Do the terms Pips, Bid, Offer sound foreign to you? If so, you should probably stay away from this. Forex is basically short for Foreign Exchange and what you’re doing is trying to profit from the movement of currency. Your profit will be based on the ‘Gap’ of your pips. For example, if for every dollar you make 1 pip (0.0001), then for every $1000 you trade you’ll earn $1.
Only $1? Lol, nobody invest only a $1000 on Forex, people generally blow about $10,000 and the pip movement is usually around in the 0.0003 – 0.001. (Trade Secret: Psychologically, speaking, pips love to move in multiples of 5, which means you can already multiply the values I’m about to state earlier by about 5) Which means you’ll make about $100 per trade or in converse lose $100 per trade if the currency doesn’t move in your favor.
And guess what. It all happens in a split second.
That’s why Forex is extremely risky. Its movement is extremely volatile and you can be losing thousands every second or making thousands every second. You need both the investment and the appetite to stomach risk if you want to play Forex. Else, please choose some other safer option.
Also. Stat shows that 99% of the people who play Forex lose. And all the money lost goes to the 1% who basically has insider information on how to play the Forex game.
However, if you’re STILL interested in playing the Forex game, we have an interesting course that basically teaches you the ins and outs of Forex Trading, including the psychology behind it. It costs $2997 so there should be some interesting information in it that you can learn.