How Forex Traders Make Money – A Total Beginner’s Guide to the Basics

When the pandemic started, many of my friends started learning new trades in order to make extra money on the side. One of the most common terms I heard from them was “forex”. I had no idea what forex was but I listened to their conversations and picked up that it involved trading currencies in a global marketplace.

It sounded pretty intimidating, though, and even when they tried explaining it to me, I didn’t understand a thing. Add to that the fact that a few months later, there was a horror story in our group about someone losing hundreds of thousands of pesos overnight and I didn’t give it another thought.

But then I lost my biggest-paying job a few months ago and a friend brought up forex trading once again. She had mentioned that she attended a physical workshop back in the day led by Coach Ferdie Pabalan and said that she had an easy time picking things up because of his teaching style.

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After doing my own research, I then learned that Coach Ferdie had moved his workshops online and that they offer free webinars several times a week for people to join. Since there really wasn’t anything to lose but a few hours of my time, I decided to join the free Born2Win webinar and see if it was something I might find useful.

To my surprise, forex trading no longer seemed as scary, complicated, or intimidating as I had initially thought. Coach Ferdie explained everything in layman’s terms, made things super easy to understand, gave tips on how to get started, made sure we knew how to handle our money so that we don’t risk losing too much of it, and even answered all of the questions I had before I could even ask them.

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Here are some of the things that I learned:

What is Forex Trading?

Forex Trading is an online business that deals with buying and selling of different currencies. It is the biggest and most liquid industry in the world.

Who is Trading Forex?

The biggest players are the banks and other financial institutions. International corporations and currency investors also play a big part. Throughout the years, private individuals aka retail traders have grown into massive numbers, too. Truth be told, anyone can be an investor, but you need to keep in mind that there is no guarantee. Because of this, you need to learn and understand how everything works before jumping in.

How Do Traders Make Money in the Forex Market?

The mechanics are quite simple. Exchange rates can go up and down every second. When exchange rates go up, traders can make money through buying. When exchange rates go down, traders can make money through selling. It is very important to note that forex trading is NOT a get-rich-quick scheme, though. It’s progressive and requires discipline. It can also be very risky if you don’t follow the rules. Most importantly, you should never let other people trade your money. Get educated and get trained yourself.

How to Get Started

If you want to check out Born2Win’s free webinar and see if it is something you might want to learn more about and jump into yourself, you may register here:

Dec 14, Tuesday, 6PM to 9PM

Dec 19, Sunday, 6PM to 9PM

Dec 21, Tuesday, 6PM to 9PM

It is completely FREE for the first 500 attendees, so make sure to register early! The free webinar is a convenient way to gauge whether forex trading is really something you would want to jump into and whether it is something you can actually grasp and understand before you invest and commit to the world of forex trading.

Now that things have loosened a little in the Philippines during the pandemic, the best news is that they now have upcoming free live workshops in BGC and Tagaytay for those who prefer to learn in person. For more details and to register for the free live workshops, check out the following links:

Dec 12, Sunday, Grand Hyatt Hotel, BGC, 12NN to 3PM

Dec 16, Thursday, Twin Lakes Hotel, Tagaytay, 6PM to 9PM