Navigating the Perilous World of Forex Trading

forextrading

If it seems as if I’m dwelling a bit too much on that period in my life when I lost my job due to the company I was working for going bankrupt, it’s because it really had a huge impact on my life and perhaps played the biggest role in shaping the man I am today – the businessman whose capitalist heart has been softened a bit by the realisation that even though it is indeed business as usual, we are indeed dealing with people and we need to be careful about how our business dealings impact people’s lives.

So anyway, I’m glad I decided to try my hand at business before even thinking about searching for another job with another company. Business was indeed something I’d always wanted to get into and I realised that I probably would’ve never taken the leap had I not lost my job in the manner that I did. Full-time employers have this way of taking over your entire life with the work they give you and so if you think you’ll work on your business endeavours in your spare time and become successful, you’re sadly, sadly mistaken. You don’t even have time to think after you’ve had to get your work done, so dare I say I’m kind of glad the company I worked for went bust, taking into account everybody’s severance packages that they received of course.

forextrading

Naturally, something like forex trading would be something someone who’s fresh out of a job would want to try and against my better judgement, I dove straight in. Again, at the time and looking back I might quite easily say that it was not a very good decision, but the lessons I learned out of it are very valuable ones and I’m all the wiser for it.

So I have some advice for anyone who is thinking about getting into the world of forex, the first piece of which advice is to go it alone in terms of learning the ropes.

Look, if you perhaps know someone who is also trading forex and they’re making a success out of it, then it’s okay to have them mentor and teach you, but what I mean about going it alone is that you should steer clear of those forex courses people offer and want you to pay for. I mean if I was making a success out of anything really, I wouldn’t rely on creating some training course to make my real earnings, as many of these existing forex training courses do.

The other piece of advice you can take from me about navigating the rather perilous world of forex is that you should not put all your money into it. That’s definitely NOT what I did, but I know quite a few people who did. You can make a lot of money within a very short space in time due to the gearing factor, but what that also means is that you can lose just as much money and you can even lose all your money within a matter of seconds.

Author: Oliver Curtis

Hi there. I’m Oliver. I’m just a young boy from the outskirts of… Okay, that’s a lie, I’m not a young boy anymore, although I certainly feel that way at heart.