Forex trading is a great way to make money fast. Do you have to know everything about the market before you start making money? No, you really don’t.
The Forex industry, as attractive as the market might be, is headed in a bad direction. Many Forex services whether they are brokers, signal providers, or just general Forex websites are going about their marketing in a totally ineffective way, and are thereby preventing themselves from turning over any profit, or at least making a smaller profit than they could have made.
Too many people have a negative impression of the Forex industry and associate it with shady markets, and not with the serious global markets, to which Forex should be compared. If there is anyone to blame for this, it is the Forex players themselves.
Before we talk about some steps Forex companies should take, let’s examine what the Forex companies are doing wrong. If you look at the average broker or service provider in the Forex market, you will generally see one thing in common. They all promise immediate and large scale results. This is of course false, and misleads people, which ultimately causes a bad name for Forex as an industry.
Forex is not a magical solution and generally speaking, no one is becoming the next Bill Gates over night by trading Forex. Yes, it is the biggest market, yes, there are 3-4 trillion dollars traded daily in the Forex market, but you will almost definitely not see any of that money without preparing yourself before jumping in. Learn the market, study the charts, understand the financial news, and pay attention to the experts and Forex signal service. These are just some of the basic pieces of advice I would give a new trader.