Don't be a sucker!!
One of the first things you must learn about the Forex market is that although it is enjoyable and exciting, there is no magic button that will instantly turn your pennies into millions of dollars. You may have already heard about Forex scams that are filling the marketplace. These companies purposely mislead people into thinking that making money in the Forex is easy and that they have found the “Magic Solution” to raking in booku bucks with a simple click of a button.
Sadly, the number of Forex scams is rising. The Commodities Futures Trading Commission (CFTC) released a report citing that in recent years, they have seen a sharp increase in the rise of Foreign Exchange scams. The CFTC warns consumers to be cautious of sales solicitations in newspapers, radio or television. You’ve probably even seen some of these companies. I hear about them all the time from people whenever I try to explain the Forex. The first thing they say is that they think the Forex is a scam. That makes me so angry! The Forex is a tremendous investment opportunity for people and because of these scammers, they miss out on a good way to make money.
The truth is that no matter how you slice or dice it, education is the only fool proof way to consistently make money in the Foreign Exchange. Even after you finish reading through BabyPips.com, your journey as a FX trader is only the beginning. I have never met a successful Forex trader who stopped learning. There is always something new to learn and you must actively seek out as much information as you can.
The best investment you can ever make is in yourself.
Don’t spend your money on a company that promises huge returns; even if they show you their track record. It might look pretty and colorful; and I’m sure that the line on the graph that seems to keep going higher and higher makes it look like there is no way you could lose money, but don’t let them fool you. In fact, I could take my broker statement right now, touch it up with Photoshop and voila! – I have now just become the most successful trader on the planet. Pretty impressive huh? I know I’m laying it on pretty thick, but I really want to prevent you from falling into any traps. Instead of giving your hard earned money to someone else, you could put that money aside into a trading account and take the time to educate yourself.
Notice that I didn’t say you should put your money into a trading account and start trading.
Keep that money in your account and gradually add to it as you continue to learn. Before you know it, your account size will be bigger than you realized, and to top it off, you’ll have a wealth of Forex education under your “traders” belt.
So remember, Forex scams DO exist. Be wary of them and hold onto your money. The good news is that there ARE legitimate Forex companies out there. Make sure you do thorough research on a company if you are thinking about giving them a shot. Ask other traders on the forums if they've had experiences with them. There is a wealth of information on the Internet so do your homework and you’ll be just fine.
The text was extracted from baby Pips, and I think it is good for the newbie’s here, so they don’t waste their money on this guys, Why the hell these guys have to sell courses if they have so good systems? alleging crazy profits, on fancy websites, just recently saw one of a guy named Bill Poulos, that is selling a very expensive forex course valued in 2k, on the website it says selling of this course has expired, we sold all of our courses and will no longer sell it again, suddenly pops a windows, saying that some people had mistaken and bought 2 courses, so guess what?? there are one more course available, what a shame that is, I know a guy who bought the course from Bill Poulos with the same saying, “only one more course available” I Went to the website today, the same shet pops saying only one more course available, didn’t my friend bought the last one? What a Shame
Well I hope my post was some kind of helpful
Logic will get you from A to B. Imagination will take you everywhere.
