There’s a somewhat recent trend bubbling up in the Forex community that is sending the wrong signals to new and veteran investors alike.
This trend – recruiting people to help you trade – has a lot of people under the impression that the Forex world has become too tough a nut to crack all on your own, and that you need a small army of traders that you’ve recruited to help you beat the market.
Is that true? Is it possible to learn how to trade Forex without recruiting?
The forex markets are traded by institutions and hedge funds around the world and they certainly aren’t interested in recruiting. You don’t have to recruit any traders or do any marketing to earn money in the forex markets. Any program asking you to recruit traders is most likely a pyramid scheme and should be avoided.
How to Trade Forex Without Recruiting?
Right out of the gate, it’s important to understand that it’s not hard to learn how to trade Forex without recruiting – in fact, that spend the “default state” of Forex right up until just a few short years ago.
Sure, recruiting an army of Forex traders to help you make more money can be beneficial. And it can be wildly profitable (if you know what you’re doing and your Forex underlings are operating in sync, too).
But there’s no reason that you can learn how to trade Forex without recruiting and still enjoy a ton of success.
This is, after all, how most people are making money in the Forex markets right now!
Trade “Straight Up”
The easiest way to trade Forex without recruiting anyone at all is to simply trade “straight up”.
This kind of Forex trading is the default standard method almost everyone getting into Forex begins with, and continues to be a viable strategy for a lot of folks well into their more “veteran trader” stages.
As we highlighted a moment ago, there can be real benefit and real leverage to working with other people when you are trying new Forex strategies or looking to gain an edge in the market.
At the same time, there’s absolutely no reason you couldn’t just make your own moves in Forex – without any outside input or other people helping you along – and still make a mountain of money along the way.
There are loads of free resources out there to help traders learn the ropes. I’d recommend Babypips Academy if you’re brand new to forex trading!
Utilize Forex Bots and Copy Trading Strategies
Another approach that a lot of “solo Forex investors” are into right now is leveraging the power of other people, other trading strategies, and technology but not necessarily recruiting them into the mix.
Forex bots essentially automate a lot of the trading tasks and market analysis that investors would have had to do all on their own before.
This can save a ton of time, ton of energy, and guarantee that opportunities aren’t missed just because a Forex investor wasn’t plopped down in front of the screen at that exact moment.
Forex copy trading is another approach that investors are utilizing to leverage the time, energy, and effort of other investors without having to create investment teams or recruit anyone.
The way this works is different Forex investors share their strategies and then let other investors essentially copy them.
This can be done in real time through a variety of different automated systems or alerts, and it makes it a whole lot easier for newbies to get their feet wet by following along with experience traders. You can also setup copiers yourself. Here is a list of the top forex copier platforms.
Although it may seem like you’re taking financial advice, forex copy trading is completely legal at present, making it a viable option for traders.
Is Recruiting Needed to Make Money with Forex?
While you are going to see a lot of people tell you that recruitment is necessary to make real money in Forex, nothing could be further from the truth.
There can be a lot of money in Forex recruitment. That’s fair to say.
But it isn’t anywhere close to mandatory to make money in Forex, not even a little bit.
Most People Make Money in Forex without Recruiting
At the reality is that the overwhelming majority of people that get into Forex investing are interested in Forex investing – not running a recruitment operation, not hiring a team of traders, and not staying on top of all the logistics involved.
When you choose to go down the recruitment path you almost always have to start treating Forex like a business rather than a passive investment opportunity.
Most people just aren’t into turning Forex into that much work.
Recruiting Brings a Bunch of Headaches to the Mix
On top of all that, recruiting obviously brings a whole host of headache and hassle into what can already be a pressure packed and stressful investment opportunity.
Now you have worry about whether or not all your recruited traders are on the same page, whether or not they are implementing trades at the same time, and whether or not they are “freelancing” or really helping you achieve your goals.
It’s a nightmare scenario for a lot of people that just don’t want to worry about management outside of their Forex portfolio.
Is Forex a Marketing Scheme?
Forex itself is 100% NOT a marketing scheme – not even a little bit.
Forex is a Legit Investment Vehicle
The foreign-exchange markets are legitimate markets, and these investment opportunities have been used by millions of people all over the world – including some of the wealthiest people on the planet – to make piles and piles of profit.
Forex is the real deal. There’s no marketing scheme component to the actual Forex markets themselves.
Forex Recruiting Can Be a Pyramid Scheme
Now, Forex recruiting on the other hand can be a completely different animal altogether.
Some of the Forex recruitment programs out there are totally legit and on the up and up. Some programs are really interested in combining the power, strategy, and experience of numerous investors to maximize potential profits and payouts.
Other operations, though, are more interested in selling the pickaxes to the miners than they are mining for gold themselves!
These fly-by-night operations often have a very MLM or pyramid scheme kind of bent to them. There are actually hundreds of these schemes out in the market right now which often leads new traders into thinking, ‘is forex just a pyramid scheme?’. It’s not, but you have to be careful!
Thankfully, they usually aren’t difficult to suss out with just a little bit of research and due diligence.
Avoid them at all costs and you won’t have anything to worry about it all!
In Summary – Do You Have To Recruit To Earn Money In Forex?
In Conclusion, you do not have to recruit any traders to earn money in the forex arena. You can make money by following the lead of other successful traders. Recruiting can be a headache and it’s not something that the majority of people want to get involved with. Forex is a legit investment opportunity, while Forex recruiting can often have pyramid scheme undertones. By avoiding programs that are too recruitment-focused, you can focus on what’s important – your trading.
Do you recruit other traders? Let me know in the comments below…