trading is that there's a lot of
scammers on instagram who throw around
this term while flexing Lambos and then
say that you can get a lambo lifestyle
just like them all you got to do is join
their live webinar and by their Forex
day trading mentorship so in this video
I want to set out to find out first of
all what forex day trading even means is
it a real thing is it just a topic that
people sell fake courses on and I'm even
gonna dive ahead first open a trading
account and try this whole concept out
for myself so before starting this video
I really did not know anything about
forex trading so I searched the term up
on YouTube clicked on the video it was a
guy talking while sitting in a Rolls
Royce I was I said okay I clicked on
another one it was a guy with a very
smooth voice as you can see this shark
is out of the water wearing a bathrobe
with the whole entire video then i
clicked on another radio this one was a
guy walking through his mansion the
entire video so right off the bat i was
really starting to question the
legitimacy of this business but then
finally i found a guy with the british
accent of the foreign exchange market
from the ten minutes of extensive
research i've done so far
i can tell you that forex is a global
decentralized market on which you can
trade currencies like the US dollar the
euro Japanese yen pretty much any
currency out there and it's kind of
tricky since the way it works is in
pairs so you're not just investing into
Indian rupees for example the man with
the British accent gave out a good
general rule of thumb where he said when
you look at a Forex graph let's say we
use the dollar versus Indian rupees pair
as an example the currency that comes
first up on the top here is the one you
believe is gonna go up and
correspondingly the other one you
believe will lose value so if I were to
buy into this pair I would be saying
that I believe the US dollar will
increase in value against the Indian
rupee and if I did that at this form
right here
bought in is some time passed and then I
didn't feel like this is the case
anymore I'm selling it here I'll then be
making a profit now this market is open
24 hour days I believe from Sunday to
Friday and just about anything can cause
the value of a currency to move we're
talking interest rates unemployment
rates political events inflation public
debt all kinds of fun stuff but there's
people out there who say there are
patterns and indicators and actual
graphs themselves that they can use to
predict where the price of certain
currencies can go and supposedly these
strategies are making these people a
whole lot of money so that kind of makes
sense for me I still haven't fully
dressed my head around it but I can't
keep you guys a better explanation just
yet because again I've only watched a 10
minute video on this topic that that
this is the whole premise of this video
I'm trying to get into this as a
complete beginner from a complete
scratch no prior experience while my
plan here is gonna be to do a ton of
research at the beginning of the week
I'm gonna look into first of all how can
I make money with this is it is that
even possible is it a real thing but I'm
also interested in different known
Instagram for expands out there I'm
gonna reach out to people just consume
as much knowledge as possible about this
whole mysterious world of forex day
trading and once I get a little research
under my belt I want to go ahead and
then dive into the live market with one
thousand dollars and see how that plays
out while I lose all of it
or will I be posted up in a rolls-royce
phantom at the end of this week with a
patek philippe straight and dripping off
my wrist I don't know so after consuming
a whole lot of forex YouTube content
during my free time for a couple of days
I was kind of starting to get a surface
level understanding of how this all
works and at that point I proceeded to
dive even deeper into this by reaching
out to one of the individuals whose
videos I came across during my search
for knowledge this was a Forex youtuber
named Justin I'm not affiliated with him
in any shape or form I just saw that in
his videos he was focusing more on
describing strategy rather than just
selling a lifestyle so I reached out to
him he was willing to hop on a quick
call and share some of the tips and
overall things he's learned during his
last 5 years of trading the forex market
a so after we got all the formalities
out of the way I began by asking him
what his best advice was for a beginner
such as myself it would be complicated
find a strategy that's consistently
profitable I then asked how can you wear
these currency practices abroad to go
and what he kind of looks out for
divergence is a specific type of method
where you look at price action and those
difference between price action and
whatever indicator you used ok so you
don't you don't use like fundamentals or
anything like that
you don't look at politics go movements
none of that could you say
also told me about the main platform
forex traders and normally use as well
as some other resources I could look
into this conversation was definitely
helpful Justin also pull it up with some
tips after the call and explained how
the leverage works with forex which I
definitely was not aware of so big shout
outs him for all of that but the biggest
piece of advice he gave me and the thing
that he emphasized the most was to look
into a strategy called the divergence
date trading that's a type of trading he
said changed his life and was the reason
he was able to become a full-time Forex
trader so I'm definitely gonna look
further into that but I also want to get
you guys involved in this so I'm gonna
put up a poll on my Instagram story to
see what you have to say about Forex if
you have any advice anything like that
and I'm also gonna put up a simple
yes-or-no poll asking if you guys think
Forex is a scam just to get the general
perception of it I'm really curious to
see how that put the result of that poll
comes out so I'll be back in probably 24
hours with the final check-in before I
actually start trading so it has been a
very enlightening 24 hours and I now
come to you not as via hesitation or
Forex moneybags baby by my Forex signals
mentorship indicators program because I
did some research on divergence day
trading and I kinda understand a note I
think I can probably explain it in like
twenty seconds so let me just do that
real quick so when you're looking at
this graph right here for example of the
US dollar against the euro you can add
more little graphs down here called
indicators or oscillators I'm just gonna
call them little graphs not sure what
all the different indicators out there
represent but they usually follow the
same exact path as the original price
graph however when there's a discrepancy
between the two this is called a
divergence and depending on what kind of
discrepancy it is it supposedly can tell
you where the price is gonna go next so
that's gonna be much try to do when we
actually get into some live trading but
the last thing I want to go over before
we do that is I want to talk about the
Instagram poll I put up yesterday and
what you guys had to say so the simple
yes-or-no words they treating a scam
poll one up twenty two hours ago out of
the almost 10,000 people who viewed it
about 4,000 actually voted and the
result came out to a 43 to 57 percent
split in favor
no but the fact that this vote was so
close it's kinda interesting it
basically means that half of the people
at these the people who viewed my story
believe that it is a scam so the general
perception of this business is not too
hot but things get even more interesting
when we look at the replies of the next
story where I actually asked for win
opinions as well as general advice ass
per usual about 90% of the replies were
people trolling but there were a lot of
people who actually take a seriously and
provided some good opinions and after
looking through a lot of the replies the
general consensus I kind of God was that
there are people making money with Forex
and it can be a legit way to come up on
a bag however the whole Forex pace is
flooded with scammy individuals who give
it a bad rep I think the reason behind
that might be the fact that day trading
is just an easy concept to sell you can
put a graph in front of anyone and say
that if you buy low and sell high you
can make millions I'm gonna teach you
how to tell when the price is gonna go
up or down and that's about it it's a
very easy concept for people to
understand and get behind so I think
that's why so many fraudulent
individuals get in the space and try to
sell useless information and that kind
of overshadows the legitimate people in
the space who are actually making money
with it that's that's at these that kind
of vibe I got from the people who
replied to my story but I'm also gonna
look further in some other things you
guys recommended for today though it's
Monday I got my Forex calm account
approved so I'm gonna transfer some
money into that as well as download
metatrader for so tomorrow I think we're
gonna be said to get in some real
trading I'm really hyped about this I
don't know if we'll even make any money
but I'm excited to try it out either way
I just hope both the teams that have fun
we do be having quite a late start to
the trading today I was hoping to start
in the morning but something came up so
I'm going to be getting into the trading
right now at 2 p.m. so pretty late start
here but I want to go over a few things
first I found out that you can't get
metatrader4 on a Mac computer when it
comes to Apple they only have it for
iPhone or iPad for some reason so I
download the app on my phone but I think
I'm gonna execute the orders through my
computer on the Forex comp brokerage
that's the one I'm choosing for this
video I'm still gonna look at the
metatrader4 charts on my phone though
just because this Forex website doesn't
actually have all the indicators I'm
interested in so shortly after saying
this I got right into analyzing the
spikey boys however once actually
started looking at them I couldn't find
any divergences so I said new plan and
just resorted to using different
patterns I'd find online then looking at
the RSI indicator to see if the currency
was being overbought or oversold okay so
think I might have something here
there's something called the pennant
chart pattern I'll put up what that
looks like on the screen as well as what
I'm looking at on my screen on the
computer right here so I don't know this
US dollar and Canadian pair right here
seems to be resembling this pennant
chart pattern as you can see we got the
little flagpole here and it's doing that
little narrow thing right here and we're
seeing the beginning stages of an
uptrend I believe so I'm gonna invest
right now and see what happens there's
some still not sure about how all the
pip stuff works but over here says that
I'm trading with about 40% of my account
so that sounds good to me I'm gonna
place the trade and the trade has been
executed ok let's see what happens ok so
as you can see here's our position right
here this is the level where it executed
and I think it'll be easier to tell if
we go on the line graph ok that's that's
not good this is where it's at right now
and this is where we bought it at but
I'm gonna be patient I'm not gonna be
emotional I'm gonna stick to the
strategy and hopefully we get past this
point right here so I can sell it and a
secure profit so after the first buy I
went ahead and did a bunch of scalp
trading which is basically where you buy
and sell pretty quickly to secure a
small profit each time I was using the
patterns I found on Instagram and then
was confirming whether it was a good
time to buy or not according to the our
site little graph down there and things
went pretty well there were a couple of
rollercoasters there we're in the green
baby are you seeing this where I buy $2
right now hand it over hand over the
assert okay just keep zooming up or I'll
buy three dollars there now in the red
again we're down by 30 cents what's
going on okay so dip once again but
we're back in the green but ended up
walking away with all of the trades
being profitable on the first day and
earning without six dollars I know it's
not much but I did learn a lot in terms
of how the brokerage website that I was
using worked how to buy and sell how to
read the charts how the leverage kind of
works so is a really good experience and
we did come out of that day profitable
the next day rolled around I took day
two a little more seriously I set up my
old laptop to have the Forex charts on
there so that way I could work on my
other laptop and just look over to check
on how the trains were going whenever I
needed to but I continued doing the
little scalp trades I was still learning
a whole lot at this point I even tried
executing a short position for the first
time ever so that was pretty exciting
and shorting basically means you toss an
you know reverse card on the graph and
say that do you believe that the graph
will go down and if you're right you
make money if you're on
you lose money so once again I did very
low risk trades for day two and ended up
somehow coming out profitable on every
single one of them I couldn't figure out
how to get a trade history report on
here so here's me refreshing the page at
the end of day two to show the results
and that we made 10 dollars and 43 cents
total given that we started with $1000
we were now up one percent in two days
so hey if we're trading with 100k that
would be $1,000 that we would have
earned in two days so not too shabby but
with all of this experience and research
under my belt I decided to go all-in on
day three of trading which would be the
final day of this challenge day one was
practice day two was warm-up day three
it's game time
the real load today is gonna be the
final day of trading we can have since
I'm uploading this video tomorrow so I
thought that it would be kind of
interesting to test something out since
for the last two days I've just kind of
been moving slowly and steadily I've
been looking at patterns I've been
looking at the RSI indicator just taking
a whole lot of things into account and
in doing that we have been consistently
making a small profit but I'm not really
sure if it's just luck or if we're
actually onto something here so I
figured it'd be a good idea to test that
out today and start off the day but just
going into a bunch of random trades to
see what would happen if we're still
making money then everything we've been
kind of doing here is pure luck but if
not maybe we're onto something here by
looking at these patterns and taking
accounting these different indicators so
let's just go ahead and start off by
going into some random trades today and
see what happens yeah that was
definitely not my best idea as soon as I
started going off randomly I started
losing money may I add very quickly at
one point I was down by like $50 but I
kind of just stuck through it and ended
up getting back out once had my original
thousand dollars back and from there I
continued doing what I did for the last
two day since the whole going in random
technique did not go very well and on
this third day I also finally spotted a
discrepancy in the price in our side
graph so we had a divergence on her
hands and this one indicated that the
market was about to fall so I went in
with a short position and did eventually
come out of it with two dollars 40 cents
profit I really did not play it too well
I got in a bad time and got out kind of
early but still I got to try out the
divergent strategy and it worked before
we get into how much
made Tobal here i want to go over a
couple of things and please take them
with a grain of salt again I've only
been doing this for one week but when it
comes down to answering the question I
asked in the beginning of this video
whether Forex is a scam or not I really
wouldn't say so I think it gets a bad
rap for the wrong reasons
and I understand why from researching
this topic I mean so many just
completely obviously scamming
individuals and videos would pop up that
it was just ridiculous some of this
stuff was so bad it just felt like SATs
are you it's something I would say in a
video as a joke but these people were
obviously not joking based on all the
affiliate links they put in their
descriptions all that aside though after
looking into Forex and actually trying
it out for myself
I definitely say that I now have a more
positive outlook on it than I had before
I tried it out although I really don't
know how sustainable it is I wouldn't go
as far as saying that it's a sustainable
form of income trading online is very
different from starting an online
business forex trading is more like
learning a skill and then using that
skill to compete in a risky sport it's
nothing about it is very passive it's
not like a business that you can start
and then eventually step back from it
and have it all automated so the
conclusion I kind of came to here is
that there definitely has to be people
out there making consistent money with
Forex but if you want to try it out I
definitely recommend you do a ton of
your own research I think that people
out there who are actually consistently
making money with this have been
learning and practicing this skill for
years so you definitely have to be very
patient with it but all that said I did
have a lot of fun for taking in this
training for the last couple of days and
for the first two days we came out to
ten dollars and forty three cents profit
but it's not about the money some here
because we're trading with a really
small amount it's about the percentage
and we made one percent might not sound
like a lot but a good savings account at
a bank will get you like two percent in
interest rates per year we just made one
percent in two days so I mean by my
boards membership they did no but in all
seriousness on the third day we were
down by like over fifty dollars
eventually that came back up though I
did some more scalp trading and we had
the one divergence trade and with all
that we managed to come back up to ten
dollars in profit flat
so basically we're walking away with a
one percent gain in three days if I
hadn't pulled all those stupid trades
earlier today you would probably be
walking away with a one point five or
even two percent game and if you think
about it if you can get half of a
percent daily he's very consistently
with Forex and you do that with a large
sum of money you can actually make some
serious money with it so I guess I
definitely think it is possible to make
money with this it's entirely possible
so I hope that you guys enjoyed this
highly requested video and let me know
in the comments what kind of
money-making scheme I should get into
next hope you guys have a great rest of
your day peace
