So hopefully we have dispelled one myth on the cost of doing business for forex traders. But it still brings me back the topic of this article. Just because there are many traders who do make money and just because the spread or the transaction cost for forex traders is actually very low, and because it is very simple to open an account and access the forex markets, does that mean it's a place where the everyday person can get rich quickly?
Not a chance! If you want to get rich quick then you might as well go to Las Vegas and blow your money there.
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It's more fun, you will get free drinks and the more you spend, the more the casino will look after you. The chances of getting rich quick by gambling in Vegas are of course very slim about the same as getting rich quick in forex I would guess but at least you can have a good time while you 'get broke quickly'.
Off to Forex Trading Show
Why intelligent people who have diligently saved all their lives to get some wealth behind them, sit down in front of a computer screen all by themselves and do exactly that - get broke quickly and 'gamble' rather than learn to 'trade' the forex market - is absolutely beyond me. We all know it takes many years to become a professional in any area of life.
Doctors, lawyers, teachers, accountants, electricians, builders, all professions require many years of study, practice, mentoring, experience, hard work, blood, sweat and tears before someone is a true professional. Why do the same smart people expect trading to be any different? I am in the business of teaching people to trade the markets so I undoubtedly have a somewhat biased view on this but I honestly believe that anyone with the right attitude and approach to the markets can one day profit from them - whether it be forex, stocks, bonds, options or futures markets that they choose to trade.
The right approach is a focus on learning not profiting in the early stages, getting mentored by someone who has achieved what they want to achieve, focusing VERY heavily on risk management and protecting the capital that they have and equally as importantly, having realistic expectations about how long it will take to become a successful trader. If you want to get rich quick in the forex markets then all you are going to do is prove to the rest of us that there is no such thing as a get rich quick scheme.
Novice Trader's Guide to Trading Forex Profitably - Forex Training Group
Please don't! We do not need any more evidence. Lots of people do make money in the markets and if you are prepared to commit to it then it is a possibility for you too. Making money 'slowly' is the key, trading is a profession just like any other.
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Out of interest - you may like to see this clip of a young chap called John Key making his living as a forex trader in his early years. Long before the 'Right Honourable' was added to his name. Website of the Year.
NZ Herald. One benefit of this strategy is that our traders can work flexible hours, including in part-time and full-time positions. And since all the work is done over the web, traders have the option to work at-location or remotely, provided they have high-speed internet access.
Maverick Trading is one of the oldest and most experienced prop trading firms out there, and we are ranked as one of the top trading companies in the entire industry. We have lived through multiple bear and bull cycles and understand how to profit in any financial environment. This means we are able to train our traders how to tackle even the most challenging situations.
Our emphasis on risk management and mentorship keeps our traders ahead of the curve.
Forex Trading Training
Often the best candidates have a background in math, finance, and business, and any experience in trading or investing is a bonus. We have an in-depth application process that explains what prop trading is, our training methodology, and how we support, fund, and pay our traders. These steps prepare you for your interview with our recruiters, where you can ask any remaining questions you have and discuss why you are a good fit for the position. You will watch a short video on Maverick Trading and its Capital Sharing Program that details how you get both funded and paid.
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