Forex vs options successful trading for income excellence
Let me start by saying that it is true that everything is not for everybody. Some people are so challenged by learned limitations and limiting beliefs that it is all but impossible to achieve consistent success in trading.
However, the numbers of these individuals are probably much lower than you think. Of course, there are those that are simply unwilling or unable to pay the cost of trading triumph which is considerable and much more than most people realize; for instance, forex vs options successful trading for income excellence hundreds if not thousands of hours of diligent and often painstaking attention to learning and mastering strategies.
All that said, the vast majority of individuals on the planet possess what it takes to train for and run this marathon called trading if they would only stay the course. I have had numerous students over the years lament about their losses and frustrations related to trading while threatening to quit.
Unbeknownst to many of them, this capitulation to frustration comes just before forex vs options successful trading for income excellence would have turned the corner forex vs options successful trading for income excellence began to exhibit consistency in their trading results. The commitment to perseverance is a critical component of the trading process.
Trading is a tough endeavor. It challenges your character flaws, personal issues and weaknesses at every turn. It is for this reason that persistence and perseverance are crucial to your ability to not only bring your A-Game to the trading platform but to sustain it over the long haul.
Tapping into this type of energy is what can make a distinct difference in following through with your plan and your rules. The resolve to continue in the face of mounting obstacles is the ability to persist. By not giving up and quitting you are demonstrating perseverance; in other words to endure the onslaught. Ask your Online Trading Academy representative for more information. Also, get my book, From Pain to Profit: Secrets of the Peak Performance Trader. Woody Johnson — wjohnson tradingacademy.
Home Resources Lessons from the Pros Perseverance in your Disclaimer This newsletter is written for educational purposes only. By no means do any of its contents recommend, advocate or urge the buying, selling or holding of any financial instrument whatsoever. Trading and Investing involves high levels of risk. The author expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader.
The author may or may not have positions in Financial Instruments discussed in this newsletter. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future results. Reprints allowed for private reading only, for all else, please obtain permission.
Three friends signed up for a preview seminar on foreign exchange forex options trading. Two of them paid up for the actual course after attending the preview seminar. After 3 years, one has finally given up trading forex options after suffering huge losses while the other is still struggling to make a profit. The third friend felt put off from attending the actual course because the forex vs options successful trading for income excellence at the preview seminar seemed overly positive, focusing mainly on: Forex trading is about betting on the future movement of exchange rates.
Forex trading is generally considered a high-risk activity as it is usually leveraged. These days, forex trading seminars are often marketed online and through marketing collaterals which feature attractive success stories: But there have been reports where the participants shared personal experiences about losing money on top of forex vs options successful trading for income excellence out hefty course fees to attend the seminars. So remember, if someone offers to help you make amazing and consistent returns by teaching you all about forex trading: The tactics are similar: Sounds too good to be true?
That's because it probably is. Such online trading platforms typically attract the attention of investors through web-based advertisements or social media. Investors may then be led to trade financial products electronically, either through a web-based platform, or through software provided by the forex vs options successful trading for income excellence of the platform.
While MAS has regulatory safeguards in place for investors who deal with regulated online brokers, trading on an unregulated online trading platform means that the investor will lose the protection offered under our laws and regulations.
This leaves the investor vulnerable to possible forex vs options successful trading for income excellence or difficulties in contacting, or resolving any grievances with such unregulated online trading platforms.
These measures include requirements for the operator to be fit and proper, and maintain segregated customer accounts, controls and records. Investors are strongly encouraged to deal only with financial institutions or entities that are regulated by MAS. You can check the Financial Institutions Directory on the MAS website to check if the financial institution is regulated or not.
Apart from forex trading, it is also common for unregulated online trading platforms to offer another form of investment instrument, known as binary options. A binary option is a type of option contract that references an underlying instrument. The underlying instrument can be from asset classes such as stocks, commodities, currencies and interest rates. The forex vs options successful trading for income excellence on binary options are dependent on whether the asset underlying the binary option rises above or falls below a certain amount.
For a binary option, there can only be two outcomes: Although binary options may provide the potential for high profits, they also carry significant risk of loss. Investors should fully understand how the payoff structure of the product works, and be familiar with the underlying assets against which the option is based on.
You should also take note that there is a high chance of you losing your entire investment amount, whether you deal with forex vs options successful trading for income excellence regulated or unregulated entity. Further, you are always exposed to investment risk, whether a product is regulated or not.
Moreover, many of these unregulated binary options trading platforms are fraudulent and based outside Singapore. Investors who choose to trade with these platforms are unlikely to recover any monies lost. Also, if you choose to deal with unregulated entities, you will not have access to avenues for dispute resolution should a dispute later arise.
What is forex trading? Forex trading is generally considered a high-risk activity. These traders have market experience and real-time market information at their fingertips. They may also have huge amounts of capital to bet. As retail investors, most of us will not have much, if any, of these. Online trading, which includes forex trading, is fast-paced. Forex trading in particular requires round-the-clock attention to the markets and rapid decision-making. Not everyone will be suited for such demands, or is able to devote the required time and attention.
Ask yourself if you are suited to this sort of trading style. Binary options are susceptible to market risk. Trading in binary options without an understanding of the underlying asset is as good as gambling. Forex markets are complex. Identifying and making sense of economic indicators, trade data and monetary policy statements that are relied on by forex market professionals requires fairly complex analysis and judgement.
Trading on unregulated online platforms and forex trading can forex vs options successful trading for income excellence very risky. The risks are further increased when you trade using leverage or on margin. With leverage, the gains and losses can be magnified many times. Are you able to tolerate this level of risk?
Marketing testimonials may tempt you to think that everyone who has traded online bought into the recommended trading software or strategy or placed the same trades as the forex guru, has made significant profits. Have you considered that perhaps there may be many more individuals who have not done as well, or failed miserably, suffering heavy losses? Always ask yourself what is the worst that can happen and whether you can withstand the risks.
The offers look attractive because the potential returns touted are huge. Look beyond the headline rates and consider how realistic the returns are. The risks could be equally massive too: Before you go into a high risk activity like forex trading or trading on unregulated online platforms, do take the time to research other investment products too. Find out about likely returns and how much risk each of these products exposes you to.
Do your homework and conduct independent checks to establish the credibility of such claims. For instance, you can check:. There is no free lunch in investing. An instrument or investment strategy offering a higher potential return carries with it a higher risk of you losing some or all of the money you invested. Even years of market experience do not guarantee consistent or high returns for a market professional.
If you are a retail investor starting from scratch, think again. Be extra vigilant and cautious when you come across offers of exceptionally high or consistent profits. Always ask yourself what the catch is. Investors should also consider that if they deal with entities that are not forex vs options successful trading for income excellence by MAS, they forgo the protection afforded under the laws administered by MAS.
Investors seeking investments from unregulated entities should exercise caution and consider the additional risks of dealing with entities that are not regulated by MAS. Get-rich Quick Seminars Enrichment classes: Gain a new skill, enjoy new riches? What are Binary Options? For instance, you can check:
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