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How Risky is Forex - Forex Trading for Beginners

what is going on guys in today's video I am going to tell you guys how risky is Forex so it's some of you guys to know I've been trading for us for several years and let me tell you guys a little bit about risk racing the forex market it's not as bad as some people think because a lot of horror stories that you guys here are from people over leveraging their accounts so what does that mean that means that they're taking huge positions compared to the amount of money that they have in their account so to summarize let me give you guys an example say for example you have a dozen bucks in an account with the 150 leverage so what does that mean it means you can control up to $50,000 worth of currency okay so you take one position you buy say you buy half of your account that's already 50% of the money that you have gone say you had you have to $25,000 in account already tied up that's 50% of your account in one trade so if this trade goes against you you let it run they've just completely gonna Niall ate your account so how risky is it it's really up to the individual and how much you're willing take per risk so it's all limited that's the beauty of forex with forex you can decide how much risk you want to take you have the ability to set a stop loss at a certain defined point which you exactly you will know how much money you're going to lose if does not go your way you have the ability to set how much money you will gain if it goes your way so how Chris gives Forex not risky at all why because you have controlled parameters that allow you to determine how much money you will gain or lose it's not like you're just throwing money into the dark and hoping that you're making more that's not how it works the reality compared to what some people might have heard or any rumors out there Forex is not risky at all if you set your parameters on how much money you're gonna lose how much money you're gonna gain in the course that I'm that I have all that I'm teaching you guys step by step how much you should put as a stop loss and take profit this and that how much does risk per your account a certain percentage so I gave you guys I'll break all that down for you like I was saying you do not take you shouldn't mail you could it's your account you can do whatever you want you can race three quarters are very counter one trade but I personally would not ever me personally I like to keep things a little bit more conservative because I do have a larger account nowadays I'm taking very very small risk per position so I'm talking about 2/3 percent of my entire account 4x is less risky than other investments is because liquidity you have the ability to buy and sell your currency anytime anytime 24 hours a day 7 days a week the other markets are closed on something so like holidays and nobody works Christmas I think being one of them it's just but it's pretty much 365 because there's all point is the markets are always opened during Christmas and another times liquidity is very democracy just a non-moving you have a higher spread you can still sell but I wouldn't recommend it I wanna recommend a world a point here being is you have less risk and 4x because its liquidity you have the ability to sell it now you buy it now you have all that which with other investments you just don't let me tell you guys the only thing risky about Forex the only thing risky about Forex is the broker that you choose because if you pick the wrong broker you one are going to pay bigger or larger Commission spreads every time you place a trade and to if you really pick a bad broker you will never see your money again because there's really bad brokers that are established like Cyprus or like overseas the regulation over there if there's all kinds of loopholes so you wire your money to them and you live seeing that money again ever so that's the only risk with Forex in reality because everything else you can control don't think you can can't control well yeah I guess you can control that too if you know what you're doing I have a really good broker I'm going to recommend you guys in the description I've been in with four years the bike by far the tightest of spread pips bread wise superfast execution speeds is just unbelievable never had an issue with them that's the only risky part about Forex picking the wrong broker and getting screwed because there's also some brokers out there that make it seem too good to be true and in reality you wire your money getting all excited and you say for example you actually make money you get profitable and then when it comes to withdraw that money and good luck good luck and you can't to them you can't take them to court this and that wipe because the Terms of Service that you agree to a gigantic page of text that you click the susceptor no service it stated that their company is uh in like Jamaica or like some sort of foreign country where it'll be way more expensive for you to fly over there to UM get lawyers to send that and not only that their entire court system over there is completely different than here in the US so that's the only risky part about for you besides that everything else you have control over you make me your trade losing your money there's always that race just like in any other investment whether you're buying selling cars buying and selling houses there's always going to be that risk but it's really up to the individual some individuals succeed overtly others but that's another video for another time the point here is Forex very very little risk compared to other trading adventures that you can possibly get yourself into so with that being said guys thanks for watching if you guys have any questions send them to me and make sure to subscribe for other forex videos I've been doing this for years so far this doesn't get any better than this residual income making money why you sleep that's what it all boils down to you don't want to be working at a constant job for the rest of your life there's nothing bad with that if you're stanking up saving money there's nothing wrong with that I did it myself you have to start from somewhere but you can't continue doing that for the entire life because you're only here on this earth for a limited amount of time you have to make sure you put your money to work have it work for you while you're out with your kids out with your girlfriend out partying out on vacation out sleeping if you whatever you have to put your money to work so that you won't have to show up from a nine-to-five every single day Monday to Friday or some people Monday through Sunday like all seven days of the week cuz they really need it so the point here is you have to take action and you have to make sure you start learning learning is the most important thing because once you start learning about something like Forex it will change your world it would change just the way you view the world it will change the world around you the things that you have how you live your lifestyle and it's just unbelievable I'm telling you guys obviously I'm promising you guys you're gonna be filthy rich because if you want to make built the amount of money you're gonna need a lot to start it's just like anything in life you're not gonna girl $1.00 to a million in six months it's not gonna happen it takes a lot of money if you want to become filthy rich but I am Telling You guy said there it is possible to replace your income that you're making at your normal job that you have now and not even replace you probably make like five times that if you actually put your mind to it but with that being said guys I am starting to ramble so I will wrap this video up and till next question I will see you guys then have a good one