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As an actual professional trader, I feel I have a responsibility to debunk this commonly thrown around misconception. Proprietary trading is NOT your key to financial freedom. An estimated 90% of retail traders lose their capital. https://twitter.com/oswaldtheson/status/1274263654087753728
Automatic savings, low-cost index/fixed income funds, compound interest, or even starting a business, will serve you much better in achieving financial independence.
The “forex trading” you see being promoted on social media is marketing for retail brokers. The person presenting it to you is earning a commission and the broker is earning a spread (both of them are usually not taking any risk themselves).
The markets is random and unforgiving. You need finance knowledge, statistics skills, principles, discipline, realtime information, experience, and a good amount to luck to consistently win in proprietary trading.
Even then, it is neither a guaranteed nor sustainable way for most people to make money. 10/10 WOULDN’T recommend to the average Joe.
At some point, the social media “forex trader” will ask you for money for a training course, or ask you to use a specific brokerage platform. That is the point of it all.
If you want to build wealth sustainably as an individual, I would recommend @readJerome personal finance blog for tips. It’s the age of information. Knowledge is free. Stay woke.
Also, is it simply not true that, “Banks trade Forex with your investments and make millions of dollars then give you some small coins as interest.” A bank is not a hedge fund.
