6 common misconceptions in Forex.

thread ......

first in the series, let's see the attention this will get, or not. one of the easiest ways to get attention on any topic is to tackle misconceptions and try to be somewhat contrarian, so that's what we'll do (don't say anything) but I'll try to stay close to d truth...

1. you can easily make money trading forex. well, not quite, in fact this one makes me laugh each time I hear it, while yes,you can make money from forex, it is far from easy, in fact you are more likely to lose all your money than to make anything, but don't get discouraged..yet

2. you cannot make money from forex. well, another lie, and I know this sort of contradicts my first point, but don't let anyone that didn't try hard sway you, you can make a few bucks or much more, depending on what you do in forex, how you do it, how far you are wiling to go...

well, it's not that simple but for the sake of this thread, let's keep it simple... for now.

3. you can learn how to trade in a few weeks. this one is not so much of a misconception as a really inadequate statement, you see people have different learning curves, and we learn things quite faster than each other, but thinking you can master Forex trading and go live...

...in a matter of days or even a few weeks is simply unrealistic, considering how volatile this industry can be, trust me when I say you really want to take your time learning before jumping in, and yes I'm talking about months of intense training and practice..

4. you don't need to learn how to trade, just use signals. this has to be one of the most dangerous mindsets you can have as far as Forex is concerned, and the reason is simple, most signal providing services simply don't work, but some do, and even those, you will need..

..to have a certain degree of forex knowledge already to be able to fully optimize them and modify to your needs, simply taking orders are just not enough.

5. Lambo overight?? yes, the big dreams, house on the Island, all from forex?? yes, it's possible but not open to everyone, it's literally reserved for the 1% of 1% of spot forex traders, and there are steps you must take, funds you must have access to and other etc..

...that would take an entire book to explain.

let's take a final one and maybe we'll do a part two (Nollywood style) in case I managed to get your attention just like Nollyw... nvm

6. Forex tutors don't actually trade. I'll admit there is a little bit of truth to this, some tutors have built an entire career just from teaching alone, but that's not a general fact, some of us are on top of the market each day, and while the education is well an added stream

...of income, guiding others away from popular missteps is just as fulfilling, too many bad traders out there because of terrible teachers that don't actually trade or have no results. This is not really a misconception, but not entirely true either.

follow me for more tweets on the forex market like this, we have not even scratched the suface, also check my bio for my telegram. ifb