How do millionaires make money?
Almost all advertising calls for making money on the Forex market, promoting currency trading on the foreign exchange exchange as the most profitable type of trading.
At the same time, it remains a mystery why most financiers who made a fortune used other assets as objects of trade.
In practice, currency pairs turn out to be the most risky and poorly predictable instrument than other assets from the arsenal of the MetaTrader 4 trading platform.
Moreover, it is not entirely clear why currency pairs are advertised when in MetaTrader 4, in addition to them, you can find several dozen interesting assets.
But, in order not to be unfounded, let’s look at how millionaires and billionaires earn money.
Richard Dennis , or as he was also called the “King of Futures”, as is already clear from his stock nickname, traded futures. He is also known as the creator of the “ Turtles ,” a team of traders made up of beginners, who began to earn money quickly and consistently.
Richard's favorite trading instruments were futures such as wheat and corn, and it was thanks to them that he was able to earn a multimillion-dollar fortune.
Warren Edward Buffett is one of the most famous financiers with a net worth of over $100 billion.
He made a multi-billion dollar fortune by investing in undervalued stocks; it was the securities that brought him huge profits.
John Douglas Arnold - who became one of the youngest billionaires, is the founder of the energy hedge fund and makes money accordingly in energy resources.
Paul Tudor Jones II – has a net worth of $4.5 billion.
He began his career as a stock trader by trading cotton, and then traded in oil, grain, government bonds, and indices. John Paulson - the financier's fortune is estimated at between 6.5 and 8 billion dollars.
Again, the main tools for earning money were stocks, bonds, and gold. There are hundreds of equally impressive examples in history when fortunes were made by trading - futures, metals or securities. And there are much fewer cases of impressive earnings in the foreign exchange market.
Forex provides huge opportunities for making money thanks to large leverage, but it also has equally huge risks if you use this leverage.
Therefore, if you decide to start trading, think carefully about which asset to choose for this purpose, you can easily find all the available options in the specifications of your broker .