This prolly isn’t the place to post this but I don’t want to get fed bullshit by these weird forex people
Lately on IG I’ve been seeing a lot of stuff about forex .. where it seems like people have to buy in and they will get like rankings like platinum 600 /platinum 1000/chairman 25/chairman 10 and they will post like these really weird edits of them dressed up nice with their ranking and congratulating themselves ... kinda seems like a pyramid scheme from the little ive been able to gather? Wtf is this shit
I hear about forex on a weekly bases now, but everyone who explains it makes it seem like I’m joining a pyramid scheme. I trade regular stocks, and people say “your smart you just need a family behind you”. Stocks don’t give me the quick money I’m looking for. I’m looking to made 30 dollars a day, or at least 200 a week. Is that even possible with forex? People tell me I have to put in a thousand dollars to start trading is that true? What is this whole “join my family” thing people keep bringing up? Lastly, if I wanted to independently trade in forex could I? don’t want to get rich quick or replace a job, just some money to buy food through out the day. I hear that there’s different platforms to trade on or brokers to use, what’s a good one for my short term goals?
So as guy with a background in Tech, I have realised that Forex has many similarities. Forex is not that hard, it's just that people are never told much about it.
Back in the day, we techs would have all kinds of keyboard and mouse tricks to do things quickly, and to impress people who were looking. But we never actually told anyone how to do those things.
Forex is the same. There are tricks to trading that traders don't tell anyone.
Most people who became good with computers either studied it, or dabbled with it for hundreds or thousands of hours, and yet some would still fail.
Comparatively, this is the same way that people learn and also fail to learn Forex.
They say that 90% of people who trade Forex will fail.
Have you seen how adept the average computer user is at using a computer or fixing it's problems? Not very much. This is the same with Forex.
New hardware and software gets released every few years. This changes the way we operate with computers. Some of the old things work, but not always in the best way.
With forex, the market changes and new strategies are developed too. While the old strategies work, sometimes there are better ones available.
Often computer problems come up and there is no logical explanations for why it happened. And textbook knowledge don't offer any advise in solving it.
In Forex people are often lost on how to trade, and their theories and strategies don't work.
With tech, people often hear about a program or device that can do fantastic things. But they know nothing about actually using those programs and devices. They get them anyway, and end up being confused while screwing up their computer.
In Forex, people hear about a way to make money. They don't actually know anything about it. They do it anyway, and then they actually lose money. I could go on, but you probably get the idea now. My point is that Forex is not impossible. Most people just can't do it because they have no education or skill in it. That doesn't mean it's impossible to do. However, it is hard and frustrating. Personally I find it much easier than IT though.
Looking to speak to people who have lost money on Forex scams for Vice UK
Hey, I'm a journalist at Vice, currently writing about influencer forex scams. I tried forex myself and wrote about encountering some scammers earlier this year - https://www.vice.com/en/article/jgexk3/forex-trading-help-tips-make-money-online. I'm now writing another piece specifically about influencers and reality celebrities offering signals/ trading groups etc on Instagram and I'm looking to speak to people who have been caught out by them. I'm hoping that sharing these stories can stop other people losing out and also put some pressure to stop unscrupulous behaviour by certain celebrities who should know better! Get in touch if you're interested in chatting - either reply here or feel free to message me if you'd prefer. Cheers! Hayden
I haven’t been working at Kroger for long, since January and man I want to quit, I don’t have a necessary reason other than I hate bagging, my supervisor and the other managers(excluding some) treat me like I’m a kid and not a co worker because I’m 17. I got my open house money which was 2k I want to roll the dice with this forex trading and my clothing company aswell, also dropshipping if I lose interest in forex, Ive been seeing this forex people make thousands in literal minutes, using techniques and leverage, etc. not just YouTubers or Instagramers, people in real life, make liter thousands in minutes with like 500$, and I know the forex route isn’t a good rich scheme and stuff like that, I’ve really been studying it to learn, my family doesn’t believe I can do anything other than a 9-5 like them, go to college and live in debt for the rest of my life, I’m sick of it also the fucking “Hero” pay is gone, the customers treat me like shit. I’m going on a tangent but I’m sorry I’m just mad. I literally asked my grandma if I made 10k in a week could I quit and she said no 1. Because she doesn’t believe I could ever do that, and also it’s not good my record, but it wouldn’t matter because it a fucking high school minimum wage job, no one in 7 years gone look my my Kroger experience and be discouraged, I get it if i get other jobs soon, but, idk man I’m just mad and I don’t make sense. Tl;Dr I don’t want to work at Kroger I want to do other things
Is the forex market illegal? Why do people keep doing it?
I am very curious about the forex market and all that investment things but I am not familiar with it. I want to start trading but I have read some stuff saying that forex trading is illegal. Is it true? Or have I read the wrong thing? I think that these legalities depend on which country you are in. But in general, is trading forex allowed globally? What are the restrictions that come with this type of trading? Also, there are different forex trading platforms being introduced and it’s quite difficult to pinpoint which one is legitimate and which one is a scam. I’m planning to actually invest in one but I’m not sure which one to choose. I found one called Gainsky, but I wanna make sure that the company is legitimate and doesn’t do illegal stuff (if forex trading is illegal). I checked the system and they offer really competitive strategies that I think are really good. They offer some kind of teams where you join them and follow their strategy? This I’m not sure, but that’s why I'm asking your help guys here. Have you heard of this company? Any reviews you’d like to share? Please help a fella out! Thanks!
What percentage profit of your account do you hope to make per trade?
I've come from trading forex, and decided that stocks are a much better alternative. With forex people try and aim for 1-3% for each trade for intraday trades I know intraday trades are less common with stocks, but is that Still possible? I guess I'm wondering if that's possible with the typical 5x leverage
I think a lot of people would be better off realizing that even if everyone said f*ck all, let the weak die and get back to capitalism, we’d still be deep inside a recession for years due to the fundamental weakness in the market prior to covid 19, for reasons not related to covid 19.
Covid 19 was a catalyst that drastically accelerated a decline that was fundamentally primed to happen for years due to broad, flamethrower polices, regardless of this event. It’s just a hell of a lot worse due to covid 19. Market cycles are natural, ups and downs are good. But if you have year after year, increasingly aggressive policies to bolster the economy you end up building a castle on sand. Most politicians here thought “What’s that? I can enact aggressive short term policies that would post pone an economic decline? Well we can’t have that while I’M in office. Buy buy buy, sheep people! This is the new paradigm that will go up forever due to our endless spending and rock bottom interest rates.” Then a fundamental event happens that stops the irrational growth. Could have been anything. But it ended up being a category fucking five hurricane named covid 19, and that did not treat that foundation of soft sand nicely. There’s a lot of talk about “getting the economy back on track ASAP, letting people get back to their jobs and giving them spending cash to stimulate the economy! Sure the old and weak die, but we free up trillions of dollars in pension debt while they’re at it.” Even if the most cut throat, soulless policy was enacted to ignore covid 19, the economy would continue to spiral out of control due to the long overdue nature of this decline. It’s like the economy was a car in a marathon race. The politicians are driving and the car is running low on gas. So they decide to slam a bottle of 190 proof grain alcohol and piss in the intake for a nice little boost. Yeah, that won’t have any consequences. They won’t fall behind the pace! Not on their watch. The engine is fucked, if everyone pretended the engine wasn’t fucked and continued to piss in the intake, it wouldn’t help. In fact it’d make things far worse and you’d probably have to spend even more money than where we are to fix the engine down the line. That was my rant, thank you kind forex people.
My journey growing my passive income: Forex copy trading
Dear passive_income redditors, For years I searched ways to enable me to earn enough passive income to cover my daily expenses. I have tried literally everything online I could get my hands on, not all of them being 100% passive. Matched betting and value betting for example made me a couple of grand, but were about 10 minutes a day and were not scalable at all since I got limited very quickly. Crypto investing made me some good money, but also a lot of stress since it was the Wild west in comparison with traditional investing and days could turn out to double your investment or half your investment. Besides that I purchased a real estate property partly from my job earnings and partly from my crypto realized gains and am starting to rent it out (I know, we can debate whether real estate is passive, but that is not the intention of my post). Things that lost me money were dropshipping businesses, Facebook ads, and a lot of other silly stuff. But I found a hidden gem to make passive income easily. Earlier this year, around March I came across copytrading within the Forex market. I started in April 2019 with a deposit of $5,000. Today, June 12th, it's worth $5,800+. On average I got a 7-8% return in April and May on my deposit. While this is immense, it's more conservative to aim for a return of around 5% a month. The idea is as follows: you copy the trades a professional and profitable trader makes by automating the process using optimal software. You pay a monthly fee to cover for the traders' signals and connect a VPS to these two. I'm not a technical guy at all so I pay a legit business 25% of my net earnings to set it up for me and monitor it daily. They also fix your account when errors appear once in a while with the software. This way your accounts follows a masters' account managed by this professional trader and just copies his trades automatically. The traders you can choose from have historical track-records. The one I follow averaged about 6.7% compounded monthly since the start of his account in 2015. Resulting in a total gain of about 1850%-1900%. This is a 19x initial investment in 4 years. By using welcome deposit bonuses that different Forex brokers offer, you could double the gain or halve the risk (something I definitely do). This method is 100% passive and there is no chance of someone being able to access your money since the trader that provides the signals never has access to your account. Your funds are between you and the Forex broker you sign up with. So you are at control of your money 24/7 and able to close trades whenever you want as well (not optimal to do). Is it too good to be true? If you think this, I can't blame you. I always read these scams of Forex people on social media and I've experienced different ''too good to be true'' situations in my life. But remember, your capital can't never be accessed and these people have track records. In the 9-10 weeks I participated now, every week was profitable. Highest drawdown that occurred was about 6% (which is only virtual). So don't take it from me, but try it. Keep in mind that the only downside is with a 5% return and the monthly costs of 75EUR you have to have a capital of around $5,000 to start with to be able to make good returns and let it compound up. TLDR: copied someones trades in the Forex market using automatisation software. Paid 75EUR a month and made 16% in 9 weeks without doing anything.
Why do people say forex trading is not profitable and you'll loose your money?
Like if you jump in directly obviously you'll end up blowing your account, you'll loose hell lot of money But if you properly study, practice,make a strategy you will follow Have a risk management plan,learn the market and basically just put it effort in it,why won't you be profitable You can't just jump into anything and expect to become a millionaire,you need to work for it Example becoming a doctor, No one can just go into an operation room and start operating,you need years of practice and experience Same goes with forex,but the reward might just be a little juicier Soo don't be disheartened by the 90% loose money And keep realistic expectations,you can't expect to earn 90k a day without putting in the effort So guys wish you all the best and just work hard and practice man Form a proper plan and just stick to it
10-20 16:56 - 'I work as a cruise line engineer ,but I later came to realize how lucrative investing in bitcoin business is. I’d like to share with the first ten interested people to send me a DM.' by /u/Forex-god removed from /r/Bitcoin within 40-50min
So I just wrote down an ebook on Forex price action. It's free! But I'm scared people might use it to rip people off.
I don't mind it being shared, I wrote it in order to help people grow and learn new things. What I'm worried about is that someone might plagiarize it and start charging for it. It already has a link to buy me a coffee, but I don't see anything that could prevent just deleting that with paint, reuploading and selling for like 20 bucks lol. What steps can i take? And if it happens, how would a lawsuit follow?
10-20 17:46 - 'I work as a cruise line engineer ,but I later came to realize how lucrative investing in bitcoin business is. I’d like to share with the first ten interested people to send me a DM.' by /u/Forex-god removed from /r/Bitcoin within 144-154min
Am always seeing my clients getting some big wins It's bring me joy when you also testify to people how I help you to make it, DM to make your investment also, time wait for no one #spain🇪🇸 #bitcoinmining #forex #bitcoin #crypto #cryptocurrency #investment #millionaire #millionairemindset
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