Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.
“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” - Robert Kiyosaki
Most of us have been conditioned to work for money. Our schools and institutions never taught us how money works for you. You may have had the lecture of "The American Dream." The American Dream has always been, "Go to college, get good grades, get a degree, get a good secure job and live happily ever after." The way the world is shifting right now, jobs aren't the same as they use to be 12-15 years ago. Most of the american people are in school loan debt or credit card debt and they are working countless hours to just get by paycheck to paycheck.
"Two in five U.S. workers said that they will need at least $1,000,000 to retire." Source - Fortune.com
In today's world, there are more business owners and entrepreneurs who are taking advantage of what they have in front of them. (Instagram, Snapchat, etc) Some people have found ways to have money work for them instead of them working hard for money.
How does the wealthy stay wealthy?
1) The difference between the poor and the rich is information!
2) They invest: They identify opportunities to grow it, and then invest. They risk, and often lose a lot of money, but they do it with intent, start slow, and learn from the losses. Over time, the investments start creating assets for them the process grows exponentially.
Building wealth, and keeping it comes down to two, simple ideas. Don't spend all that you have and invest in real estate and businesses that go up in value over time.
They do things differently than everyone else. If you look at public figures like Bill Gates, Mark Cuban, Warren Buffet, Mark Zuckerberg, Roberk Kiyosaki. They either the owner of a corporation or an investor. Robert Kiyosaki created the CashFlow Quadrant in one of his best selling books. It gives 4 ways to produce income. Most people are in the "E" or "S" quadrant. The "B" or the "I" quadrant is where you want to be.
Can you imagine yourself being financially free? Free from your 9 to 5, being debt free, being able to travel anywhere that you want at anytime. If you ask any working class citizen what they wish they had more of, 95% of them would say "time." More time to spend with their family. More time to go on vacation. More time to do more activities.
Maybe you want to travel and see different countries or have more time to do community service.
Imagine starting to have money work for you in your sleep, on vacation, at the movies, etc!
If you have the patience and the discipline to learn this skill, you can succeed in Forex.
Forex is not a get rich quick overnight nor will it make you a millionaire fast. Traders who have been trading for 5-10 years are still learning this skill.
Past results does not guarantee future profits.
This is a skill that no one can take away from you. Start making everyday a Friday!
If you're new to Forex, you can start Forex school here