4 years ago, I was working in the private sector at a fine post. My salary seemed satisfying. Unlike certain jobs, mine was not so hectic. Enjoying fixed work timings, I would come home early. I have always been eager to learn new things for advancing. Foreign exchange was a new field for me. It seemed beneficial but I lacked any knowledge of it.
The long-standing position of Tradesto in the forex industry impelled me to connect with this broker. My only concern while connecting with it was to gain some knowledge of forex. At the end of our conversation, I was giving some serious thought to investing in forex. A Little Start with a Little Sum As per this broker, many beginners, with no knowledge of forex, excelled in this industry. Since there was an option to start from a small sum, I found no risk in making my first investment. That too without any knowledge of forex. I did consider Tradesto's advice from time to time to understand the investments I was making. In a few months, I was able to develop a basic understanding of the market. So, then I started learning more about forex in my free time at home. Along with learning, I was also making small trades. Much before I realized, I was beginning to enjoy good profits even when the investments did not involve very large sums. Almost 2 years passed by. With a few hours of trading, I was able to earn profits equivalent to my full-time salary at work. This was astonishing. It struck me that if a few hours of forex trading could help me earn this much, then doing it for more hours could be more beneficial. Final Words I did take a risk and quit my job. Another 2 years have passed and here I am. At the present moment, my understanding of the market is huge. My knowledge of forex is vast. My experience in forex trading is meaningful for me both as a trader and in person. And if you're wondering about my profits, then the results turned out just as I had desired. For more information check, Tradesto Review
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A lot of you would know that forex scams can occur in the foreign exchange industry, just like any other industry. Getting out of these scams may be tough. And when you have been in the scam for long, the situation may get even harder.
One of the best forex brokers, Tradesto has revealed some early signs of forex scams. This broker believes that watching out for these scams will help you in identifying one. 1. Guaranteed Returns with Every Trade Scammers will often attempt to attract you with guaranteed returns with every trade. Further, they will ask you to make an investment in their service to get such returns. Until the person making the offer gives you proof, try not to believe. 2. Request for Your Personal Information In the foreign exchange market, you can come across vendors seeking your personal information. If shared by you, your personal information may get misused. Tradesto strongly advises that your personal information should only be given to a trustworthy vendor. 3. Free Webinars, Courses or Advise Have you ever come across a free webinar out of nowhere? Or were you ever approached by someone for a free trading course? Or did you ever receive a message containing trading advice? Such a thing, when coming out of nowhere, can be a scam in disguise. Avoid yourself from trusting it. 4. A Limit on Withdrawals Are you assisted by a broker? Does your broker delay your withdrawals? A forex broker that does not allow you the ease of withdrawing your money may not allow you to take it out at all. This way, you will not only be risking your money but also get into a scam. Coming to a Conclusion In this blog, you learnt about the early signs of forex scams. Whenever you feel that you are getting into a forex scam, you can look for these signs. You will be able to identify the scam easily. Eventually, you will be able to save yourself as well as your money from the scam. Forex trading is like a business. There are no certainties in it but statistics. Forex trading is more about having a strategy than going for a casual way of buying and selling currencies. Sadly, when that is the way you adopt to trade, you end up doing 3 "don'ts". While forex professionals can still find a way to get things back to the track, the newbies should really avoid these for surviving in the market.
Read ahead to know what these "don'ts" are. #1 Don't Lose Anger When You Lose a Trade One of the most trusted forex brokers, Tradesto explains that newbies can lose trade in forex. There is nothing very unusual about that. What is rather surprising is the reaction of newbies in such a scenario. Getting angry and opting for revenge trading is often observed in the case of newbies. When you trade out of anger, you should be ready to lose more money. On the other hand, when you learn what failed you from winning that trade, you'll unlock the secret to success. #2 Cut out All the Impulsive Decisions Impulsive decision-making is the next major thing you should avoid as a forex beginner. Which decisions are impulsive in forex? Suppose you are reading the news. You get to know that there has been an increase in rates. Instantly, you go for opening a trade. Will that bring you any luck? That won't. Tradesto adds that trading with a cool mind can make a big difference. Impulsive decisions will never be a good idea in this field. #3 Avoid Using Big Leverage Lastly, we'll suggest you avoid trading forex with big leverage. This is borrowed money that does not belong to you. Big leverages are things that can attract a huge number of forex traders. Using leverage can help you earn profits from trading currencies. However, when losses are involved, you will be witnessing great destruction. In Conclusion Forex newbies need to be careful right from the start. When they follow the right track to trade forex, they’ll not have to face major unlikely results. For more information, check Tradesto Review. |
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