When I heard about Forex Trading I was so exited and I felt I could make good cash with out prior knowledge of how the market works. So one day after watching few YouTube video and getting motivated I decided to trade. At that point I knew nothing about lot size leverage and risk reward ratio; I just felt like making money.
So on that faithful day I deposited $300 which In my country its a huge money. I entered my first trade at 0.01 lot size and in few minutes I was already in profit. I was so happy then I entered another trade the next day which was on a Friday and it was NFP day which I had no idea or knowledge about it and what happens on that day so i was in profit and I was happy because I became greed and got in on 0.10. I exited the trade before the NFP time and I made $100 dollar to the $300 I had which made it $400.
Now I saw the spike in price just like the market moves on NFP days and I decided to enter a buy with a much more bigger and greedy lot size and the second candlestick retrace and my money was gone with no stop loss or take profit and it was just in a blink of an eye. I couldn't believe it, I turn off my laptop and slept hoping that it was an error; then the next day I turned it on and my balance was till $1.27 then it done on me as though the whole process was a scam.
With anger and all that I decided to take a break for some days and plan on how to get knowledge on Forex and then get my money back because with knowledge wealth will follow you. So I took time to learn more on fundamentals and all that is to Forex Trading and now am doing great but I haven't recover all my money yet but I believe I would.
So guys back to the headline
First; Forex trading is not a scam but some Forex traders are scammers
Secondly Forex is not for the weak.
Thirdly get knowledge first and money will follow you.
So you have to get knowledge to be able to get wealth. So empower your self with the right knowledge through books and news information from social media, television and radio stations.
Thank you so much for reading and please like comment and subscribe to my channel
Forex have many difficult for me