Is Forex Trading Worth It?
Welcome to a new blog post. This blog post will be about Is Forex trading really worth it. Is it worth the time to learn? Please remember I am not a professional trader and I am not giving financial advice. These blog posts are here to guide and give my own opinion on trading the markets.
Is Forex trading really worth it?
Depends. What do you want to do in life? If you never had to work again, what would you want to do? For me personally, I want to travel and teach people how to be happy with whatever they want to do. Forex is a tool for me. Forex is not a lifestyle or something to show off for me personally. I see Forex as a system and tool that I can use to enable to me create the life I want. Of course, to get enough money from this tool, you will need to have a good amount of capital.
The first step to finding out if Forex is worth learning for you is to ask yourself a few questions:
1)If I had unlimited amounts of money, what would I do?
2)What I value most in life?
3)What do you want to be doing in 10 years?
4)Who do you want to emulate or get inspired by?
If you have answered these questions, you should have a better understanding of where you want to be in 10 years and what you want to do. If you think that Forex can be a tool to supply that life, then I would suggest that it’s worth pursuing. For most people, they want to have freedom from a 9-5 job and have free time to do the things they love. This could be playing golf, going on holiday or going out for a meal. Within the Forex industry, a lot of people get into it because they see people making thousands every day within minutes. This is not something most people can do and it’s also something most of the people showing it can do. Just remember what you want to achieve and what your end goal is and work day by day to fulfilling it.
If you are going to pursue Forex as a way to create the life you want, then I urge you to set some time aside each day to learn. Forex is not a quick fix or a quick way to make money consistently. Are you are willing to put in hours every day for a few years then I would highly suggest learning how to trade Forex. Forex can give you the freedom of time and the money to live a life that most only can dream of. As I mentioned before, you will need substantial amounts of capital to create a good amount from trading. If you are risking 2% per trade and making 4%, a good amount of capital to be trading with would be somewhere around £100,000 if you are in the UK. This is not financial advice. This is my opinion and my thoughts about if trading the foreign exchange markets could be a good way to create a life that you want.
I have another blog post explaining what I would do If I started trading Forex again. There’s a process of learning how to trade successfully and a lot of people skip the most important sections of trading because it’s not what they think makes money. Psychology is one of the aspects of trading that gets ignored by new traders until they realise its the one key factor that’s stopping them from being consistent. If you want to learn more about what I would do and teach to a new trader, you can find it on the blog.
Cameron Fous is a successful trader and has a large following on social media. He talks about the truth behind the trading lifestyle and how people perceive trading. I think its a great video and I advise that you give it a watch.
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I have a trading community where I post all my trading setups so if you are interested In joining, please use this link: https://discord.gg/gP4DNwe
Thank you for your time and I hope to see you in the next blog post.