Tyler WagnerFounder, Authorsunite.com · Authorsunite.com and Partnerprofits.io Founder - #1 WSJ Bestselling Author - Book Publisher - Book Marketer - 4,000+ Authors Served - Millions Of Books Sold By Clients - Investor

The Problem with Forex Trading

Name: The Problem with Forex Trading
Uploaded: 2023-02-11T14:45:00+00:00
Duration: 41 s
Channel: Tyler Wagner
Description: Tyler Wagner explains how retail forex traders can lose everything in seconds using extreme leverage. In the US, leverage reaches 30x; abroad it hits…

11 Feb 2023 · 1 min

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Tyler Wagner explains how retail forex traders can lose everything in seconds using extreme leverage. In the US, leverage reaches 30x; abroad it hits 500x. A $1,000 deposit can control massive positions that evaporate when unemployment data or other macro news moves the market against you.

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Problem with Forex is that, like, and a lot of people don't talk about it, is that there's a lot of leverage that's used in Forex. Leverage is like the borrowing of money, so you only need to deposit a little bit of money to play with a lot of money. The leverage can, you know, range from like 30 times to even overseas, if you're not in the US, like 500 times your initial amount. People that start, they're like, okay, I like went through baby pips, I'm good, I understand terminology, saw some like guy's strategy online on some forum, I'm gonna do it. And then all you do is deposit like $1,000, you, you initiate a really high position because you because you have the leverage to do so, and then it moves against you, or some kind of news hits, like a news event hits, like unemployment rates or whatever in the US, it moves against you a lot and you blow your whole account instantly.