I Earn My Living With Forex

Familiar with the above statement?

If you look at clickbank and try hit “forex” keyword you will discover hundreds of search results on this. These forex publishers mostly claim they do forex for a living.

When I was reading some of the sales letter I came to imagine if thousands can be made thro forex everyday, then why bother writing ebook and sell it?

I am looking at 2 angles here in order to make fair opinions.

One – There are simply people who actually do forex and good at it but don’t intend to share their knowledge. They are keeping it to themselves because “forex time” is more precious than “writing a book”. These people need time to evaluate market fundamentals and judge currency pair that already on buy or sell signal. They make more money on forex than selling forex ebook.

Two – There are people who know forex and good at it but love to impart what they know. These are people who “find” the time to write ebook on forex or let the writer write for them. They just share their ideas and make extra from the market. Hey, you be surprised that there are already rich forex traders that want to give back by writing book.

Most in this group, however, I think is one step ahead in trying to profit from the market. They know very well that every day there are a lot of people who want to learn forex and in view of this market gesture they make quick money from selling books. I call these people true entrepreneur because they know when to gain for multiple income from the forex market. Imagine selling book online for example, you actually can make hundreds per book. The cost is practically nothing except for hiring ghost writer.

But a lot of people asked me, can forex makes them money?

Have you heard about this remark somewhere? “ There is high risk trading forex”. We normally find it on forex advertisement that gives a connotation that forex is seriously a high risk investment. But, high risk gives high return, don’t they?

My only answer to above question is that you really need to “learn the way to trade foreign exchange” or currency spot in order to make profits. Forex market is huge and the most volatile market. If you do not have the keys to profit, you are just “putting your head to be slaughtered”. I mean this market can simply wipe out your money in a matter of minutes.

You need to learn the skill, manage your money, plan the trade and trade the plan. In forex you cannot trade with emotion.

What about trading “forex using robot”? Well, my opinion is that robot is just a machine that is built using software script that has certain algorithm computations to read and trace trend and indicators.

There are good forex robots in the markets. My only suggestion is that you need to backtest these robots using demo accounts and judge for yourself. Ask for refund if they failed you. I mean if this is not real, why then reputable agency like FXCM is offering such service. As I said, you cannot trade forex based on emotion, the reason why robot would be the better deal.

Whatever your choice is, in forex you need to test and test before you trade real accounts. Never mind the long time taken to test your skill or thousands of beta trade you can do with or without robot. Be it 3 or 4 months, just be really good at it before trading real accounts. As I said in my earlier post, never use your savings!

Remember in any investment situation, you just have to do a lot of practices because practice makes perfect.

Happy investing.