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Getting Real​

forex business getting real

​To ​​run a successful Forex ​business, you'll need to have a ​​realistic ​understanding ​of what it is, and what it isn't.

​There are many misconceptions about ​Forex trading being perpetuated ​online, ​and it's important that​ we clarify ​some of the most crucial ones​​ before we continue.

​This will set your expectations in the right place, and help you avoid ​​​unproductive behaviors ​​​down the road.

​Truth #1: Forex ​trading is not a ​job

​With a job, you ​show up on time, ​put in the hours​, and get paid ​at the end of ​each month.​

​Running a Forex​ business ​​is nothing like this - it's not a job.​ You are not a worker.

You​'re an entrepreneur, and ​entrepreneurs don't ​get paid regularly (if at all) ​while​​ ​building ​​a business.

The payoff for ​running a successful ​Forex business is large, but ​it only comes ​a few years ​​later.

In the meantime, ​you won't be making much money at all.

​So don't get into ​this business ​expecting it​ to ​provide​ a livable wage within 12 months of starting out.

​Building a ​valuable Forex business takes time, and ​you should only be attempting it if you're not ​under pressure to make money ​right away.

​Truth #2: You won't be making 1% a day

A common goal among inexperienced traders is to achieve a return of 1% per day.

At first glance, this might seem like a reasonable target... ​but ​the truth is that ​t​hose who aim for ​this target don't understand what it means.

You see, ​1% a day on ​​$10,000​ = $1.98 trillion in just 8 years.

That's 18 times the total wealth of Bill Gates.

It's simply not a realistic​ goal.

​A more reasonable ​target is an​ average return of 2 - 4% per month, ​​which brings me to ​my next point...

​Truth #​3: It takes money to make money​

​Even with a $10,000 account, you won't be making more than a few hundred dollars per month on average ​(if you're doing things properly)​.

This means that unless you can afford a $100,000 ​account​, the only two ways ​to​ make decent money in ​this business is to (1) ​take on investors ​or to (2) ​offer a trading service.

​We'll talk more about ​these two paths in the next ​section.

Right now, you might be ​apprehensive about ​involving ​others in your trading. That's ​understandable.

​But the blunt ​truth ​is that if you want to ​make any ​decent amount of ​money, you can't do it ​on your own - ​you'll need investors and/or customers. Preferably both.

That's why​ this is called a Forex trading business.

​When you combine:

  1. ​The financial ​leverage ​provided by brokers, ​
  2. The capital​ leverage offered by investors, ​and
  3. ​The ​income support ​earned from​ customers,

​​... ​you get a rapidly growing ​trading ​operation​, and a ​rapidly growing income.

​Truth #​4: ​Building a business takes ​time

No ​solid business ​is built overnight.

​Research and ​development takes time. ​Cultivating investor/customer relationships takes time. ​Compounding capital ​takes time.

​Before you can ​make ​a decent income, you'll ​have to ​invest at least 2 years ​into setting up and ​building momentum.

Thankfully, this is not a labor-intensive business so it's something you can do part-time on the side.

It won't be ​easy, but it's ​certainty ​easier ​than ​almost any other type of business out there. In terms of effort-to-reward, ​you'll rarely find any other business that's ​more worthwhile.

​Now if you're ready, ​let's move on to the next page where I'll ​explain ​how ​a real Forex ​business works.

Continue to the next page

​Forex Trading as a Business: The Business​ ​Model

About the Author

​My name is Chris Lee and​ ​I've been a retail Forex ​trader​ ​since 2005​. I've gone through many successes and failures, including ​managing a 7-figure ​investor account (which was ​great), ​and ​losing​ a ​6-figure personal account (which was not great).

You can check out my ​latest performance results ​here​.