Elders which are the commendable youtube channels to learn this trade?
This week influencers on social media wamekua wakitesa sana hapo Instagram sana and recruiting members, who are signing up for the forex classes claiming the trillion dollar industry can make anyone wealthy in a blink.
This morning ive downloaded the MT5 app then also downloaded an app called MT5 Signals. Seems like there is a winning pattern here with good returns. How did you learn the trade>
I agree that most of the money is in “training”. I disagree that forex trading is a myth. Forex trading is not a myth. However, 99% of bonobos can’t pull it off.
Secondly, 99% or the remaining 1% who can profit net of fees can’t do it full-time because their accounts are not big enough.
Ukiwahi ona mtu anasema he trades fulltime jua he is full of crap unless he works for a hedge fund with the 2 and 20 fee structure. Those are the only people who can make a living from trading because they have both brains and capital (other people’s money).
It’s very hard to make a living exclusively from trading if you don’t manage other people’s money and charge them fees. Let’s say that you are a highly skilled trader and your risk adjusted returns are 30% per year. You would need at least $200,000 in capital just to support a $5,000 per month lifestyle. You will need double that figure if you want to keep half of the profits in the business for compounding purposes. Add an extra $100,000 as a buffer for black swan events in markets like some currency de-pegging.
As you can see, for you to afford that “instagram” lifestyle from trading (to flex on broke boys), while growing your business/other ventures, you will need at least $500,000 in capital and the skillset. Both are very hard to achieve.
If you have the money but you lack the skills, you will lose the money. If you have the skillset but no money, you won’t make any money. You must have both.
That’s why its just easier kushika a Mercedes GLE, some expensive liquor, and some biachez to front on IG and sell courses and bots to fools. It’s easier to make money from faking it than from actual trading.
I know someone who claims to have made 20M+ in the last few years and is currently offering forex classes. In reality, he is just a smart, above average young man. He drives a beat up first generation passo. If enough fools buy his course, he may upgrade to a new and better car soon and boast vile trading has made him rich.
Most of these trainers make money from training and bots than trading.
I do not know about forex but I can say something about binary options and bots
it’s all about stategy and A LOT OF GOOD luck. It’s not simple and easy to print dollars like these “scammers” claim, else the brokers would be out of business.
after inspiration from tiktok’s “dollar printers,” I decided to try. I downloaded some free bots online and tried them on binary.com demo [SIZE=2](I can’t buy a bot. It’s foolish.)[/SIZE]. Nikaweka kitu 15k ikaenda ikabaki $15 instantly thanks to martingale (which multiplies the stake after loss)
I quit for 1 month +
I tried again with more caution and some luck … I grew the $15 to almost $500 in 3 days. In the third day, I had made $300 (40K) profit in a few hours. With a low stake of $1-2, I was making $30-60 per hour since the trend was in my favor
I was envisioning making 1m+ per month and quitting the tiresome and dying writing industry
I withdrew almost 30k. Sadly, I blew the rest with martingale due to greed, overconfidence, and bad luck
Sasa nimeacha. I will try again soon.
Just like writing, I can confidently say there are some making good money on forex and binary options. But you won’t find them online selling classes and bots.
Kuna time nikiwa impressionable yutman nilijipata na hundreds of fellow professionals pride Inn Westy jioni moja ati tunafunzwa Forex trading. Nilicheki hao Boer South Africans wamedunga masuti nikajua we are being taken down the slaughter house road