Truly Rich Club founder Bo Sanchez on FOREX (Foreign Exchange Market)...
I haven't tried this yet, not even attending a seminar or a workshop on how it works. I just read and learned from blogs and Youtube, but let me warn you, even Bro Bo Sanchez also mentioned that only 3% of people who entered Forex market earn money. Is that true?
On our previous entry, you possibly read that 85% Of people who tried stock market lose money but you can be part of the 15% who earn, the number is much better. So where do you want to get in?
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.
May your dreams come true,
Do you want to be guided on how to invest in the Philippines Stock Market the right way?
Join the Truly Rich Club.
For more information about the Truly Rich Club, go to this link TrulyRichClub or hit the "Get Instant Access!" button below.
The TrulyRichClub is an online private membership group founded by Bo Sanchez. It’s called “Truly Rich” because the subscribers are taught not only to be financially free and wealthy, but also how to be blessed in ALL areas of life: whether in the relationships, career, spirituality, health, and of course in financial life.