Home Beginners Forex Education Forex Basics What Skeptics Need to Know About Forex

What Skeptics Need to Know About Forex


There are a lot of people out there that simply do not trust trading or forex, they see it as some sort of money sink that will only result in losses. #If you go onto any sort of social media, you will always get a few people shouting about how bad trading is and that trading as a whole is a scam, maybe they lost some money, maybe they just don’t understand it, either way, it is important that we get all the information before we decide whether something is good or bad. So we are going to be looking at some of the things that the skeptics of forex trading need to know which may just change their minds about it.

Forex Is Real

One thing that you see some skeptics saying is that forex is simply not real, you are not trading with other people, you are trading against the brokers and they control the numbers, not the markets themselves. Well, the thing is that with some brokers this is partly true, for market maker brokers, you are actually trading against the broker and so it is in their interest for you to lose. With many other brokers like STP or ECN brokers, you are actually trading directly on the markets and it is in the interest of the brokers that you do well as they make their money through commissions. When trading with these brokers the markets are very much real, all money being traded are from real people or institutes. Forex is very much real and you can certainly make money out of it if you trade well.

Not Everything Is A Scam

There are a lot of scams out there and if you have been a victim of one, you will most likely lose a lot if not all of your trust in the forex industry. That is perfectly understandable, but not everything is a scam. There are a lot of legitimate brokers out there that are to help you trade, they do everything by the book and can be trusted. Many peoples view of forex is what they see people posting on social media, which is full of exaggerated results, exaggerated claims, and exaggerated promises, not the best place to get any real information, Instead if you go to one of the many dedicated trading sites or communities then you will see the truth, you will see the losers, but you will also see the honest winners, those making money and those showing that trading and forex are not actually scams.

You Can Earn Money

You can certainly make money, this goes along the lines of everything being a scam again, may skeptics who do not believe that you can make money also believe that it is a scam. Yet you can certainly make money, a lot of people do and a lot of people will continue to do so. We have made money ourselves, we know people making a regular income with trading, it is certainly possible, but until the skeptics actually make something they will not believe it, and even then, some will find it hard to actually believe.

Information Is Plentiful

A lot of people are skeptical about things because they simply do not know a lot about whatever it is that they are skeptical about. The good thing about forex and trading as a whole is that there are tonnes of information out there, so much so that you can go to any sort of trading-related site and find out quite a lot about it. There are also a  lot of trading communities around which can give you a great insight into how traders actually think as well as how they are doing with their trading. If someone is skeptical about trading because they do not know much about it it will be easy to help educate them on what trading is with all the information that is available on the web.

It Is NOT Gambling

Front the outside, when you do not know a lot about reading, it can look very much like gambling, we say this simply because, in the end, you are putting money on and then hoping that the markets go the right way, at least that is how it looks. In reality, there is a lot more to it than that, we do a lot of analysis in order to look at the different probabilities and then buy or sell based on those probabilities, so there should be a higher chance of our trades being successful than not. From the outside, they do not see that, they just see the trade and the result. There is an element of gambling, as the markets won’t always go the way they are meant to or we expect them to, but we certainly would not class trading or forex as gambling.

You Are Right

A strange one, but you should be telling skeptics that they are right, they are right to be cautious, they are right to have doubts, and they are right to be interested., You cannot be a skeptic if you do not have any interest in the subject. They are right to doubt simply because a lot of what you see makes things sound too good to be true, some bits are, but some bits are very real. It is always good to question things but you also need to be open to the answers, especially as some of them will go against what it is that you believe.

So those are just some of the things that the skeptics of trading and forex should know about, there is so much out there that can make some doubt, but also just as much out there that should make someone believe, it is all down to which bits of information they are exposed to first as to which opinion they initially build. We need to ensure that those that do not believe are shown the right info to help convert them, but you should not waste your time trying to convince someone who does not believe, instead you should be spending your time and energy on improving your own trading and aiming to be more successful as a trader.


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