Be Aware There Are Scammers Out There and I Highly Recommend You Educate Yourself Before You Enter The Market.
4. Trading is a Form of Gambling
The popular misconception is that trading is similar to casino gambling has been around for decades. Trading does have speculative aspects and inexperience, and uneducated traders may treat it as a form of gambling, there is a difference between gambling and professional currency trading. Trading is a form of speculation where you take a calculated risk using fundamental and technical analysis, where gambling is in betting on a particular outcome without any logic except hope. Successful trading requires you to obtain knowledge on either technical or fundamental analysis to have any form of success. Traders who enter the market without any analysis or preparation are mostly gambling. I can assure you, professional traders, never enter the market without doing their preparation on the market
SMART TRADING IS NEVER GAMBLING
5. Forex is a Way to Get Rich Quick
Marketing and advertising professionals have done a great job of rapidly expanding the retail forex market and selling it to people as a get a RICH quick opportunity with little to no effort. Yes, there are opportunities for you to make excellent money currency trading. And this can happen quickly depending on each individual; you must understand trading takes patience, and you must be willing to do the work. I have never seen or heard of anyone getting rich quick unless they won the lottery. Investing your time in developing this skill set could be one of the best things you ever decided to do in your life. But you must be willing to put in the work to achieve the skills that can change your life forever. Nothing in life comes for free.I am not here to sell you the fake pipe dream. I will help you learn how you can develop a skill set that can change your life, but it is up to you to commit to putting in the work to achieve financial freedom.
ARE YOU READY TO LEARN? CONTACT ME TODAY!
Benefits of the Forex Market
24 Hr Market
The forex market is operational 24hrs a day, five days a week. Unlike the stock market, the forex market does not open and close each day. Allowing for a smoothe market and less gapping which stock markets are known todo. Also, the forex market being 24hr always for individuals to trade part-time around their busy lifestyles.
Brokers realize not everyone can start with large trading accounts and trade thousands of dollars per trade, so they allow you to leverage your positions. Leveraging is borrowing capital to increase potential returns. Although this a great benefit to forex trading its is also very important you do not over-leverage your account, this comes down to knowing and understanding risk management. We can go deeper into risk management later.
It is important to remember to purchase or sell and investment or trade there has to be someone else on the other side willing to trade you at the same time. One of the remarkable benefits of forex trading is the OTC, (over the counter) which means there is always someone willing to buy or sell to you. Compared to the stock market, you can get stuck in a trade if no one is willing to trade.
Forex trading has the lowest transaction cost amongst the financial markets; typical stocks cost dollars per transaction, whereas currency cost cents per trade. Transaction costs do vary, which are known as spreads, they change throughout the day, and you can use this information to maximize the low-cost transactions.
Watch This Short Video to Get a Better Understanding of What Forex is and How You Can Make Money From Forex Trading
I am Working Every Day to Improve My Skills and Change my Life and Would Love for You to Join My Community and Me.
Currency Trading Has Changed My Life, and It Can Change Your Life Too!
**Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. This information is for research and education purposes. It is not a recommendation to invest or trade cryptocurrency or trade forex **Risk Warning: Trading leveraged products such as Forex, CFDs and Cryptocurrency’s may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.