A few years ago when I was first introduced to forex trading, I thought wow this is the best thing ever, imagine I just predict if the market will go up and won, and I'll make money just like that, how hard can it be to predict what direction the markiet will go but being the naturally inquisitive person that I am, I decided to make some more research before I jumped into it, learn more about this forex thing, before I invest my money.

I had to be sure that someone, anyone was actually making money from it so I signed up for a couple of forums online, joined some Facebook groups , followed some Influencers on twitter and YouTube ( man those guys on YouTube can fill you up with Gamblers Fallacy) I watched a lady turn $100 to about $14,000 on her YouTube channel, I don't even know if that is real but but after seeing all that I was hyped, this is finally it, my ticket to financial freedom. I was going to become a millionaire by trading forex...But a few months down and couple of dollars lost I was starting to wonder maybe it was the devil in fact who sent my friend to me, to help me loose my hard earned money, I mean instead of making money with forex I was practically getting poorer trading forex this isn't how it's supposed to be.

So I stopped trading for a while and turned my focus back to my job, heaven knows I had imagined quitting the job some months back but right now I'm so happy I still got the job.
But the lure of making money through forex didn't leave me, so even though I couldn't trade I decided to do properly now what I should have done the first time, research- I mean make proper research. What I discovered alarmed me honestly. First are you aware that over 80%of traders suffer loss trading forex, and that every successful trader has at some point blown their account especially during their early days.

Guess it wasn't as easy as I had imagined, don't let anyone fool you, to become successful trading forex takes a lot of discipline and hard work, I know that most people have this illusion that Forex traders make a lot of money across the globe, but this is simply not true. The fact of the matter is that only a fraction of traders achieve success in this world.

The point is that you need to learn the art of trading if you want to make a lot of money as a Forex trader. That said you should also know that forex is not a get rich quick scheme, it's not gonna happen like you imagined it trust me buddy it's not, it take months if not years of practice and good investment before you can start making money trading forex. You need to discipline yourself and avoid mistakes that most forex traders make that leaves them with zero balance in their trading account.

Another thing they probably wouldn't tell you but it very very paramount of not is; If you are unemployed, trading Forex is not a good choice for you. Similarly, if you have low income and pay your credit card bills with difficulty, you may not want to try your luck in this industry.

If you think you can start Forex trading by depositing a couple hundred dollars, you should think again. First of all, you should keep in mind that FX trading is a market of speculation. Therefore, the value of currencies continues to change overtime.

If you cannot follow certain diet or you cannot go to the gym on a regular basis, it will be much harder for you to achieve success as a Forex trader because obviously you lack the strict discipline needed to succeed as a forex trader.
As a matter of fact, Forex trading is a skill that requires a lot of time to learn. While it is true that experienced traders do make tons of money in this field but they have a lot of experience even at that these expert traders suffer losses from time to time.

In other word forex trading requires a lot of hard work and solid strategies. If it were so easy, every trader would be a millionaire
You have to have a lot of patience and experience to gain success as a new trader. The only way to be successful is work hard, bear patients and learn the art.

If you are just getting started, i will advice that you start with a demo account. With this account, you can practice your skills until you are ready to try your luck with an actual account.


DO NOT MAKE THE SAME MISTAKES I MADE

While it is true that forex trading won't make you rich in a short time it is also very true that trading forex can make you a lot of money if you be patience and follow the right strategies.

So don't just rush into it like I did, make your research forget about those Youtube guys posting videos on how they turn $100 into $14000 in one day of trade. Study the market, pick a strategy master it and also learn to control your emotions and master money management skills before you embark on your journey to trading forex also choose a good broker.

marveangel:
A few years ago when I was first introduced to forex trading, I thought wow this is the best thing ever, imagine I just predict if the market will go up and won, and I'll make money just like that, how hard can it be to predict what direction the markiet will go but being the naturally inquisitive person that I am, I decided to make some more research before I jumped into it, learn more about this forex thing, before I invest my money.

I had to be sure that someone, anyone was actually making money from it so I signed up for a couple of forums online, joined some Facebook groups , followed some Influencers on twitter and YouTube ( man those guys on YouTube can fill you up with Gamblers Fallacy) I watched a lady turn $100 to about $14,000 on her YouTube channel, I don't even know if that is real but but after seeing all that I was hyped, this is finally it, my ticket to financial freedom. I was going to become a millionaire by trading forex...But a few months down and couple of dollars lost I was starting to wonder maybe it was the devil in fact who sent my friend to me, to help me loose my hard earned money, I mean instead of making money with forex I was practically getting poorer trading forex this isn't how it's supposed to be.

So I stopped trading for a while and turned my focus back to my job, heaven knows I had imagined quitting the job some months back but right now I'm so happy I still got the job.
But the lure of making money through forex didn't leave me, so even though I couldn't trade I decided to do properly now what I should have done the first time, research- I mean make proper research. What I discovered alarmed me honestly. First are you aware that over 80%of traders suffer loss trading forex, and that every successful trader has at some point blown their account especially during their early days.

Guess it wasn't as easy as I had imagined, don't let anyone fool you, to become successful trading forex takes a lot of discipline and hard work, I know that most people have this illusion that Forex traders make a lot of money across the globe, but this is simply not true. The fact of the matter is that only a fraction of traders achieve success in this world.

The point is that you need to learn the art of trading if you want to make a lot of money as a Forex trader. That said you should also know that forex is not a get rich quick scheme, it's not gonna happen like you imagined it trust me buddy it's not, it take months if not years of practice and good investment before you can start making money trading forex. You need to discipline yourself and avoid mistakes that most forex traders make that leaves them with zero balance in their trading account.

Another thing they probably wouldn't tell you but it very very paramount of not is; If you are unemployed, trading Forex is not a good choice for you. Similarly, if you have low income and pay your credit card bills with difficulty, you may not want to try your luck in this industry.

If you think you can start Forex trading by depositing a couple hundred dollars, you should think again. First of all, you should keep in mind that FX trading is a market of speculation. Therefore, the value of currencies continues to change overtime.

If you cannot follow certain diet or you cannot go to the gym on a regular basis, it will be much harder for you to achieve success as a Forex trader because obviously you lack the strict discipline needed to succeed as a forex trader.
As a matter of fact, Forex trading is a skill that requires a lot of time to learn. While it is true that experienced traders do make tons of money in this field but they have a lot of experience even at that these expert traders suffer losses from time to time.

In other word forex trading requires a lot of hard work and solid strategies. If it were so easy, every trader would be a millionaire
You have to have a lot of patience and experience to gain success as a new trader. The only way to be successful is work hard, bear patients and learn the art.

If you are just getting started, i will advice that you start with a demo account. With this account, you can practice your skills until you are ready to try your luck with an actual account.


DO NOT MAKE THE SAME MISTAKES I MADE

While it is true that forex trading won't make you rich in a short time it is also very true that trading forex can make you a lot of money if you be patience and follow the right strategies.

So don't just rush into it like I did, make your research forget about those Youtube guys posting videos on how they turn $100 into $14000 in one day of trade. Study the market, pick a strategy master it and also learn to control your emotions and master money management skills before you embark on your journey to trading forex also choose a good broker.

How long did you trade before you started making profit?

ElectronicMoney:


How long did you trade before you started making profit?

it took over a year of practice with demo before I summoned enough courage to get back to my real account but once I was back I saw things differently and was making profit( very little though)

marveangel:
it took over a year of practice with demo before I summoned enough courage to get back to my real account but once I was back I saw things differently and was making profit( very little though)

That's great. What's your average percentage profit in a month?

Forex trading is a scam,

Forex trading requires PATIENCE. It is a marathon, not a Sprint.
In this business, there is need for upmost discipline and rule following.

If you perfect the art, then the sky is your starting point.
Always follow the trend, and only trade when your conditions are met.
Yes there are losses, but let your winnings outnumber your losses.

Always check the D1 timeframe, and sometimes W1 timeframe, it gives hint.

Remember, HIGH RISKS, HIGH REWARD.

Maybe few that may not up to 1%. Forex softwares may be programmed against depositors.

MALLAM IS THE ONLY ONE TRADING FOREX

coputa:
Forex trading is a scam,

Forex is not a scam the problem is you get into it thinking you are going to be one a millionaire trading forex when you actually have zero trading experience, very little capital and zero patience

palacealuminium:
Maybe few that may not up to 1%. Forex softwares may be programmed against depositors.

the brokers aren't even the ones that control the market.does bet9ja decide the outcome of football games

ElectronicMoney:


That's great. What's your average percentage profit in a month?

To be honest quite little, I have a target of $1 a day and trade less than 5 times a week.

Don't spam

Bygkww:

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Don't spam please if you have anything meaningful just share with us here

Forex is a great way to earn money but it is a very risky business and you can lose your money if you have no knowledge and skills. So do not trade if you have no skills.

marveangel:
To be honest quite little, I have a target of $1 a day and trade less than 5 times a week.

If the $1 is consistent then I think that may be a good sign.

How much capital do you use currently?

Assuming you increase your trading capital do you think you'll still be able to maintain the same ROI you have now?

ElectronicMoney:


If the $1 is consistent then I think that may be a good sign.

How much capital do you use currently?

Assuming you increase your trading capital do you think you'll still be able to maintain the same ROI you have now?

I started with or should I say restarted with $100 that's after spending enough time on demo. I just learnt to be very very patient also like I stated in my post I have work and a blog I update from time to time so now so much free time

Hi,
Most of my good trading experience was with xtrend https://globalfraudprotection.com/scam-recovery/xtrend-review/. I was very satisfied with it. For now, my recommendation is to go with any of these to get a good grasp on the potential opportunities and for better trading decisions.

It all comes down to the same thing, as always. Rush and hustle lead nowhere good, and the key to success and positive results is careful and gradual immersion into the topic, studying a large amount of information, patience, and persistence. What about choosing a broker? It would be nice to get a few tips.

In fact, choosing a Forex broker largely depends on where you are and where you want to trade. Many countries and regions differ in terms of financial infrastructure and legal nuances, so it’s important to choose a broker that offers the most benefit. If you're interested in Forex brokers in Cyprus, I recommend starting with Karuna Singh's article https://blogearns.com/2024/09/forex-brokers-that-works-in-cyprus.html. Aside from giving you more information on the regulatory landscape in Cyprus, the article offers quite useful and practical advice on choosing a broker.