My Take on FOREX TRADING đ„đ„đ„đ„đ„đ„đ„
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- Äas pĆidĂĄn 6. 09. 2024
- I hope no one eats me for this post... remember that this is just MY opinion!!
#theblackpen | @penzoid on Twitter & Insta
Motivational Speaker & Financial Teacher
any business model can be considered gambling depending on how you do it. there are thousands of full time traders who dont sell courses and make a good living by trading alone.
Edwin Kasonga This is very true. I think the biggest issue with forex trading today are the lies. People aren't aware that you can lose money or that it's not guaranteed. I think that's the biggest problem.
Remember how risk works I'm willing to say opening up a business or betting on a horse might be less risky... hence the high reward for getting it right in forex which for me I find it hard to believe that we can consistently make money from this or have the capital to play... great video if you ask me... doesn't discourage but rather gave us full information
....you cannot compare the control you have starting a business to forex gambling. NEVER!!!
No,treat it like a business and forex is not gambling when u know what you're doing,with that being said it's all about risks
Its people like u we need to restore this fallen society and are influencial to change a whole lot. Dont sleep on this gift and at the same time stay safe niggha man. Highly appreciated đ
Power to this comment.
Brother you are doing yourself a favor by distancing yourself away from forex - but yhats only on your opinion. Many have their diverse positive opinions and are at liberty to embrace Forex. If you have a bank account - yo money is traded everyday in stockexchange by your bank without your permission and you getting no commission. Then gambling is better than robbery. You're venturing to business - you also dont know if it will work - so, you are gambling!
THE SECRET IS: THE MARKET CAN ONLY GO UP OR DOWN NO MATTER WHAT!!! YOUR JOB IS TO FIND THE TURNING POINT - IT TAKES OBSERVATION SKILLS.
You just explained how it works not what it is.
Luyanda cwane well said my brother
aaah Pen thank you, was arguing with my brothers nje recently because I said the same you just said now, forex is glorified gambling. thanks for simplifying it. and we truly need such information.
nonhlanhla ndlovu Thank you Noni. I'm glad I could help. Lots of people are in denial about forex for so many reasons.
Yoi have got charts, indicators , stop loss ...that is not gambling
Thanks Penuel, very valuable helpful information, it makes a huge difference to hear it from our own kind. Africa will rise if more of us share our experiences, forewarned is forearmedđ
Precious Dee Lovely quote Precious!!! Thank you so much. Let's keep engaging!
This guy is talking nonsense
Guys making black people poor.
And you believe him đ
Bruh, forex and gambling are not the same... Any business venture is has a risk factor to it and forex just happens to be the same. Just because u were not able to make it does not make it gambling. U just werenât cut out for it
It is gambling but if you have an edge you become the casino
I agree đŻ forex or stock trading is not for everyone. It is about learning about yourself. Most people consider themselves very intelligent and it is easier to blame the tool than to look within. Which I believe is the case, in your assessment of forex.
You just earned yourself a subscriber...well done
Sorry for the essay bro but I think we blacks need to see this: since most of us don't get financial education from home nor school.
djfingatips1 Let's all keep learning and growing.
You cannot control the market but you can learn how to move with it and make money while doing so.Stop spreading lies.
Study monopolies.
For me forex is unlike gambling but similar to weather forcasting.traders applying skills such as technical analysis to predict the next move on financial markets just like meteorologists who apply their skills to predict weather changes.Unlike horse racing betting brother
Glorified gambling if you risk too much !! Forex is about consistant profit, focusing on what you can lose NOT what you can make, its about making small profit that adds up over a long period of time.
Forex is a probabilities game, you have to understand how those banks behave during certain types of events, it's not even about the event itself, it's about how traders will react and how the banks will use that liquidity to achieve their goals.
All you have to do is wait for them to play their hand and just follow what they do. At least that's how I've come to understand it.
Yes you explained how it works but not what it is.
Bro you just don't know what u talking. Forex is not gambling, n its not a sport. Treat it like business n stay dedicated you will make money. Don't drag people with you
đ€Łđ€Łđ€Łđ€Ł
You can treat any gambling like a business and make money. That's a great mentality but that doesn't change it from gambling.
very real perspective - you cant control the market as much as you can read and study the signals and what not. The movements are all controlled - look at an average currency movement each day or even an hour - crazy.
eben mbhele Thank you for this Eben! fully agreed.
You cannot control the market but you can learn how those who control do it, over time youâll be able to spot the manipulations and profit them. The thing is people go in expecting to make a quick cash which is the wrong mentality. Thereâs a reason why doctors go to school for 7 years. Go in with the purpose of learning a skill thatâs gonna sustain for for a lifetime, this is not going to happen in 2 years. Especially if you not 100% full time
@@sethobjab veey profound words. Unfortunately trading is not for everyone. I personally do it for a living but would never recommend it to other people as i don't think many people can survive the kinda stuff i went thru over the years. However i don't mind sharing ideas with serious traders (successful or not yet successful) who got into forex on their own.
He doesnât know what he is talking about , you left the industry too early , this ainât no gambling , ive been trading for the past 9 years and only managed to make money after 7 years of trading and Iâm full time on it, quit my job early this year because of it.
Just because you failed at it doesnât mean itâs gambling , you need to be persistent, itâs hard and itâs not for everyone.
JobeFX Capital true. Hes lost. He gave up so early
Sounds like someone who was not practicing risk management and doesnât understand probabilities. Trading is not for everyone
SO true. Well said. It's because some people think they will make money in less than a year, just as they were told. Well for us, it took us many years. We never thought of giving us. Forex is our life.
To each his own.
I like when the Forex veterans says "Forex/trading is not for everyone" that phrases is deep.
True that, I've seen K.O 's (SA Rapper) pic standing next to his car on one of the Trading company AD
Straightup marketing & brand leverage. Get someone who is trusted to make your product/service appealing.
If you sell fruits you not sure whether ppl will buy ur fruits so do you take it as gambling bcuz you don't have control over the sales
Thanks Bro..This is an insight that many wouldnt share
Dakalo Netshiya I'm all for real education Dakalo.
Following your channel was the best decision I've made in weeks...
Kholofelo Stixx Sebati Hahahaha. thank you Kholofelo.
I want to hear his stance now that we are killing it straight out of high school
People who make money off FOREX is a classic case of what MJ deMarco calls "During a Gold rush, don't dig for Gold, Sell Shovels". The trainers are the only ones who make money.
True and people are in denial
My question how does forex makes it's own profit? I think we all know the answer.... is exactly when you say how does Mchaina/Fafi/Casino and Spotbet how do they make profit coz its business... where have you ever heard that Lotto is bankrupt? Wake up South Africans easy come.... easy... african proverb
99% of forex mentors make money from students not forex hope I'm clear... I hv alot of forex mentors who are my friends... So I know how shit is done
i dont think its gambling if u know what u r doing or if u have mastered it
Forex is not glorified gambling. It is speculation and not gambling. There are things which cause the markets to move which can be studied and tested for a long period of time.
Profitable trading methods are now known among people these days with the added help of social media. You quit Forex a bit too early.
I have watched many of his videos Oliver Velez you need to do it the right way it's not speculation I also thought that until I listen to Oliver Velez 40 years forex trading experience I know how you feel do me a favour and listen to how he explains trading it's not gambling or guess which way the markets will go people need proper teaching
''The more you learn the more you earn, the problem with forex is how it is marketed, the flashy lifestyles, and people think you can wake a millionaire like your lotto and sports bet, Forex changed my life and the people around me ..never had the mentor like you but I made it myself, it's like obtaining your degree, it takes time to learn,it took me three years to make it..carry on betting on rugby..now that's a gamble.
Anything that includes risk I consider gambling cos I define gambling as betting on something with the hope of getting good returns and thats how it is even in business meaning not even the biggest investments taken in other industries can fully be controlled by the investor himself,as long as there's a chance of failing the you're gambling just the environments are different. Yeah forex trading or trading business as whole is the riskiest business out there probably why we have so many mentors who don't really trade but we still can't put away the fact that it's the most rewarding once you consistently profitable and that is the reason why some chose to stay.
Thank you for this.
Lol, I feel u my brother... I really feel u... But I need to trade 0.01 until I get it right... It's been couple of yrs... Lol, the frustration of unsuccessful days lol... Ijooh
Life is a gamble we do not have full control over. We make plans for tomorrow but non of us knows if we'll be alive. The only difference with Forex is you can minimize your risk and maximize your profit. Now go try to do that with sports bet and business.
You can't compare Forex to Horse Betting, garbling: yes, horse betting: no. I personally call bull sh!t, but thanks on the insight
He doesnât know what he is talking about , you left the industry too early , this ainât no gambling , ive been trading for the past 9 years only managed to make money after 7 years of trading and Iâm full time on it.
Just because he failed at it doesnât mean itâs gambling , you need to persistent, itâs hard and itâs not for everyone
@@jobefxcapital1738 9 years? wow.
Real traders don't train people, they're too rich for that shit. Why train someone for R5000 a month when you can be making millions per day???
Nigga you the best.. I saw it first time I heard about it.. It's gambling.. đ thanks man
Yeah and always use money you're comfortable with losing. Once you deposit, the money is gone. Your duty is to get it back.
I do not know what moves the markets but it is not news and interest rates announcements
People who say FOREX and BUSINESS carry the same risks dont have BUSINESSES. They must try trading alone...and must not try to SELL COURSES to others. Ba tla utlwa ka letlalo!!!
Bro you saying all the wrong things.. "forex is a glorified gambling" & "treat forex like a hobby"... I won't say much but the only reason you gave up trading is because you were losing trades, you lack the KNOWLEDGE to be a profitable trader that's all
Give us the right reasons.
True, people they quickly to give up. Forex need you to learn, it can takes u years to master it
You have the wrong perception brother it's not speculation neither gambling or guessing will come back to you after my training with Oliver Velez they not trading whole day looking at charts 1 hour a day they do it every day
You are right Pen, I wish I had came across this video two years ago and I was just gonna quit on it without He
hesitation.
đđđI respect you bro but what you just said Forex is a gambling đđI can't concur with you.. I trusted that you know about economics but seems I was wrong đđ.
Let us hear your wown explanation.
@@lopezdube9043 I was hoping to see Kgotso's reply - đ I'm sad he never replied.
There is a secret and I know it and I use it
I wish I had seen this video 2 years ago.Iningi imali elahlekile la.
Going to school is also gambling bcz there are no guarantees that you are going to get employment.forex will give you financial freedom if you are serious and persistent
Trading forex and losing money is definitely a form of schoolfees... as long as you're learning.
Yeah you are right but so Is life. Everything is risky. The moment you were born it got risky. Everything we do is a risk and what we can do is to either try to calculate the risk or move around it. It's not just about Forex, it's about everything else.
đđđ€Łđ€ŁSomebody tell this clever black it's not gambling... Gambling is trading without a trading plan, forex is 90%mindset... The reason penuel left forex is because he listened to these "experts" teaching retail trading which is gambling... Penuel my friend if you want to be profitable in forex you gotta trade like the banks
institutional trading ....yesir
As a forex trader myself this is something incorrect
Finally someone who accepts that this is strategic gambling. Yes life is a gamble but there are things that are more of a gamble than others. When you have very little to no influence on a financial opportunity than that is called gambling. Take it as a hobby, or something that can be a bonus to your income and you will be ok. Maybe you might get rich if you don't take it too seriously.
There are lot of forex guys attacking him because they're trying protect their interest
No. It's because he lacks some knowledge on it.
@@wandabhala933 he was a failed trader. We're showing him his possible mistakes. Don't get advice from failures.
Keep sharing you could be iconic.
Jacob Dinoko Thank you Jacob!
DEEP BRO, THAT IS REAL TALK, JUST KEEP IT CLEAN MY FRIEND.....POWERFUL PRESENTATION, "GLORIFIED GAMBLING" IT IS
The junk status was good for our bond prices so for a country it wasn't necessarily a bad thing
I wonder if you still have the same view on forex Penuel?!
That's why you hedge that way you break even or you win
Lol both my mom and dad were betting horses every day đđ now here I am googling forex trading đđđ
đđđ I see your family biz is gambling!!!
I respect poverty đđ€Łđđ€Łđ mna my grandma used to play lotto a lot when she worked in the cities.đđ€Łđ She still regrets it even now and hates anything that has to do with lotto or gambling.đđ€Ł
Mpho Moses itâs madness đđ
Sir you have made my journey more clear thank u
Just because you lost a lot of money doesn't mean you must talk B.S about forex.
I think you should go back and do your search...
Hahaha... forex traders get very touchy around forex.
If you're making money, don't let me stop you... but this video is vital for all novices and people who are unsure.
@@godpenuel Trust me he is making no moneyđIt been 5 years and I guarantee he quited by now after finding out this thing is gambling.
True bro, that's why I've never gotten into it cause to me it sounds like the sister of pyramid schemes.
#Mbambo
You lack knowledge my brother.
@@bongonkohla5013 if you say so.
Itâs not gambling it didnât work for you itâs working for a lot of us yo strategy sucked thatâs why you struggled.
penuel did not invest enough time into this.
what did you expect if you think you will win with your technical? lol there are many factors that influence changes n movement in forex you should have just being a fundamental trader then maybe you would see it as a business
I was an Economics major and worked in banking, amidst all the other literature I read.
I believe I'm well-versed in all the various factors that influence currency movements, including human emotions, propaganda and fake news.
forex and betting horses aint the same, ka gana...
Bafo you are a good speaker when talking about other things , but when it comes to FOREX please find more info about it , because I see you need more understanding about it , I have got friends who trade for real and they are filthy rich through FOREX trading ,and I have started 2017 July learning FOREX . Yes at first I was like it a gambling , but now since I started making money consistently even though myself im not currently rich in FOREX is not gambling and with the knowledge I have now about FOREX trading, I can clearly see that it not gambling at all and PATTERNS on the market are repetitive even though are not the same but the market do same thing over and over once you see and understand that in the Market , that will be the time you know FOREX is not gambling , but take time to learn more about it , the best teacher is yourself.
Fake.
You are getting good or great on making money in gambling that doesn't change the fact that it is Gambling. If it works for you that awesome.
It been 4 years. are you filthy richđ
What is your take on Bitcoin
Was watching the Nashville bitcoin conference đŸ
Penuel forex no child play
Thanks for this video brue
Your understanding of the game is of an amature
This is a very misleading video especially the "glorified gambling" and "hobby" parts. So yeah our people can ignorant and its sad.
im also interested in joining this shit bruh please teach me.
Man I've been watching your vids you're so informative, but you've just disappointed me with this criticism. I am a full time trader and I ain't training anybody, yet I make a dime through this FX market, secondly lemme do you well pertaining to those who trains people : many of us believes in expanding, on having multiple income streams so that is why they have training programs where people pays.
In one of your vids here on CZcams you were bad-mouthing Vusi Thembekwayo..agh man stop it!!!
You've got a lot that you can share with us, but not all of these humiliations. Promulgate yourself positively not by stepping on top of other people's heards...take my advise if you wanna make it in here for a long time...
Sho Siyathokoza. Thank you for the feedback.
I was only sharing my experience and knowledge. If forex trading is working for you, please don't stop.
Some of the greatest billionaires have lost out on other billion-dollar ideas because they thought they couldn't work... we can never be right all the time.
if you are making a 'dime' why get disappointed ? If you truly believed in forex you would be indifferent despite what King Penuel has to say.
You sound emotional, the guy was giving his opinion and experience. It will be nice to hear your own opinions so we can learn too.
You are so emotional because you are telling a lie?
forex is not for everyone
It's really not. It has its people.
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Really important and educational video here.
I agree but I think it differs in the style of trading you use, usually people who aim at making money with a short span of time loose quite a lot yet if you look and can trade the monthly market conditions the trends is predictable. Also I'll add that it's hard to win in the game of trading mostly because we get introduced to it wrongly.
Mhmmmm I hear you chief however even in your business you donât have full control...Your business is dependent on Clients. However I like your videos.
I like the phrase â To me Forex is gamblingâ
Lot We wonât fucking eat the Black Pan .
He said that is his own opinion.
good video
Thank you.
Most of them I know personally they lie.
Any business takes had work and time. Forex trading is no different.
I agree with you. Forex takes a lot of time and work. But unfortunately, your control over how the market reacts is zero and that's what's upsetting about it.
@@godpenuel In life we can't have control of everything. But we can prepare and minimize the damage of what we do not have control of. Forex is a game of probability and losses are the cost of doing business, in actual fact losses are a cost in any business. All I can say is that the risk of losing money can be minimized and forex will not be a game of high stack pocker.
It is gambling but if you have an edge (profitable strategy) you become the casino
Nothing wrong with forex trading. It's a numbers game with probabilities. How a person makes money off seminars and how the pros really make money is simply by knowing what the masses don't know, there's no gambling about it
Just like any business. It takes a trading plan, same as buying an Apple or Nikey stock, you don't simply get into the market without reason. You have basic knowledge of what Is most likely to happen, with this being said. Knowing something the masses don't know is key, (human emotion) people are impulsive, once you know how to use this to your advantage, not to manipulate but in forex, it's a fair game, available to everyone but only the smartest few will learn to transfer wealth from the masses greed, lack of knowledge and experience
"It's a numbers game with probabilities" That's gambling already. However you can be good at it that's great.
Lol forex it's gambling when you treat it like gambling it's business when you treat it like one investment when you treat it like investment you don't know what you talking about
I'm happy to read your adverse opinion.
If you're making money from forex, please don't stop. I was merely sharing my opinion and experience.
Forex is not an investment .It is a gambling business .There is no value analysis when putting order.you just do technical analysis or fundamental and hope the trade goes into profit.
How many people tht gonner believe in you while you look lyk this bru
How am I supposed to look?
đ€Łđ€Łđ€Łđ€ŁYou are hilarious
Go and research again...poor knowledge and lack of patience on learning
I'm not surprised by such comments.
How long have you been trading for and what's your monthly ROI?
It is betting.
He is bleeding hard... hahahaha.. it took your money bro? hahahaha...
forex is not a gamble, You probably gambled with no knowledge of what you doing then lost money and now think there is no way people make money from it. Shame
đ€đ€đ€đ€What???
đđđđđ I wouldn't compare Forex trading to đ horse betting or sports betting. Learn till you are good enough to earn. đđđđ
And loose your hard earned money until you woke up after couple of years broke as hell.
Domkop đ€đżđ€đŸđ€đ»
The sound he made at 0:07 you can tell he gambled and lost money
Forex isnât gambling brođ
đđđ I definitely lost money but yes, Forex is gambling.
Wehhhhhhh!!!U are exposing little knowledge u have about forex
Please feel free to note why you disagree.
problem you are too over "educated " ,,,, this man..lol
Just another failed forex trader ..... You had the wrong strategy bro
There are a lot of us failed forex traders sadly.
If it's working for you, don't stop.
This video is one, if not the worst vid you have ever made. Im sure if you look back at it after so many years ,you would kick yourself. But them again, you are also entitled to your option right?
I think forex burnt you bro lolz
Luckily it didn't. I'm quite a prudent trader... I'm not a fan of gambling.
U buya likoto
Mxm man you just another feeble mouth talker who is darkened and lost get knowledge and be opened.
I think you should make another video about your Misconceptions about Forex trading
Drop us knowledge about Forex.
What it is not how it works.
SAB sharesđđđđ