Unlike what many trainers and gurus out there would want you to believe, Forex is NOT an easy way to make money. It is the same for any other trading or investment products.
To make money consistently, we all need a system and this is the same for Forex trading as well. Can we become a millionaire trading Forex? Yes, absolutely. Just like how a real estate agent or an insurance agent can become a millionaire doing what they do.
In a small country like Singapore, there are many millionaire real estate or insurance agents. There are also a lot more who are struggling to make their bill payments every month. They all work under the same conditions. They are able to approach the same customers, have access to the same databases, able to advertise in the same websites or knock on the same doors. So how is it that some can make a million a year while others are not able to close 1 deal a month?
Should the real estate or insurance industry be viewed with similar skepticism as Forex trading? Are they scams as well? No! It has nothing to do with the job or industry. It is how the individual works. It is about how much effort you put into your work. It is about how badly you want to succeed.
You are not going to become a millionaire just by investing 500 or 1000. You are going to need much more than this.
Most people think that they can learn to make money through Forex trading within a short time, and become a full-time Forex trader who makes thousands or even millions of dollars.
This is is not true at all. You will also need to keep practising and practising until you are proficient in your trading skills. And this takes time and effort and determination and perseverance. The will to keep going and going even when the odds are stacked against you.
Daily Forex is my way of sharing my personal thoughts on the Forex Industry with would-be traders as well as current traders.
I thank you in advance for following my daily blog post and of course an upvote would be a nice motivation for me. It will also be a sign that my content is relevant and have given you a bit of insight on what Forex Trading is all about.
Here are some interesting topics to start you off :
- Daily Forex #1 - Will Forex Trading Be Banned
- Daily Forex #5 - How Forex Spreads Work
- Daily Forex #6 - What Makes The Price Move
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