The Dark Side of Forex Trading: Fake Gurus, Scammers, and Gambling
My experience exploring the lucrative money-making opportunity of forex trading. I was hoping to make quick bucks, but ...
I tried to experience forex trading on my own to explore the lucrative money-making opportunity recommended by my cousin back in 2016. I was hoping to make quick bucks. I seriously found it possible if you have the money that you can afford to lose. The up and down can be extremely fast in the blink of an eye.
The moment you realize, you might have emptied your trading account. On a particular trade on Crude Oil WTI, the buying “Buy” back then, the profit line really reached $1k with just a $100 I deposited. I felt like I was somehow an expert in forex trading. I started to show off my trading result to my friends and even thought of firing my boss. With this amount made in a day, I could be a full-time forex trader just with a few clicks on my phone.
Little did I know, greed and lack of proper knowledge of forex trading led me into the gambling stage. Buy low and sell high basic understanding is equal to saying my mother is a woman. Who doesn’t understand this point?
The Reality of Forex Trading
The excitement of getting a profit of $1000 in one night sounds exciting, right? But if you didn’t set a point of taking a loss, you are asking for trouble. The line you are trading for can go opposite of what you are praying for. You will end up making a loss of a few thousand the next morning you wake up.
Fake Forex Trading Gurus
Then here come the fake gurus and scammers preying on your greed and laziness. They show you fake trading profit results with just a few clicks. They tell you fantasy stories, flashy cars, houses and even use pretty women. Some use technology and AI to trade on your behalf or offer to trade for you.
All you need is to sit back and collect your profit without any sweat. I heard it somewhere, someone quoted this. “Unless You Are His Way of Making Money” which means he is milking money out of you instead of doing the real thing.
Conclusion
Yes, forex trading is a very tempting money-making opportunity for ordinary folks like you and me to give it a try hoping to get rich. True traders take years of learning and understand the world news affecting the market and the movement of daily trade.
There is no free lunch in this world. Remember, you can give it a try on Forex trading but with money you can afford to lose. Be humble and wish you stay safe in the internet world.
NOTE: This is my first contribution to Express Yourself and I really appreciate being part of this publication and having an opportunity to express myself. Thanks to Treathyl Fox aka cmoneyspinner.
