LebGeeks

Scode99

Member

Re: Learning About Investment And Trading

Hello Guys I've been opening different discussions about different online jobs one can start. Now Im into forex trading, I have been into this adventure some time ago but it didn’t end up well. I'm deciding to give it another go, but not after I do some extra research and by just focusing on one currency pair (EurUsd) since it’s the most powerful and most famous pair. Im want to dive into forex because you are in control of your money unlike Affiliate marketing and drop-shipping where there are ads and and website creation or    Collecting views and traffic and so on. In forex you are in control of your investment. So Im just willing to find some other traders on this forum to help one another exchange strategies, knowledge. On another note, if any trader sees this post, can you talk about the banks? Are they letting the people deposit money to their online trading accounts? Are they being able to withdraw their profits? There needs to be someway someone can make a little profit online in this country. 100$ a month is enough. :)

Johnaudi

Member

Re: Learning About Investment And Trading

On another note, if any trader sees this post, can you talk about the banks? Are they letting the people deposit money to their online trading accounts? Are they being able to withdraw their profits?

If you're new to trading, I highly suggest a volatile market (if you're willing to take the risk). Cryptocurrencies is an easy start, the plus is that you can withdraw them as crypto and exchange them for USD at the Lebanese local market easily. (hence, no need for banks)

Good luck and stay safe :)

Last edited by Johnaudi (April 24 2020)

NuclearVision

Member

Re: Learning About Investment And Trading

where do you suggest we go with our money ? a safe at home ?

Guys this is a genuine question if anyone has an answer.

Seeing that samer predicted the predictable, I'm looking for an answer as well.

samer

Admin

Re: Learning About Investment And Trading

Re-posting this for you Scode99, as it is as valid as it was when I first posted it on May 27th 2019.

First, invest in yourself

• Acquire marketable skills

• Build a side business while you study

• Cultivate meaningful relationships with friends and family

• Move your body, every single day. Sports and work outs. I know you're 20, but your 30 year old self will thank you

• Read widely and frequently. I prefer books because they generally have a better signal to noise ratio

Second, keep it simple

• Put money on the side often

• Invest it in things that tend to preserve their value over time

Third, a word of caution

• Don't buy stuff you don't truly need

• Buy stuff you don't truly need, if they make you and your loved ones happy (just make sure that they do)

• Don't invest in things you don't understand. Just because people around you made money on crypto doesn't mean you will. Same goes for stocks, forex, etc.

• Don't get greedy, lots of people will exploit your greed to sell you snake oil

• Against some of the advice above, don't spend too much time paper trading. Losing $100 in the market will teach you much more about the psychology of trading than simulated trading will in a year.

• Don't stick all your money in a Lebanese bank, no matter the interest rate, it's imprudent at this stage

• Beware of the Lira. It's OK to use it for day to day transactions, but make sure the bulk of your savings is in cash USD (I realize this is getting harder by the day)

PS: Someone mentioned Taleb up there. I would recommend reading Antifragile rather than The Black Swan. Much more insightful (beyond finance) and Taleb is less pompous in his writing.

Nuclearvision, I believe this is the key:

Invest it in things that tend to preserve their value over time

Scode99

Member

Re: Learning About Investment And Trading

where do you suggest we go with our money ? a safe at home ?

Guys this is a genuine question if anyone has an answer.

Seeing that samer predicted the predictable, I'm looking for an answer as well.

Haha Samer predicted everything.
Samer please tell us what to do with our money. Lira is losing its value fast. Thats why alot of post about businesses and investing are reappearing on this forum. :/

samer

Admin

Re: Learning About Investment And Trading

Samer please tell us what to do with our money

Sorry, I am not qualified to do that. I was intentionally broad in the post above because I believe people should do their own research to see what fits their personal situation. I would encourage you to research how people have dealt with hyperinflation in the past. History is filled with examples to learn from.

nefe_lpmk

Member

Re: Learning About Investment And Trading

Samer please tell us what to do with our money

Sorry, I am not qualified to do that. I was intentionally broad in the post above because I believe people should do their own research to see what fits their personal situation. I would encourage you to research how people have dealt with hyperinflation in the past. History is filled with examples to learn from.

Samer, respect for that spot on prediction. Wish I read this thread in May.

xerxes

Member

Re: Learning About Investment And Trading

Is there any trustworthy company in Lebanon where I can trade stocks through?

Geekfreak

Member

Re: Learning About Investment And Trading

Hello just have some questions about this topic.
1.How do you start trading in Lebanon ? how to choose your broker ?
2.Is CFI Trustable as broker in Lebanon?
3.Any good books related to stock market?

samer

Admin

Re: Learning About Investment And Trading

I read that Interactive Brokers accepts customers from Lebanon, so that's probably something you need to look into. Please be careful with trading!