Making money(Forex) online in Dubai , Myth?
Dubai Forex Brokers
June 26, 2015
Its funny but been asked lot of times , is it true making money online by Forex trading ? Lot of chaps in Dubai really energetic to avail their free time doing something and to generate some bucks. I have met lot of people doing so , even house wives but they know exactly how it could be happen all well.
So let me tell you, yes, and if it look like a bit stuffy or spam to you what i am talking about, give try to Forex demo account yourself while having learning curve of all technical analysis been required to trade virtual account of $50,000.
Forex currency trading is risky.
I will not say this is MYTH at all. Forex trading is risky, even all Forex brokers are required to put this heading on their advertisements and websites all the time as per compliance instruction , no matter it is FCA-UK or UAE central bank regulated Forex broker. But this does not mean, all of your money will lose all time, this need very strong Risk management techniques to avoid loss. A comprehensive technical analysis and strategy will always help you to achieve milestone , you looking ahead in trading.
Also make sure, you are not investing the money in Forex , which you could not afford to lose. For example, pampers for your baby needed 100 AED and you should not invest this to Forex trading at all.
One more interesting example i want to share here about the guy who contacted me 1 month before, He is working in top position in big company here in Dubai. This guy took loan around 100,000 AED from bank and invested in Forex, He lost around 25K AED and asked me what he need to do. So taking loans and doing Forex trading in Dubai will never be advisable.