is Forex Trading a Scam

In this video I’m going to break down is Forex is a Scam or if it’s not a scam. We’re also going to talk about how it works and how to make money from it.

Now: Just to clarify, this is not one of these videos, where I say. I’m honest and then recommend a product so you can use it and I get paid. That’s called being biased. I’m not. When ever you here use my link, although I don’t use it. RUNNING

Is forex a Scam and should you be investing, trading or risking your money in it? I’ve gotten comment, text and everything you could think of asking this question.

What is Forex Trading: It’s you literally trading currency and making an educated guess that whatever your betting again will go up or down.

– Most people say hey the US dollar is going to go in value so ill rebuy it the Euro and make money. Example.

Is Forex Trading a Scam

What most people don’t know

There are three ways to make money from Forex: how you’ve been an influence
Marketing:
You see on my videos and You’ll probably see it under this video, people telling you Forex is great, and they have a video on it.
– Youtube, Instagram, In-person and even in the mail
– They say, I know everything about forex, this is the perfect software or program.
– But they don’t care if you win or if you lose they care about the “commission they get.”
Proof Article on Commission for Forex: They only care about building you and playing a mentor role, but they are just a salesman.
What to do: For example, say I wanted to sell you guys something I would come here every day and tell you about this stuff and then try to get you to buy a product. “ That’s why out of 200+ videos, I only recommend what I use daily”

Teaching and Human Contact:
Online: People that create youtube channel or Instagram pages. But…you have to buy their course to get all the information or get their email list.
-Then you’ll notice that most if not all their money comes selling you course but not actually doing what they teach.
– However, if they retired from doing what they do, or decide to focus on different teaching.

In-person: Targeted facebook ad, friend tells you about it, or askes you to join program. ( now your hit by peer pressure and they show you how to start trading first without the real concrete methods of doing it)

These people: just want you to buy the course or come to the meetings to build their network.

Trading
– Before I did this review, I Read two books on Forex trading and trading in general. Tips I learned
1. You Loss by not doing the education
– Read the books, and take the courses by reputable people
2. Keep a record of your trades to avoid impulse buying
– Too many people are gambling, treat it like a real job, and remove emotion.
3. Trade small to stay relax and minimize loses
– Everyone wants te big gains, and never want to deal with the consequences of big losses
4. Most of these books talk 80% about you as a person and 20 about the actual trading. It’s more mental than anything.
5. Complex
– It’s not just the market, and inflation, unemployment that affect currency, its really more than that. So you have to understand all that.

Risk:
– Buying on a margin and with Forex trading you can do 10:1 and often people fo 50:1. Meaning per every dollar you have you can invest 10$ or $50. Example. You have 1k, and you invest 10kor 50k, and the currency you picked goes up, now you made a massive profit with money you didn’t even have. But if it went down, you would have to pay back all that money.
– Analyst Paralysis

What most people want:
– Someone to spoon-feed them the answers

* PRO TIP*
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