I always thought that forex was some sort of scam or get rich quick scheme but the more I read about it, it seemed like a great way to supplement income. I am a total newbie, and I hope to learn with others as we go on this journey.
One thing I have been told and I am seeing however is…
It is a get rich quick scam - that’s the reality for 90% of newbies. Albeit it will be your own making when you lose your capital by not being disciplined and managing your risk, and not controlling your emotions at trade outcomes.
Forget income - it’s not a 9-5 job, on forex it doesn’t exist. You’ll get profit and losses, and by learning how to trade profitably, in about 8 months time, you might be able to breakeven.
Welcoooome Wandu! Haha. Forex is definitely not easy and there’s so much to learn before you actually become profitable enough. But I hope you’re motivated enough to get there. Good luuuuck!
Due to many instagram pages and many scam websites you might be inclined towards the thought that the forex market is a scam but it is not just find a regulated broker for yourself and create a demo account with them and you can surely check whether it is a scam or not.
HAPPY TRADING
Welcome to Babypips! I am sure that you would have already started learning. If not yet, you can start with the school of pipsology to obtain basic forex knowledge.
When I entered the forex market, my sole aim was to make profits. I didn’t care much about learning and clearing my basics and the obvious result was my losses. It was then when I decided not to fall prey to the alluring situations and analyse the market properly without risking my money.