Is earning BIG money in FOREX and in Crypto in very short time possible?

Philippines
November 12, 2021 8:53pm CST
My answer to this is a BIG YES. I'm myself studying FOREX and Crypto. I saw many lost their money because of GREED. But I also saw many traders got reallly RICH...! How is this possible? The answer is thru LEVERAGE. Yes FOREX and Crypto has LEVERAGE. Meaning the broker will allow you to borrow money. For example if you have $100 USD and you use 1,000 Leverage The Leverage will be 100:1,000 So if your trade is positive your money will now be $ 100,000 Easy huh? But remember LEVERAGE is a double edge sword. If the trade goes against you, all your money will evaporate LOL So only traders with many years of experience are recommended to use high LEVERAGE. I myself still studying FOREX and Crypto up to now so the learning process is non stop. To avoid lossing your money it is recommended to use RISK MANAGEMENT. By the way I'm not a financial adviser I'm just sharing my experience.
2 people like this
3 responses
@Deepizzaguy (122379)
• Lake Charles, Louisiana
13 Nov 21
Thank you for sharing the advice of handling money on Crypto and FOREX. I would hire a financial adviser since I have no idea of working with Crypto and FOREX at all.
1 person likes this
• Philippines
13 Nov 21
There is another way to grow your money in Crypto not in FOREX and it is called HODL. No leverage involved. But the gain is slow
1 person likes this
@Deepizzaguy (122379)
• Lake Charles, Louisiana
13 Nov 21
@solidcodes I will check it out since I do believe in not throwing money away.
1 person likes this
@Janet357 (75638)
13 Nov 21
I heard of this more or less but I am not interested. I still want to work for my money. Not fund of shortcuts
1 person likes this
@sinari (4995)
• Indonesia
13 Nov 21
I had invested in forex many years ago, and my money ran out. So every time I hear Forex I feel less happy. But thanks for the info.