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Forex – General Outlook on the “Get Rick Quick” Label

  • June 2015
  • Posted By Ninoslav
  • 0 Comments

Firstly, it is necessary to define and explain what Forex really represents. The foreign exchange market (forex) is actually the largest and most liquid market in the world with a ridiculous $1.9 trillion traded on a daily basis. With that being said, it is extremely easy to understand how the market is often touted as a “get rich quick” market. The entire idea of forex (FX) is that currencies are traded.

There may not be a central marketplace for currency exchange, but there are major financial centers in New York, London, Tokyo, Hong Kong, Zurich, Singapore, Frankfurt, Paris, and Sydney. Each of these hubs is open 24 hours a day, five days a week to accommodate the differing time zones and giant market. The foreign exchange market assists international investments and trades by allowing for currency conversion. Basically, someone will buy a particular amount of one currency with the equivalent amount of another currency.

As for the label of “Get Rick Quick”, it is simply untrue. It is certainly possible to make money through forex unfortunately it is unrealistic. Many individuals go into the market expecting to make quite a bit of money, only to realize that the larger brokers are tempting and taunting their way to more money. The idea of forex needs to be focused on, as a business would, slow steady improvements to capitalize on long-term gain.

It is expected that a $1000 investment should make at least $50 a day in order to make even half of your investment back. When you take into account the trillions of people making investments as such, it is difficult to comfortably predict that making a substantial amount of money, lead alone “Getting Rich Quick”, would be possible.

However, the continued usage of the phrase “Get Rich Quick” has prompted a steady increase in participation by many businesses and individuals, alike. Therefore, it is safe to say that the increased traffic may actually provide some benefit to the first time forex participant because of the larger cushion that may be given due to the large population. The key is to maintain a risk level and do not get greedy when moving up.

Bottom line, foreign exchange marketing is not a “Get Rich Quick Scheme.” It is a business opportunity that requires a lot of effort and hard work to meet the criteria for any type of financial gain.

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