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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

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Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.