Forex. We see this word way too much on the internet these days. Marketers have a field day selling off Forex systems which will not turn “ordinary people” into “mastermind traders” in spite of what the fake promises claim. FACT! Most of the programs you can buy about Forex trading online are Forex scams. Why are there scams? Because marketers have turned retail Forex trading (that’s where a non-institutional investor trades the Forex market) into a vehicle for “the dream” to be achieved. However, since the market doesn’t work in that way, Forex has arguably become a dream-stealer in the 21st century for many would-be traders.
This is the stark reality. And those of you who have tried some or many of the dozens of “breakthrough Forex strategies” out there will know this is the case. Because being a trader isn’t about buying a $97 eBook or $197 Forex robot online and creating a fortune the easy way. Trading takes smarts, discipline and a persistence that most real traders learn through cold, hard, painful failure and losses.
The truth of the matter is that Forex trading as a career is a rare career. Forex trade floors aren’t the biggest teams in investment institutions. Sure, there’s room for flow specialists, but at the end of the day, the big volumes merely reflect that it is nigh on impossible to make money in Forex without sizable transactions taking place for the speculators. Why trade Forex? You could go into private equities, stock market trading, complex derivatives like interest rate swaps or even a career largely outside of finance, like a doctor, family lawyer or salesperson.
However, many people are getting caught up in the wave of Forex dream-selling that is taking place across the internet. And it is a virus in the true sense, not only in the marketing sense. Preying on vulnerable people – those who are financially hard-up, those who are perhaps compulsive gamblers or addicts, people who’ve earned their way and are looking to invest their money to make it grow – all such can become victims to the Forex scams all over the internet.
So, I went to Hong Kong and I interviewed a whole bunch of traders, investors, risk managers, accountants and CEO’s for the purposes of some research and along the way I found some people involved in Forex trading. If you really want to become a Forex trader, you must become a trader. It is not something that everyone can do. “If you want to really make money, you need to be sitting in front of your screen.” – CEO of a US private equities firm – previously full-time trader.
That’s different to what the “Forex trading dreamstealers” would have us believe isn’t it? Plug in your expert advisor into Metatrader et voila! You’re own ready made ATM. Yes, and that wasn’t Neil Armstrong who landed on the moon, it was actually Gandhi. Go rip off your grandmother who taught you to be such a cheat! Don’t get suckered folks. Trading as a real business means you either need to work extremely hard on developing the discipline, having the necessary capital (don’t make the mistake of thinking high leverage will do it, or trading mini-lots or worse, micro-lots!) and losing a lot of money before you finally get your head in gear. It is a long, painful and challenging journey for most traders and there are no, no shortcuts.
Would you prefer that I lied to you? I thought not. But it is better you read this now than later on.
Source by Sam Beatson