Hi my name is Genesis, I’m 20 years old and I’m here because a friend of mine told this was a super easy way to make extra money. I’m having a daughter in 2 months and I want to be able to give her everything she could ever want. I’m diving into this trading business for her and my family.
Hi Genesis.P, and welcome to the forum. At risk of letting you down, I am sorry to disagree with your friend. And I have been at this on an off for 30 years. It is far from super easy to make extra money by trading. Most brokers now advertise a caution that xx% of traders lose money, where xx varies between 78% and 90%. In my opinion, the percentage of traders who lose money or make less money per hour than they could flipping burgers is over 99%. So it is not easy.
However, I am eternally optimistic. So please ask your friend why she thinks it is easy to make money, how much money was used to start trading and how much profit has been made to justify the statement “super easy way to make extra money”. Just remember that (like social media lives) is is trendy to tell all your friends how wonderful your own life is and exaggerate slightly on the positives whilst not talking ever about negatives. And having a daughter in two months makes you super vulnerable to positive suggestions about how easy life will be.
Please take some time to start the School of Pipsology training material on this forum, to get some basics, but seek other forums or opinions from a broad audience before assuming the grass is always green.
Best of luck with the little one.
It’s super easy to lose all of your money. All you have to do is press a few buttons on a broker phone app.
Please do not even consider trading forex until you’ve learnt how to trade properly. Otherwise it’s just a speculative gamble.
Your friend is talking garbage…
Hello and welcome to the community! Babypips is undoubtedly one of the best places for you to learn forex trading. You can start with the school of pipsology and post your queries here. Experienced traders over here would love to help you with their expert advice.