Hello,
Firstly I'd like to apologise for the shitty title, that's something that I'm not good at.
I'm a 22 year old from the UK and have noticed that there seems to be an epidemic of young people, around the age of 18-23 that seem to be getting into trading. Many of my friends, and friends of friends, all seem to be getting involved in this. I enjoy finance and have been educated myself through university and doing my own research on how to invest effectively and what not. Over the last 2 or 3 years, I've seen so many people getting into trading. Most people seem to be trading binary options on the forex market. Some I am unaware what they deal with but I'm pretty sure it's still trading currencies.
I've swayed away from joining these as I see random people on social media trying to encourage other random people to join - which to me comes across as almost like a pyramid scheme. But yeah, I'm wondering, like, what's the catch to this? I mean so many people seem to be joining these, and writing things like "Trader" on their social media accounts and what not. My assumption is that they wouldn't be advertising/bragging if they lose money right? So are these things actually profitable? Many people I know who have got into this type of trading are quite smart, at least academically, which makes me question as to whether it's a scam or not. I mean as far as I know, most of these don't really require any prior knowledge of investing. I've studied a lot on investing over the last few years, and quite a bit about different equity trading strategies such as futures, options etc. and I still feel there's so much more to learn before I start investing.
I just want peoples thoughts on this matter. Perhaps my description may not be the best. I don't know if I'm allowed to mention it so apologies if I'm not, but the two most common brokers, if one may call it that, seem to be called "DCT" and "TRADiNC FX". Please let me know if I'm not allowed to mention their names so that I can remove it.
Cheers!
Submitted April 30, 2017 at 11:35PM by Mehek888 http://ift.tt/2qnCgZh
