I Tried Trading Forex w/ $1,000 (ZERO Experience!)

In this video, I attempt to trade Forex for two weeks with absolutely zero experience to see if it's something the average person should try out to secure some bags.

The problem with Forex trading is it has attracted vast amounts of spammers – or just slick salesmen pitching an undeniably amazing, yet attainable lifestyle if you join their training/VIP group/mastermind/course/whatever!

I have never traded Forex before this experiment and had no idea how it even worked until I decided to dive in. Of course, I don't expect a few days of studying Forex basics and strategies to turn me into a profitable trader, but when so many gurus are advertising their services to the masses, I wanted to put some money on the line to try things out for myself.

The #1 takeaway you should get from this video is please, don't spend money chasing a Forex lifestyle or promises of massive profit. Forex is comprised of incredibly efficient markets, making it hard for the average retail trader to turn a consistent profit.

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0:00 Intro
0:39 What Forex Is
3:09 Charting3:42 My First Trades
5:22 Next Steps
6:23 Forex Signals
8:25 More Trading
9:40 How My Trading Went
11:46 Final Thoughts on Forex

#Forex

[DanielInskeep]

what do you think? want a forex trading update in a month or should i call it quits and move on to something else?

[CodySteckRealEstateVideos]

Bro, what you did wrong is you didn’t make a forex course after making that whopping profit on the demo account. You would have made way more money 😂

[rufmor]

Hey man. Quick tip. When trading forex try to trade pairs with lower spreads. In that EURNZD buy price moved 14 pips but you only cashed 3. That's 80% of your gains going to the broker

[larryloh]

I like your conclusions at the end of the video, very appropriate. FX trading is about gaining an edge over the mkt, having a system that wins more often than it losses. That means a system must be properly backtested, then forward tested in real world conditions before investing real money. Most of those selling signals are probably doing it because they can't make money trading, so they make it by selling a dream to others. "Those who can't trade, teach". Anyway great video!!

[OneCreator]

Trading Forex is really easy:
1) You open a demo account.
2) You open a second demo account.
3) Put a lot of buy trades in one account and a lot of sell in the other with huge lot sizes.
4) Scam people out of their money by showing them your profitable account and some astrology BS.

[martinhain]

Hi Daniel, that's some pretty cool insight. I love that you include your research strategies in these videos, this is where I'm getting the most out of your content. Thank you for that! Keep up the great work :)

[danp]

Finally someone is honest and tells people if they rely on signals they'll never learn the skill. These signals hurt a person more than they can ever help.

[Aaron.trades]

Love that you show the reality of trading! It’s not easy, it’s not a get rich quick scheme and it takes years of hard work! Great video man 👌🏻

[tinakohler]

Okay then, nice video lol, i think i'll look in to it.

[shaungreenwood]

it's profitable indeed but as you rightfully stated hard to learn, the hardest being self discipline (managing risk & sticking to your plan) 99% of retail traders blow accounts because they essentially lack this & treat the market like a roulette wheel

[darinelston]

Before discussing trading setups and possible strategies most importantly you needs trading plan. Trading is all about eliminating to the minimum the losing trades and achieving winning ones. A skill that takes time and a lot of work to achieve.

[milokaraffa]

Legitemately great content. I think you have a great potential for the future. Keep hustling. Good luck 🥰

[janmuller]

Really waiting for a video about your music production. Nice Video cutting and effects btw

[ramade]

Aight, it's time for you to learn medical and be a doctor for a week

[mrio]

I love to see you posting videos on your personal channel! I think it’s cool to see you branching out to your other interests! Super underrated

[Mark_Jacobson]

Great video mate 👍 in trading you have to find your edge... the lower the time frame the harder it is imo

[joechacon]

Super respect on your videos. Very insightful and transparent trades. Keep it up, I really liked the video where you challenged another trader and compared P&L in the end. I want to do that with other traders whom I know.

[memoriasIT]

I enjoyed the video, but this is literally a tutorial of what no to do lol

[primate]

This was very helpful and informative. Thank you for posting

[reelsallday]

Thank you for pulling the curtain back on this unethical niche and giving us the real picture of what everything is really like. About time someone did it