It’s very hard to tell who is really an expert at Forex trading when everyone these days is a self-proclaimed expert at something, right?
What if people could actually follow someone’s Forex trading advice and get super-rich?? Well, actually the problem is learning who should you follow??
What is Forex?
Forex is a foreign exchange market that is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. Which includes all aspects of buying, selling, and exchanging currencies at current or determined prices.
All Forex traders aspire to become successful traders, each one is out to make a name for themselves by scoring that one big trade gaining industry recognition and going down in history.
Who Is The World’s Most Recognized Successful Forex Trader??
George Soros is a Hon FBA, Hungarian-American investor and philanthropist. As of February 2018, he had a net worth of 8.3 billion USD (2019), having donated more than $32 billion to his philanthropic agency, Open Society Foundations. Soros is deemed to be the world’s most recognized successful Forex trader and held as one of the greatest investors in history. He gained his reputation as a legendary money manager by reportedly profiting more than £1 billion from his short position in pounds sterling! He made the smartest move in Forex trading history famously ahead of Black Wednesday, 16 September 1992.
Becoming a Forex trader is one of the smartest ways to earn a serious income from anywhere. To be successful requires investing time to learn the basics of currency trading.
“You’ll need to learn how money management, plays a major role in determining the effectiveness of the trading methodology.”
It might be difficult for new traders to understand the functions of different types of technical indicators. Additionally, most new traders who are not properly trained or certified tend to skip steps such as learning stock history, futures and neglect to study foreign exchange markets.
The biggest problem is that new traders start out very enthusiastic and dedicate time to only focusing on how to master being profitable.
New traders who focus on only mastering profitability, may actually start losing money.
Focusing on mastering only profitability makes it harder to find a “trade system” to “spot high profitability trades” for long term consistency.
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