Which is the best way to become a millionaire on the stock/forex markets; speculating or investing?
William M asked:
Susan
Susan
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3 Responses to Which is the best way to become a millionaire on the stock/forex markets; speculating or investing?
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Forex Trading Recommendations
Brownie
‘best’ is what works. ‘best’ is also defined by how long you’re willing to work towards your goal. ‘best’ is also defined by how much risk you’re willing to take.
If you’re in a hurry and are prepared to take on significant risks, speculating would be the way to go. If you want to take your time and not take on too big a risk, investing would be more fitting to your profile.
Also, take external influences into account, like what central bank decisions can mean for your strategy. Curious about that specific topic? Check out
David
Investing requires thoughtful study and the use of analytical techniques proven to enable one to track corporate progress. The uninformed tend to view stock investments as speculative but the stock investor will usually call currency markets a potential win-or-lose-it-all proposition.
You wouldn’t believe the long hours an investor puts into his/her work. Credibility is on the line at all times for retail investors rely upon us for secure, meaningful information before making their investments in our recommendations.
Investments rarely lose all money invested in a day or a week. This isn’t the case alternatively in the case of currency trading. A successful investor must be vitally aware of and able to summon up balance sheet stats on each portfolio investment. Working at this is a full time job and then some, it’s not just calling the broker and placing your order. Still, it’s the greatest woork in the world for me and anyone who happens to enjoy geopolitical drama and has a penchant for detail.
Some might argue that this isn’t about safety but only about making $1 million. When luck is the premise, anything can happen. But you also ask about which is “the best way” and I’ll have to vote for investing as it can eventually lead towards big earnings. I’ve won some major gains, also have lost my share. But I know from experience a diligent investor with basic skills and lots of hard work can do it.
Len
Karla
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