Investment

Why Is Forex So Popular?

Why Is Forex So Popular?
The Path To Quick Profits Or As A Way
To Accumulate Wealth Over Time?

 

Why Forex Is So Popular

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Why is Forex so popular right now? As I’ll show later, the interest in Forex has never been higher. And that is saying something, because I got involved in Forex trading when it was all the rage back in 2007 and 2008.

Obviously, Forex trading was not all that popular with regular people before the invention of the Internet. But due to the Internet, non-professionals like you and me were given the opportunity to interact directly with the currency market. And this was a game changer in terms of Forex popularity.

Sadly, the way the Forex market was presented to the public led to unrealistic expectations and lots of broken dreams. And that is unfortunate, because the REAL opportunity trading the Forex market presents is extraordinary (if poorly understood).

In this blog post I want to explore my beliefs on why Forex is so popular right now. But more importantly, I want to keep you from making the same mistakes that led to lots of Forex failures in the past.

For some of you, this might just be your second chance to tap into the true wealth accumulation power of the Forex market… and secure your financial future.

And if you are new to Forex, identifying the right way to approach trading the Forex market can be the difference between success and failure.

 

My Analysis On
Why Forex Is So Popular Right Now

Let’s take a look at this Google Trends chart from 2004 to present, and then I’ll go over my thoughts on why Forex is so popular right now.

 

Why Forex Is So Popular

 

As you can see, from the start of the chart in 2004, the popularity of Forex was on the rise. This was when I became interested in Forex trading myself.

You see, after moving to Chile with my wife, I became interested in making money online. This led to creating my own online businesses, which is still a part of what I do. And the ability to trade online was another opportunity to make money from home through my Internet connection.

Why Forex Was So Popular From 2004 to 2009

I think Forex was so popular during this time period because of the promise of fast, easy riches. At the time, there were lots of “secret” strategies and Forex robots that were being marketed. The promise was you could make a very small investment and generate a HUGE return in extremely little time.

I mean, who wouldn’t be interested in something like that, right?

The problem was, this set the stage for the first impression of Forex to be misleading. People looked at the Forex market as the path to quick and easy profits. And most of the people that got involved in Forex at the time ONLY saw the Forex market as a way to make fast profits with little money and no effort.

Of course, this was wrong, and the reason most people failed.  

Which leads me to my next conclusion…

Why Forex Saw A Decline In Popularity From 2009 to 2019

If Forex was the path to fast riches with little money and hardly any effort, why did Forex popularity go down?

Simple. Because approaching Forex as a get-rich-quick gimmick led to failure.

After years of taking courses, trying special strategies, indicators and robots… people did not become immediately rich. And they had tried and failed so many times, they just didn’t want to do it anymore.  

Plus, people with a bad experience with Forex talked online so much about their failures… that other people didn’t even want to get started in the first place.

 

Sidebar: I want to be clear. There were a lot of scams and unethical marketing going on at the time. But I would also contend that the promise being promoted by marketers also contributed to both people’s failure and the drop of popularity.

Something that promises to make you rich overnight with a low investment and no effort is always going to lead to failure. So, the unrealistic introduction people had to Forex was a big part of the problem. And this led to people missing the TRUE opportunity for wealth accumulation the Forex market DOES provide.

 

Another reason Forex dropped in popularity was the rise in popularity of Binary Options.

Rise in popularity of binary options

 

Do you see how the popularity of Binary Options was on the rise at the same time the popularity of Forex was declining?  

My theory is that Binary Options increased in popularity because they were promising fast riches with a small investment and little effort. Sound familiar? The same unscrupulous marketers just switched from pushing Forex related products and services to pushing Binary Options related products and services.

(On a personal note, I never even tried Binary Options because the risk to reward ratio is always upside down for my way of trading which has led to my success).

Again, years later the popularity went down because it didn’t deliver as promised.

 

Why Forex Is So Popular Recently

As you can see from the first Google Trends chart, the popularity of Forex has risen lately. As a matter of fact Forex is more popular than ever.

Why?

Simple. Due to the Coronavirus Pandemic, people are desperate.  

People suddenly thrust into financial insecurity are looking for a way to make money fast, with little startup capital and a short learning curve. Plus, enough time has gone by that many who tried Forex before may have forgotten the Forex market didn’t deliver on this promise the first time.

And that is the real problem here.  

People were introduced to the Forex market as a way to become extremely rich very fast and with little effort. When it didn’t deliver, they abandoned the Forex market all together.

And this was a big mistake, because most people missed the TRUE value of the Forex market… the ability to accumulate wealth faster than other investment opportunities.

You see, the Forex market does have the ability to make you rich… but just not in the ultra fast time frame you were led to believe.

Let’s go into this in more detail…

 

What Most People Want Out Of Forex Trading… And Why This Approach Leads To Failure

Most people want to become rich in the shortest time possible, without risking a lot of money to get started and with little to no effort.  This is just human nature.

So, marketers framed the Forex market as a way to accomplish this desire. And when the people who got involved in Forex failed to become instant millionaires… they abandoned Forex altogether feeling cheated and scammed.

Don’t get me wrong. Scams around the Forex market did and do exist. But Forex trading itself is not a scam.  And you CAN make a lot of money trading Forex.

Entering into Forex trading with the belief you can take $100 and turn it into $1,000,000 in a month is going to lead to failure. This is not realistic and any strategy or robot you use to try to achieve these results is going to fail.

However, there is a real opportunity to accumulate wealth using the Forex market that gets overlooked while people are striving for these unrealistically fast and easy profits.

It is the ability for the Forex market to help strategic traders accumulate wealth faster than other investment opportunities, create multiple income streams and secure their financial futures.

So, the Forex market won’t allow you to snap your fingers and become an instant millionaire. But it CAN help you grow tremendous amounts of wealth in a shorter time than other investment opportunities.

 

What People Should Want Out Of Forex Trading… And Why This Approach Leads To Success

While most people were misled into striving for unrealistic profits, they completely missed the true potential of the Forex market. They didn’t see the extraordinary wealth accumulation possibility that was staring them right in the face.

I believe it is very hard to reach financial security by just working hard and saving. You must invest by putting your money to work to make more money. And most investors are very happy with average yearly returns of 6% to 8%.

Over decades of investing and getting these returns, you can amass a huge amount of wealth due to the power of compound interest. Even a moderate investment with small additions can lead to a lot of money.

Pretend you are 20 years old and invest $5,000 with a monthly addition of just $200 a month. Let’s see how much money you would amass by the time you are 65 years old (45 years of compound interest), getting a 6% return annually:

 

Compound Interest

 

Wow. Even with that modest initial investment and monthly additions, you would have over HALF A MILLION DOLLARS.

This is why this type of investing plan is so widely promoted.

The problem is, most of us, myself included, did not get started investing in our 20’s. We cannot take advantage of 45 years of compound interest. That means our ability to accumulate the wealth we need in the time we have is not going to be accomplished by following this investment plan.

So, the only way to make up for lost time is to get better returns on our investment than other investment opportunities. And that is exactly what Forex trading can provide.

Here are the results of one of my accounts compared to the S&P 500:

 

Comparison with S&P 500

 

This is an example of what a small investment of $2000 can turn into due to Forex trading compared to the S&P 500 (the commonly held benchmark for investors).

By taking a more strategic approach to Forex trading, one that generates fantastic returns (not overnight riches), you can make life changing profits faster than other investment opportunities. 

And while this is not the promise of being a millionaire next week… it is a REAL path to the wealth you need for a secure financial future in the time you have.

So you see, by focusing on the real wealth generation abilities of the Forex market (instead of the lie of overnight riches), you can use the Forex market to make your financial dreams come true.

And this power, although unrecognized, was sitting there in front of everyone right from the beginning.

In short, the way Forex was introduced to the public led to unrealistic expectations. When these expectations were not met, people abandoned Forex trading altogether. They never identified the true potential of Forex trading… which is extraordinary wealth accumulation over time.

 

The Fastest Path To Forex Success

I think it is easy to understand why Forex is so popular right now. People are looking at Forex as a way to make money fast and end their financial insecurity brought on by the Pandemic.

Unfortunately, looking at the Forex market this way is a mistake. It is the same mistake people made during the initial rise in popularity of Forex. And as I’ve shown, this approach leads to failure.

But does that mean you should abandon Forex altogether?  ABSOLUTELY NOT.

Trading the Forex market is a powerful tool that, when approached correctly, can help you accumulate wealth faster, create multiple income streams and secure your financial future.

You won’t become an instant millionaire. But you can accumulate more wealth, faster, than other investment opportunities and make up for lost time. And that power is not something you should ignore.

And approaching Forex the right way is easier than you think. Just follow the lead of someone who approaches trading Forex the right way and teaches what they do. And it only requires 1 minute a day.

 

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I, like many of you, got a late start to investing. I was not on a path to a secure financial future, and the widely accepted investing advice I saw was not going to get me there. Luckily, I correctly identified Forex trading as a way to achieve higher than average returns and help me make up for lost time.

And I can teach you to do exactly what I do with a 100% rules based trading strategy.

You might have been drawn to Forex because of the outlandish claims. But finding out those claims were false should not stop you from getting involved. The REAL wealth accumulation power of Forex trading is still extraordinary and can help you reach a level of financial security otherwise out of reach.

You won’t be able to snap your fingers and become wealthy overnight. But you can put yourself on a path that truly leads to a more secure financial future.

 

To Your Wealth,
Edward Lomax

 

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