In most cases, college students who have little life experience do not have much money in the first place. Therefore, it is said that investment such as FX that reduces money is dangerous. But just because you’re a college student doesn’t mean you can’t invest.
Why college students fail in Forex
There are the following reasons why college students fail in Forex and why they are told to quit.
lots of scammers
In the case of university students, there are many people who get involved in suspicious solicitations such as SNS. Scammers will make you buy information products at a high price or invite you to a dubious investment salon. You should never get your hands on these things, but college students who don’t know much about the world do. Therefore, do not engage in solicitations on SNS or the Internet. FX will be able to win without buying strange products.
huge investment
College students suddenly use their parents’ money to play a large amount of money, and lose all of their money. This is a matter of course, and it is FX that beginners cannot win immediately. Forex requires more than a few years of training. Until then, we have to make small investments. After all, a trader needs skill and experience.
invest in scholarships
Some college students use scholarships to invest. This is very stupid, and scholarships are money that will have to be paid back eventually. Even if you use it for investment, you have an obligation to return it. It’s easy to do because you’re a college student who doesn’t have a strong sense of value for money.
Solutions for Forex Success
First of all, Forex is not gambling. Whether or not it becomes a gamble depends on the person’s skill and experience. So what actions do we need to take to be successful?
small investment
Forex beginners should start with a small amount. Since there is this principle of leverage even from a small amount, it is an investment method that allows you to make a large amount from a small amount. So don’t spend money in the first place until you can win. The trick is to start with a small amount.
take several years
It takes several years of training to become a Forex professional. Therefore, please think that it will take more than 3 years. You should be able to balance this with your studies during this time. FX is a mechanism that you can not win unless you accumulate skills and experience. It is very important to trade steadily without rushing.
don’t look at charts
If you are a beginner in Forex, you will get used to watching charts in real time, but we do not recommend it. Set up automatic payments whenever possible. When you enter, be sure to acquire the habit of setting profit taking points and loss cut points. If you get into the habit of looking at charts in real time, your studies will become neglected. Once you enter, please entrust everything to the market.
be taxed
By the way, if college students do FX, consider taxes and support. In Japan, if your annual income exceeds 480,000 yen, you will be taxed, and you will not be supported by your parents. In addition to FX, if you have income from a part-time job, if it exceeds 1,030,000 yen, it will be taxable. Of course, if you do not declare it, you will be subject to a penalty, so be sure to declare it. If you file a tax return, you can carry forward the loss deduction.
You can open an account with FXGT for free
FXGT not only deals with exchange rates, but also stocks and virtual currencies. It is recommended to open an account because it is free and can be done immediately. Please see the article below for more information.
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