Will you FOREX to make extra money?
By ahgong
@ahgong (10064)
Singapore
March 31, 2009 3:12am CST
Rich Dad Poor Dad once said, “The only difference between a rich person and poor person is how they use their time”.
We tend to sell our time in order to make pittance to put food on the table. And there are many other money making tools other than a job that we could make use of to earn a living.
The FOREX is one of the many tools that many people have used to gain wealth. I do not mean overnight riches. Neither am I advocating that it is a get rich quick means to gaining wealth.
But with the economy going south, there are many advertisements in the papers indicating that it is possible to still make money regardless of a bull market or a bear market.
And the FOREX is the way to do it.
Albert Einstein once said, “You have to learn the rules of the game. And then you have to play better than anyone else.”
And if you know the rules of the game, then you would be able to excel in it better than many people who do not.
The question is, these seminars that are advertised in the papers, all of them are saying it is very easy to master the FOREX to get rich. But in order to learn the tricks of the trade, you have to pay a fee to learn under their tutelage to gain that wisdom of mastering the FOREX.
It got me thinking, is it really that easy. If it is, why is there still so many people struggling financially in these times to make ends meet?
Then it struck me, one of the possible reasons is that these people may not be able to afford the fees to the materials and resources to learn the secrets of the FOREX in order to make riches from it.
But assuming that you can afford to pay for the fees, would you pay that few thousand dollars to learn a skill in order to make more money from the FOREX?
For those who are already dabbling in FOREX activities, is it really that easy to make money from it?
Is it that easy to learn the rules of the FOREX to make a decent living out of it?
Please share your views.
3 people like this
7 responses
@kun2349 (23381)
• Singapore
1 Apr 09
haha =D Forex is actually quite easy to learn and one actually need not paid thousands to attend those lessons.. Just learning it online is the same, and explanations are much more simpler to understand too.. hehe ^_^
Forex is not really easy money because the market for it is practically 24hrs a day.. PLus, with the currency exchanges being not as stable, it's not really safe to go into it now.. On top of that, one can only earn if they are not greedy, but for ple whom are investing in it, how can we refrain ourselves fom being greedy in the first place?? lol =D
@ahgong (10064)
• Singapore
8 May 09
I understand where you are coming from. And I agree with you.
But given certain tools and systems available, I am sure there will be ways to make money from forex.
The banks are hiring people to do it. And if they can, why not me?
It is a matter of when that make the difference between the banker who is trading now, and me who is learning the ropes.
Further more, using one's own money to fund this, it is gonna take a lot more research and consideration before one will actually venture into it.
But back to the question, if indeed there is a way to make money from forex, will you consider it as one of your options when making a decision on where to put your money to grow it?
1 person likes this
@kun2349 (23381)
• Singapore
8 May 09
Nope, forex is just like stocks and shares.. It's not stable, even though forex is the less risky of all.. BUt then again, one need to have that kind of money to lose, in order to win more in the future.. With such a risk, i will rather not opt for it ^_^
1 person likes this
@sgforexcourses (2)
• Singapore
5 Apr 09
I think the key is in the trader's psychology...!
1 person likes this
@ahgong (10064)
• Singapore
8 May 09
That is what I initially thought too.
But it seems that there are brokers online that are willing to allow one to open a forex account at a much smaller, and more affordable amount to get started.
Hmm... this is giving me some good food for thought.
Thanks for the posting! 
@mentalward (14690)
• United States
31 Mar 09
I honestly don't know anything about FOREX so I can't say anything about it, specifically. BUT, if it's a gamble, one rule you should always abide by is to NEVER invest any money that you can't afford to lose.
Over the years, I've read about seminars where you pay hundreds of dollars to attend and they teach you things that you could learn for free if you just did some research on your own. These "I can teach you how to make hundreds of thousands of dollars a year" seminars won't teach you anything except how to lose your money, unless you are one of the VERY few who are go-getters with boundless energy. The ones making the money are the people putting on the seminar and taking your money to attend!
My ex-husband used to buy lottery tickets. Every week, he'd spend $10.00 to $20.00 on lottery tickets and I never saw him win once... not even $5.00! This went on throughout our marriage and I figured that he must have spent at least $5,000.00 while we were married in lottery tickets... money he just threw in the trash.
If you're one of the obnoxious people who can convince others to part with their money while convincing them that they can make a fortune, you can make good money. I, personally, would not part with my money over a gamble. If I want to learn how to make money, I'll do my own research, for free, via the internet, the library, or talking to friends or acquaintances, NOT by handing over my hard-earned money to a stranger who is so eager to take it.
I know that it takes money to make money but, unless it's guaranteed, I won't touch it. I know I'll never be rich, not in the monetary sense of the word, but I'm okay with that.
Good luck to you in whatever your decision! 
@ahgong (10064)
• Singapore
8 May 09
Well, I have been reading up on this since my last posting.
And I must say, it would take some knowledge in order to understand what the forex is all about.
I must say, we all are involved in some form of forex at one time or another. We just do not recognize it as such.
When you go traveling to another state or country where the currency is different, you would have to make a change of your local money to the currency of the place you are gonna visit.
And you will usually try and wait for a time where the exchange rate is in your favor (as in you can get more of the foreign currency with the same amount of dollars you are intending to change), then you will go and make the exchange with the money changer who is offering the best exchange rates.
That is a form of forex!
Yeah, it was a revelation to me too.
Anyways, I have seen people trading. And I have read some of the ways that you can use to trade with. With so many simulation sites available, one can actually try and hone one's skills to gain confidence before even putting any real money down to do any trading.
The more I read, the more I find it possible to make some passive income from this.
I am still doing my research. Hopefully, I can find something that will work for me! 
Yeah, it was a revelation to me too.
Anyways, I have seen people trading. And I have read some of the ways that you can use to trade with. With so many simulation sites available, one can actually try and hone one's skills to gain confidence before even putting any real money down to do any trading.
The more I read, the more I find it possible to make some passive income from this.
I am still doing my research. Hopefully, I can find something that will work for me! 
@ahgong (10064)
• Singapore
8 May 09
I used to think that is the case too.
But the more I read about it, the more I am thinking, it may be possible to make money from it.
But the discipline and the mindset has to be different from that of a gambler.
Hmm... I guess it will take more reading and trying with demo accounts before I can make a definite conclusion about this.
But if given the chance to be proven that the forex is not a gambler's arena as much as it possibly could be, would you consider it as an option where you can make your money grow?
@Misiufraggle (287)
• Poland
31 Mar 09
From what I've read about FOREX you really need to be able to invest about $1000 minimum to start with. I just don't have this amount of money to risk right now. Do not forget FOREX, like any investment is a RISK. You are not 100% guarenteed to make money.
1 person likes this
@nishdan01 (3051)
• Singapore
14 May 09
I do not know much about forex. My husband had a demo account and he tried to learn the secrets for several days. Then later he learned some tricks and later on left it as he was getting bored.
