According to research, 97% of people who get into FOREX don’t earn money;
they lose money.
Truly Rich Club founder BO Sanchez on FOREX...
Forex, Anyone? Evaluating Other Options of Earning Extra Income
Forex, Anyone? Evaluating Other Options of Earning Extra Income
FOREX ads are all over Facebook. I’m sure you’ve seen
them.
A pretty girl saying, “I earned $463 in two weeks!”
Click on it and it will lead you to FOREX seminars,
programs, and classes. FOREX means Foreign Exchange Market.
In every financial seminar I give, I always get this
question: “Bo, what can you say about FOREX? I want to earn extra income…”
I asked my mentor and he told me the sad news: According
to research, 97 percent of people who get into FOREX don’t earn money; they
lose money.
Wow. When I heard that 85 percent of people who get
into the stock market lose money, I was already shocked. But 97 percent?
Jeepers.
But instantly, I understood why it was 97 percent for
FOREX.
Let me explain: Most of the 85 percent of people who
lose money in the stock market are traders. The 15 percent who earn money in
the stock market are long-term investors—just like you and our TrulyRichClub
Members.
But FOREX, by nature, is pure trading. Long-term
investing in FOREX is rare or almost non-existent. That’s the reason for the
appalling figure.
If you still want to go into FOREX and attempt to be
the 3 percent that earn from it, I can’t stop you. It’s a free world. (My
mentor is part of that 3 percent. Yes, he does FOREX and earns. Why? This has been his world for the past 40
years—and he’s doing it fulltime. But he just puts a little bit of his money in
FOREX. How little? A tiny sliver of 1 percent of his cash. He does it just to
“feel” the world market. But 99 percent of his money is in the various stock
markets of the world—US, Europe, Hong Kong, Indonesia, and the Philippines.
One day, I asked my mentor, “Do you suggest I get into
stock market trading? You could train me…”
He said, “Bo, just be an investor. So you can FOCUS on
your business.” I nodded. Trading isn’t my core gift. It will sap my energy,
attention, and time away from my businesses.
Today, I give you the same advice. (However, if
trading is your core gift, then go ahead. My mentor is opening a special school
for traders very soon.)
Otherwise, remain an investor. Be loyal to SAM
(Strategic Averaging Method). And be focused on growing your business or
career. Because at the end of the day, if you’re faithful to investing every
month, you’ll still retire a multimillionaire.
-source: www.bosanchez.ph
