Can i get rich trading options
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 trainers at the preview seminar seemed overly positive, focusing can i get rich trading options 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 paying 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 operator 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 scams 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 returns 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 a 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 can i get rich trading options and based outside Singapore.
Investors who choose to trade with these platforms are unlikely to recover any monies lost. Can i get rich trading options, 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 can i get rich trading options 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 be 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 can i get rich trading options what is the worst that can happen and whether you can withstand the risks.
The can i get rich trading options 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 can i get rich trading options 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 can i get rich trading options with entities that are not regulated 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.
Can i get rich trading options Quick Seminars Enrichment classes: Gain a new skill, enjoy new riches? What are Binary Options?
For instance, you can check:
I was a day trader for many years and it almost killed me. I made money by making profits on my own money and also taking a percentage of the profits for the can i get rich trading options I traded for. I did this from to I learned about day trading but I also learned a lot about myself and what I was good at, what I was horrible at, and what I was psychotic at.
Things that had nothing to do with day trading. Day trading is the best job in the world on the days you make money. You make a trade, then maybe 20 minutes later you are out of the trade with a profit, and for the rest of the day you think about how much money you made. I would make a trade, it would go against me, and then I wanted my heart to stop so my blood would stop thumping so loudly. All can i get rich trading options these lessons I will certainly use today, many years after I stopped day trading.
This applies not just to can i get rich trading options but everything. You could be married for 10 years and the next thing you know you are divorced and you would not have predicted that.
You could be healthy all your life and drink your vegetables and exercise and reduce stress, and a year later you could be dead from cancer. You can always seek to increase the odds in your favor. But certainly a path to unhappiness is thinking the future can be predicted and controlled. A hundred percent of opportunities in life are created because people are uncertain about almost everything in their lives.
We are constantly trying to close the enormous gap between the things we are certain about and the things we are uncertain about, and almost every invention, product, Internet service, book, whatever has been created to help us close that gap. Sometimes this is hard. If your husband betrays and leaves you, you often feel like crawling on the floor and burning all the self-help books. You can say it something inside of yourself. Some people take too many risks and they go bankrupt.
This happened to me. But then I would take big losses and that would wipe out all my profits. The key is that you can take larger and larger risks if you work on better and better ways to deal with those risks. For instance, I might be able to risk marrying someone if I know she is not a hard-core drug addict who regularly betrays the people she is close to. I can risk driving without a license if I always stay below the speed limit I know this is a stupid risk, but still.
How can I get that job? When I was raising money to day trade, I probably contacted over 1, people. When I was starting an Internet business I started over a dozen Internet businesses and watched all of them fail but one.
When I was trying to sell my Internet business I contacted over a dozen companies although Google broke my heart — damn you Google!
When I wanted to get married, I went can i get rich trading options lots of dates. She would only go to tea with guys.
Within the first 20 seconds you know if you are attracted. So keep it to a tea. But this is just a mental bias. Say no to it. Day trading pulls everything out of you.
It sucks the soul out of your body, blends it up, and then explodes. So you have to take care of yourself. And obviously, this applies to everything else in can i get rich trading options. Every day, what small thing can you do to become a slightly better you? The only way to survive is to laugh. Guy makes a trade. The market goes against him. And then he loses all his money and goes crazy. The market is never crazy. The world is never crazy. And I will go so far as to say that your girlfriend who just lied to you about where she spent the night can i get rich trading options not crazy.
I only care about you. Good and bad days happen. But life is about a billion little moments that add up to all the things around you. Can i get rich trading options you let one of those moments have too much control then you are bound to be mostly miserable. I was mostly miserable during the period I was day trading. I let that aspect of my life take control. So I stopped focusing on being a good husband, a good father, a good friend, a good anything. I would have nightmares.
I would lose sleep. I would wake up many mornings and go to the church across the street so I could be by myself and pray. What would I pray? So what makes anyone think they will have an edge? How many people listen to me? Because people are sick of their lives, their relationships, their jobs, and all the lies that have been told to them ever since they learned how to walk. Day trading is the dream. You can make enough money can i get rich trading options not care.
To do it from anywhere. Most people think they have that one special something that will make it work for them. You can skip right to the being happy part. You can skip right to being free. But we never learned that. We were taught we had to do something first to earn freedom. We were taught that suffering was the currency to buy happiness. Okay, go do it. Then cry about it. Then curse the craziness. None of that will make you happy.
Then read this blog post again. Not because it will make you happy. But because I like when people read my posts. I was a day trader for many years, and it almost killed me. I did it for years, though, because I was unemployable in every other way. Everyone thinks they can. B Hope is not a strategy. I hope that every day my life goes perfectly. C Uncertainty is your best friend. D Taking risks versus reducing risk.
You have to decide every moment if this is the situation you want to be in. All of my other constituencies went to hell. Nobody answered my prayers. They want freedom from the BS.
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