What is Forex?

      When some people hear the term Forex Trading, they usually think of stock. But that’s not what Forex is. Forex is a foreign exchange market where you can buy, sell, and exchange the prices of currencies. In other words, Forex (FX) is the trading of currencies from one country to another, which compete against each other to make a bigger profit from their own country’s dollar. 

How Did I Begin Forex?

    I first got into Forex from a girl I met. She was a singer on Instagram who had a massive following. I used to see that she posted about Forex all the time and was promoting it as if she was doing an advertisement. I had no idea that this girl knew who I was, or even that she knew I’d been following her. She then DM’d me out of the blue, like when I tell you that I was just eating a bowl of cereal on the couch….. I was just eating a bowl of cereal on the couch. Her exact words were:

“Hey girl, just noticed you were following me. I love your feed, you seem like you have a beautiful spirit. I hope God sends many blessings your way, keep your crown up my queen!! ”

      I felt so many emotions from that simple message. I was praying about it and trying to figure out why she would message me….me… ME! Out of all people, I was included in her thoughts to text that particular day. While my thoughts were running miles, I replied to her message. Then we kept texting and making simple conversations. She asked me if I had a job, I said I did, and I told her about my work for STEM girl leadership through a community center. She asked me if I had ever heard of Forex Trading, and I said I did, but nobody really told me too much about it. To make a long story short, we scheduled a zoom meeting with each other so she could give me more information about Forex and how it works. 

      I found out how I could be successful doing Forex and wanted to keep going. Many young teens and people in general are not taught how to market. When I joined, I attended zoom meetings with people who are millionaires and even billionaires, just from Forex alone. Many gave me beneficial advice and kind words towards my success. 

How Does Forex (FX) Work?

       In Forex, there are two parties, best known as the “over the counter market”. When you trade Forex, you are creating a variety of transactions. The transactions are separated across different time zones because there is more than one location. Therefore you could be trading currencies with Mexico, China, Tokyo, London, Canada, Russia, etc. 

         One way of trading currencies is trading derivatives. This is where you will predict exchange rates. Allowing you to make a logical prediction on where you think the currency pairs direction of price will go and follow. If you are CORRECT or close to being correct, this is what speculates your total profit and woohoo: money for you. If you are INCORRECT, you could lose the money you traded with. It could be as little as $5 you lost or as big as $1000+. When you are confident in your prediction, you’ll usually put down more to increase your profit. Though that is just one way to trade Forex, it is one of my most preferable ways because I believe the likeliness of profit is higher. 

What Are My Benefits?

       You could trade Forex from a phone or computer 24 hours a day, 7 days a week and just choose the hours you want to work instead of making 16 dollars an hour from an Amazon or Walmart job, where you have to basically sell yourself doing hard labor for 16 dollars an hour. While on your couch, bed, or even while you are in your zoom classes, you could trade with people across the map, making 16, 17, 18, 19, 20, etc. dollars a MINUTE. Am I joking? No. I’m not joking. It seems unrealistic, but Forex trades more than 5 trillion dollars a DAY. 

I enjoy doing Forex because it’s a market that allows me to prepare for my future with a head start on multiple sources of income. Although my main benefit is that I’m a high school student who has some time on her hands, my growth is different from some because I don’t have the average “ adult responsibilities ”. This allows me to see financial growth more rapidly than some people. 

What Should You Avoid?

        While only 2% of the world knows about Forex, the likeliness of your success is capable. Though keep in mind that Forex is not a “get rich” scheme, there is a lot of time and effort that goes into this field just to make your first hundred dollars. Many people begin Forex with the mindset of being a billionaire next month and let me tell you…… that’s not how it works AT ALL. There are times you will receive money and there are times you will lose money. Overall it’s a growing process-nothing happens overnight. There are faulty truths about Forex, such as MLM schemes, or even Forex teams out there who don’t tell the whole truth about FX. This may be the main reason many people start Forex and quit after the first two weeks because they were not prepared by the right person for what will come with it. You should definitely be careful of your mindset and schemes when starting Forex or any type of marketing.