“Can you trade the Forex for free?” That is a question that a lot of people are asking, but nobody is answering. But seriously friend, do you think it is possible? I am going to discuss this question in this lesson.
I want to explain the meaning of the question. When I mention “trade the Forex for free”; I am referring to the actual costs of the information & software that you need to make Forex trades. It would be ludicrous to imply that you will not need investment capital (money) to make your trades.
If you want to make profits in the Forex - you will need some money to get started trading. I am going to show you in this lesson (and lesson #5) how you can get started trading with as little as $300 in a mini- account. When you stop to think about an investment opportunity, $300 is nothing when you compare it to the kind of money that can be made in the Forex.
Note: With a $300 investment, you will be able to control $60,000 worth of
currency!
I wanted to mention the question: “Can you trade the Forex for free?” to save you a tremendous amount of time and money. I am going to share something with you that is not popular in the Forex trading education world. I have already gotten some nasty comments by other Forex trading course authors by implementing this philosophy.
This nasty little secret is the lifeblood of the Forex trading education industry. I can not legally mention any company here, so I am going to tell you what this nasty little secret is. I will also give you guidelines to avoid falling into any traps. Here it is: All the information you need to trade the Forex is available in free or low cost resources.
If you search for Forex trading systems you will see an unbelievable trend. You will notice that many companies are charging thousands of dollars for trading courses. Perhaps the information is good, perhaps it is not. This is not the most profitable part of the education industry.
Most trading courses require you to subscribe to a paid service that forces you to depend on that service. These paid services can be email notifications, software leasing, & other types of services.
So what is the problem with a paid service? These services do not explain how the systems work. You are blindly paying for someone else’s recommendations. The person selling the recommendations could be using free resources to make those recommendations.
Ok, let’s suppose the paid service predicts Forex movements with the greatest accuracy. You begin to make hundreds of thousands of dollars by using the service. But something happens and the service becomes unavailable. What would you do then? You have just allowed someone to retire your trading career early and at will.
Maybe the paid service works really well at first, but then the person running the service turns it over to someone else. You could lose a lot of money before you realize that someone new is running the system into the ground (along with your prior profits!).
It is never a good idea to put your fate in someone else’s hands. If you could learn how to predict the Forex for yourself, you would be in total control. You would have knowledge that nobody can take from you.
I have been cheated by expensive courses that didn’t deliver. I spent $3,000 on an investment course that gave great information. The information they taught was useless unless I subscribed to an $80 per month software. It took me 3 months to lose the $2,000 I had in my trading account. But I also lost the $3,000 on the course, plus $240 for the software subscription.