Forex or the trade of foreign currencies has become a very popular but a pretty much misunderstood method of making money. Many people think of it as a pyramid scheme or a get rich quick plan. When in truth is a multi-trillion dollar industry that is linked to the global financial market. There are people called retail trades who trade from the comfort of their homes, these are the people who through various platforms are able participate with the Global financial market. These traders are continuously growing in number, Africa has a very small population of retail Forex traders due to a lack of proper internet infrastructure. Forex trading has had a mobile revolution which has made mobile platforms viable option for retail traders.
Forex has no need for any form of standard formal education for a person to be get involved in it; furthermore there is no requirement for an initial investment to come from the prospective trader. Forex technical skills are gained by engaging with videos, eBooks and web seminars. The use of mobile platforms has created a very particular why of trading, with the use of mobile signals (these are tips on which currency pairs or commodities to invest in). Forex trading uses of social media platforms such as WhatsApp, Facebook or Telegraph for receiving signals. The major benefit of this is that there are many groups on social media that provide these trading resources for free, therefore assist people who are trading to make profits without having to pay expensive signal and resource providers.
South Africa is faced with a major problem of development, I the sense that our economy is too focused on primary industries which it is no longer able to sustain.
Therefore the jobs that used to be available are shrinking and the creation of new industries has proven to not produce enough jobs to deal with our growth as a state. The entrepreneurship project has proven itself to be very difficult, as the state only invest in projects that are reactionary; this is to say we don’t really employ a forward looking vision. There are a large number of youths who are unemployed, who have able to access some form of mobile device and mobile internet, allowing them to register account and access forex trading.
This article will not try to paint a story which does not recognize that forex trading is very risky, it has the potential to create wealth for those who go through the free teaching material. It also has the potential to make a person loss all their money if they take the industry as if it is gambling or a get rich quick scheme. It is an established industry that has professions in it. It is not a form of gambling, but rather a potential career path for those involved in it. It’s important to note that retail traders are recruited by brokerages when they noticed for their ability to trade well. The reason we look at trading is that it is outside the formal, an industry that allows people to generate money, at times more than that made by skilled professionals. On average a retail trader that takes trading serious, is able to generate more money in a week than a formally employed person holding a normal position in the corporate sector. An example will be that of my older cousin who started last year in July and per week, makes just over $1000, which is over R12000. His on a monthly basis makes more money than his older sister who is a HR manager at Transnet Richards Bay Harbour. We use a training strategy which we found on the internet and provide free training to persons wishing to trade.
I have since the beginning of the year, trained two friends, who are making an average of $100 from a mobile platform and through sending them signals. These two friends have never used their own money; they used the no deposit money on their account to generate these types of profits. There are days when they make losses but the average $100 is the target which I have set for them and push to achieve.
The reason as to why I chose Forex is its earning potential, with having to spend large amounts of monies on training and accessing of opportunities. It takes me three days to give people the ability to trade; I give lifetime support to the trader. I do this within the logic that the more people I assist to have disposable income, the more dependents of those people will be assist by the money. The creation of new forex young millions such as Sandile Shezi, Prince Mazibuko or CashFlow Ngcobo can assists the black community as it brings in money to a grouping that would otherwise not have access to the capital gains.
The more money we are able to make with new methods is beneficial to our communities, transforming a unemployed person to a retail trader who is able to make money for themselves and their family. There are more ways for us to create incomes for ourselves that are outside the scope of the government, these ways must be pursued because their earning potential is nearly unlimited, this is based on the fact that the trader is willing to use resources that will assist them to fore fill their true potential.
Trading is a viable option; I am an example of it.