Kenyan forex trader Sammy Boy Kenya has revealed how he makes money from forex.
Speaking in an interview with Obinna TV, SammyBoy said that one cannot entirely depend on forex alone to thrive, as they’d need to have other sources of income to sustain their forex trading.
“This is how I make money from Forex; you can’t depend on Forex peke yake to make money. That’s one thing that most people really don’t know.
As an entrepreneur who wants to venture into forex, you’d need to consider three things: you have to have a main income, a side income, and now you have to have forex as a booster.” Sammy Boy explained.
The young entrepreneur goes on to reveal the reason why many people see forex as a scam, saying it is because they entirely depend on it without having any other backup.
“The reason why anyone who is starting forex today will fail to call forex a scam is because they do not have a back up…Forex is real, but whenever you go inside, you need to understand that you are dealing with people who also want to take money from you.” Sammy Boy explained.
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How to identify a legit Forex trade
He emphasized the need for new forex traders to make sure that they go to the original platform when being introduced to forex for the first time because they are scamming others.
“If you want to know the legit way to trade in forex, ni mtu akikupea platform, go do your own research because either way we learn from people, hata shule tumeenda tukafunzwa, theres no way you can say forex is not legit and you haven’t taken any risk.
The first risk will determine, if you understand it, the failures and experiences that you make in the market that will make you a trader.” Sammy Boy explained.
Apart from trading, Sammy Boy also makes his money from selling trading robots, which are now referred to as artificial intelligence.