About : Forex
Would it possible for all of us,
a) Fixed Deposit, making 70% return of investment (ROI) in 20 years or 3.5% annually.
b) Unit Trust, making 70% return of investment in 10 years or 7% annually.
c) Shares, making 70% return of investment in 5 years or 14% annually.
How about Forex? Would it able to generate 70% return of investment in a year?
Forex is a actually totally different thing. It is a very very risky investment. There are rules to be followed:
a) Starting low at USD10 or USD100.
b) Reward and Risk which mean the Target Profit and Stop loss must be used.
c) Potential Risk Reward should be 1:1, 1:2, 1:3, 1:4, 1:5
d) Each trade, investing 10% to 15% per trade.
e) Use Compounding Interest
f) Develop a simple way to win and to lose.
g) Using Chart for the low and high.
It is quite similar to gambling Risking & Reward as well as the Possibilities of winning and losing percentage. Practice first before jumping in with real money because it always makes us losing money due to emotion meltdown, and inconsistency.
Would this become a financial freedom? Who knows. Only the best win.
Which one is you?
Successful traders are great at identifying opportunities because they understand the market. They’re also humble enough to realize quickly when they’ve made a bad decision and hastily back away when the market goes against them.