Forex Trading - Scam😡😡😡

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Written by
4 years ago

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

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Written by
4 years ago

Comments

Forex have many difficult for me

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4 years ago

Its goanna be better if you keep trying

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User's avatar Pep
4 years ago

Forex is definitely for the strong And requires lots of studies and practice

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4 years ago

Because if you are emotional it will just break you down

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User's avatar Pep
4 years ago

Smiles,thank God you know,it wasn't a scam,you need knowledge and how to trade without greed to be able to trade forex

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4 years ago

True

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User's avatar Pep
4 years ago

I taught you meant it was a scam have to read through, well before jumping into anything you need to know how it works

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4 years ago

True even tho I learnt it the hard way and lost money

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User's avatar Pep
4 years ago

Your title is misleading.

$ 0.00
4 years ago

That's why its read cash you don't just read the heading and jump into conclusion that you know the body content.

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User's avatar Pep
4 years ago

Lol. No. It's simply click bait but oh well...

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4 years ago

Lol

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User's avatar Pep
4 years ago

Im stiil learning how to trade

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4 years ago

It is very vital you do so and trade demo first before jumping into the market

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User's avatar Pep
4 years ago

Very nice article. Thanks for sharing your s experience it will helps a lot.

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4 years ago

You are welcome

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User's avatar Pep
4 years ago

Thanks for the information. I've been considering learning about Forex trading.

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4 years ago

Its a very profitable business but get knowledge first.

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User's avatar Pep
4 years ago

Alright...thank you

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4 years ago