On the Internet, you can see Forex ads on almost every site, which promises quick enrichment without large financial investments. The offers look tempting, and it seems that everything is very simple: bought for $ 50, sold for $ 60. However, if you read a lot of reviews, you can see how many people have lost money on Forex and what a big disappointment awaits those who decided to try to make money there. So is it worth starting?
Forex is really hard work
Do not create illusions - Forex does not tolerate amateurs. Working on the stock exchange is hard work, requiring huge moral costs, which will take a lot of time.
Before a person begins to figure out what's what, he has to study a lot of books and articles, get practical experience. Practice, as a rule, is accompanied by the loss of money and many stop at this stage.
In fact, if you really decided to start making money on Forex, then you should be patient and be prepared to lose your deposit.
Before you start making deals on the currency market, you should learn the basics of trading, develop a trading strategy. A trading strategy is a set of actions and rules applied by a trader to make a profit or reduce possible losses.
You should ask yourself: how much you need it and are you ready to devote all your free time to studying charts and reading literature.
Should You Believe Advertising?
Do not delude yourself: a small initial contribution will not allow you to earn a lot. According to statistics, the earnings of successful traders on Forex is about 25% per annum. So to make a lot of money, you need to invest a lot.
Not everyone is willing to risk a large amount of money. Forex brokers provide their clients with a kind of loan (leverage), which increases the deposit several times (from 10 to 500). For example, if you deposited $ 500, then with a leverage of 100: 1, you can make transactions up to $ 50,000. At the end of the transaction, the money that the broker lends is withdrawn from the account. The remaining amount is your earnings.
Many people are attracted to Forex by the opportunity to earn a lot of money with minimal investment, but without special knowledge and trading experience this is almost impossible.
Why is it worth trying?
Working on Forex gives you the opportunity to gain independence. You will not have bosses, you yourself plan your working hours, your leisure time. A sense of personal freedom is something that it makes sense to fight for.
You can try your hand at the foreign exchange market without investing a lot of money. The initial deposit can be very modest and, even losing it, you will gain invaluable practical experience that will help in the future.
Working in the Forex market is very exciting and interesting and you are guaranteed a storm of emotions. You will receive a lot of new knowledge and, with a successful combination of circumstances, secure your future.
