There are so many ways of making money online. FOREX trading is a popular one. All over the world and in my country, Nigeria, many people are trying their hands on it.A few people are making a killing in the business; a lot more are losing money daily.
Recently, someone very close to me lost all his money again (this was his third loss) because he was using bad trading signals from some so call guru.
I felt bad.
I believe FOREX trading has a problem. I am going out on the limp here but I believe there is something wrong with FOREX trading.
What Is Wrong With FOREX.
1. The Business Model
Although FOREX is used by banks and lots of individuals to make money online, one of the biggest problems with FOREX is its business model.
The business model of many prosperous companies and people online and offline is based on the principle of helping people solve a problem. Or helping people do something better. The bottom line is -helping people.
FOREX trading only solves the problem of one person-the trader.
It does not directly solve the problems of other people in anyway (except maybe they problems of the trader’s family) but nothing more.
I strongly believe that the best ways of making money whether offline or offline is helping people solve problems.
I am strongly passionate about giving value to get value. I love a win win situation, where money is made when one delivers value to people by helping them solve a problem.
This is exactly what FOREX doesn’t do.
When a FOREX trader makes money, who else is he helping?
The only FOREX traders that maybe helping other people are FOREX traders teaching people how to trade or the FOREX trading platforms helping FOREX traders trade online.
Just for the records, I m not saying FOREX trading is illegal or wrong.
I am not saying that people are not making money using the system.
All I am saying is that FOREX has a business model that does not work for me and maybe is one the reason lots of people are finding it hard to make money.
I may be totally wrong or partially right or totally wrong.
I love to read lots of reactions from people, even from FOREX traders, so please comment.
What is your opinion on this? Please comment.
Very nice post, maybe by combining yours and my ideas I will manage to start some serious work on my first blog.
my best friend is very good in Forex stuffs and he earns loads of money from it. *~’