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I recently enrolled on a Forex course to learn the ropes and learn how to use the money I've got and create some side wealth. I also had some interest because I find it fun and had done okay before on it. Before looking for courses I heard course providers saying that 'if you become a forex you are going to become a millionaire' and 'explode your wealth now!' Remembering from the 'TMF ' you need to be exceptional or have to start with large capital.
I read people saying it is fastlane and that you can make millions.
Now i'm on the course and on a live trading floor the vision has been shattered and for anyone who believes it is fastlane it is not. You have 0% control. You can do fundamentals and technicals all week but you can never expect this.. Yesterday the Swiss Dollar strengthened by 1800pips against the Euro out of no where. This has knocked out one to biggest brokers in the UK:
http://www.bbc.co.uk/news/business-30846543
Forex should be seen as a extra savings account and yes through compound interest you can increase your account to a good level but to do this you have be pretty amazing and expect that wealth will take around 15-20 years. You can become a millionaire but this is rarely done with £500 account within a year.
The best thing is that all the professional traders around me are looking to start their own business outside else where online... e.g a Fastlane business. I recommend looking it Forex as a way to increase wealth you have already created but do not look at it as a way of creating a fastlane life as not all strategies are 100%.
Alpari probably thought they were pretty fastlane... but with no control, your vehicle can easily swerve of the road.
I read people saying it is fastlane and that you can make millions.
Now i'm on the course and on a live trading floor the vision has been shattered and for anyone who believes it is fastlane it is not. You have 0% control. You can do fundamentals and technicals all week but you can never expect this.. Yesterday the Swiss Dollar strengthened by 1800pips against the Euro out of no where. This has knocked out one to biggest brokers in the UK:
http://www.bbc.co.uk/news/business-30846543
Forex should be seen as a extra savings account and yes through compound interest you can increase your account to a good level but to do this you have be pretty amazing and expect that wealth will take around 15-20 years. You can become a millionaire but this is rarely done with £500 account within a year.
The best thing is that all the professional traders around me are looking to start their own business outside else where online... e.g a Fastlane business. I recommend looking it Forex as a way to increase wealth you have already created but do not look at it as a way of creating a fastlane life as not all strategies are 100%.
Alpari probably thought they were pretty fastlane... but with no control, your vehicle can easily swerve of the road.
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