Should You Or Should You Not Try?
Hello, welcome back. I hope you are still keeping well and safe during these times, I am also just trying my best to stay alive. In S.A we just moved to alert level 1 of lockdown and our economy is slowly reopening, we are only praying and hoping for the best. OK, I have been answering this question about whether Forex trading is something worth trying or not.
Why Did I Start This Blog?
The aim of this blog is to provide practical and realistic tips and content that can be used by anyone. I am not here to give any form of financial or investment advise. I am basically just listening to the public’s frequently asked questions and answer through these articles. A few weeks ago, I published a blog post addressing the issue of untrustworthy Forex investments and that was after my email and social media were flooded with people asking me a lot regarding these investments. Most people were actually crying.
Why This Topic?
Since lockdown started, most people found themselves working from home and some people actually lost their jobs. There’s been a lot of uncertainty since Covid-19. Most people are constantly looking for alternative ways of making an income. Because of the current situation with Covid-19, the online world has really become an obvious option. Let me try to answer this question in a practical and a realistic manner like I always try to do.
You’ve been thinking about venturing into Forex trading lately. You hear your friends or your colleagues talking about trading and telling you how you can make a lot of money working from home, there’s a lot being said about the unemployment rate and folks on social media are also out there telling you how you can fire your boss in six months etc. You read about it on social media, you see it everywhere, you join every group of Forex traders on Facebook, and you even get those overwhelming inboxes from people who stay overseas (you know those people who are inboxing you daily and they want to turn you into a millionaire, they inbox me too because they never bother to check the profiles, all they want is to get to their next victim’s pockets) You are now thinking that you can actually be a millionaire by next year if you can start as soon as possible, WAIT!!! Let me give you a lesson or two on this subject and then you can decide.
Can Someone Really Make A Million Trading Forex?
Yes, definitely, there’s no lie there, but it won’t just happen though. There’s a process, some learning and investing money that should happen before you get there. Your earning potential is also highly linked to your start up capital. You can ask me all about it via WhatsApp (see the WhatsApp feature at the bottom of this post and chat with me)
Who Can Trade Forex?
Whether you have a full-time job, you’re a business owner, a student, a stay at home mom with no degree, whether you are male or female, you can. The flexibility of financial markets will meet your needs allowing you to trade at the set time that suits you as an individual since the markets are open for 24 hours/5 days a week. The age has caught up with the markets and trading has now shifted from the floor to the computer network which makes it easier for anyone to participate. It is a skill that anyone can learn with absolutely no need for any financial or economics background.
Who Should Stay Away From The Markets?
We all know that nothing is ever suitable for everyone, that’s not how the world works. A person who is looking for a quick buck without putting in any effort should deal with that first before venturing into Forex trading. A person who refuses to work on themselves and is always looking for things or people to blame whenever things don’t go right. A person who has a serious gambling problem. All the above mentioned are the things that can be changed though with the help of a good mentor & coach (that’s what I deal with sometimes) As long as you are willing to unlearn these habits and be coachable, you can get through such issues and start your trading career. I have helped a lot to overcome such issues.
Is There Any Risk Involved?
Of course, a big YES, there is a risk in trading just like risk is everywhere, but as with every other business, risk should always be calculated, and definitely it can be. That is why one needs to invest in education and acquire proper knowledge before investing some money. With proper money management skills, risk can be calculated. I recently published a blog post on this subject, you can check it out HERE. We cannot control the markets, but we can definitely control ourselves. The past few years of being in the markets have taught me that failure is mostly as a result of lack of self control and greed. For that reason, my coaching focuses more on trading psychology. I believe that if we can manage ourselves, we can manage our money.
Yes, Forex trading is worth trying as long as you can get education, mentorship & coaching. I hope this helps. Thank you for stopping by. Please kindly share this post with anyone that you think might need this content. For private lessons, mentorship & coaching, you can check HERE and grab your 20% OFF special for my last training sessions of 2020. Please stay safe and know that we are supported and there’s life after Covid. Keep the faith. You can also download our mobile App on Google Playstore so that you don’t miss out on weekly tips on trading psychology.