Hello guys, this is my first post in this community. My name is Iman and I am from Germany. I am trading Forex for over 4 years and today I want to talk about why many people have a bad imagine of Forex and think that it's a scam.
First of all, I need to say that everything in this post is my own opinion and experience and I would love to hear other opinions too :)
For those who don't know: The foreign exchange market – also known as forex or the FX market – is the world’s most traded market, with a turnover of $5.1 trillion per day.
To put this into perspective, the U.S. stock market trades around $257 billion a day; quite a large sum, but only a fraction of what forex trades.
Forex is traded 24 hours a day, 5 days a week across banks, institutions, and individual traders worldwide. Unlike other financial markets, there is no centralized marketplace for forex, currencies trade over the counter in whatever market is open at that time.
Trading forex involves the buying of one currency and simultaneous selling of another. In forex, traders attempt to profit by buying and selling currencies by actively speculating on the direction currencies are likely to take in the future.
Seems to be easy, isn’t it? But what's the problem and why people think that it's a scam?
Well maybe kinda obvious but Forex trading is not easy but it was then everybody would do it and make a lot of money.....
The problem is not that Forex trading is not easy more but some people pretend that it's way too easy and everybody and made a lot of money in a short time. Believe it or not, there are enough people outside that believe those scammers and fail and think that all is a scam...
Let's be honest.....it took me over 4 years to understand the forex market to make constant profit with it....and now some people pretend that it's possible to shorten the whole way in 2-3 months?
The next problem is even if you work hard and understand the market it's still not a guarantee that you will have success....at the market does what it wants to do.....it doesn't matter if you have the perfect set up for a sell or a buy, the market can still work on your opposite.....and not everyone can win but that must also be obvious cause when some wins then someone else is losing...
You really must be after it is successful in this business and you must know that it will not be easy and it will never be...Making money with your Smartphone is very hard but possible and that's exactly the reason why its such a special thing and not everybody can achieve it :)
I hope I could clarify some main problems when it comes to Forex trading and I am excited about your opinion!
With regards
Iman Iranmanesh
