In the early days, we used to joke that if you hadn’t attended one of those random meetings held by network marketing companies—especially the ones selling supplements, promising you exotic trips, luxury cars, and a life of ease while you're still job-hunting—then you hadn’t really searched for a job. It was almost a rite of passage. Today, however, the new "hot" things that are drawing people in are cryptocurrency and Forex trading.
I must admit, I’m not particularly experienced with either of these fields. But, I’ve received my fair share of messages on WhatsApp from people trying to entice me into either crypto or Forex trading. This year, one of my goals was to learn about blockchain technology, which ties into cryptocurrency, but I’ll confess, I haven't been particularly motivated. Most of my friends who are deep into crypto haven't been able to convincingly show me how they’re actually making money, which, I suppose, is part of what has contributed to my reluctance to dive in.
Recently, I started paying more attention to Forex trading, especially after a conversation with a friend who was concerned about another friend burning through all his hard-earned money in the world of Forex. That got me curious—what exactly is Forex trading? What is its history? What is the psychology behind it? And more importantly, why do so many people end up losing money?
As I started doing some research, it became clear that while Forex trading can be a legitimate way to make money, it’s definitely not a get-rich-quick scheme. In fact, many traders lose money because they don't fully understand the market dynamics, or they let emotions like fear and greed control their decisions. The reality is, Forex trading is a high-risk endeavor, and success often depends on experience, discipline, and strategy, rather than just luck or timing.
So, is it a scam? Not exactly. But the environment is ripe for scams, and many people fall victim to them—especially those looking for quick gains. It’s important to separate the legitimate opportunities from the countless "too good to be true" offers that flood the internet. It’s also crucial to understand that in both Forex and cryptocurrency markets, the promise of making quick money often overshadows the fact that you can just as easily lose it.
As I continue my exploration of these markets, I’m becoming more aware of the risks and rewards. It’s clear to me that if you’re serious about diving into either, education and a strong understanding of the market are essential. Otherwise, it might be easy to end up on the losing side, just like many others who got in without doing their homework. I am beginning to think my friend is sacrificing all his earned money in a scam, lets check on our friends doing these trades . In the coming articles, I will share more findings on this.....stay reading ..
About the author
Dr. Jjuuko Derrick, is a pharmacist with a keen business acumen. Having dedicated much of his career to engaging with business owners and employees, he brings a unique blend of pharmaceutical expertise and business insight to the table. As an entrepreneur himself, he is passionately committed to leveraging his technical skills and entrepreneurial experience to foster the growth and development of multiple businesses. Driven by a mission to make a meaningful contribution to the business landscape, he stands ready to empower entrepreneurs with the knowledge and tools they need to thrive.
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