Forex Trading for The "Geeky" Entrepreneur

Forex Trading: What Makes Geeks Great Forex Entrepreneurs

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The geek culture has come out of the basement already and they’re into the mainstream now. Some of the most successful people in business today are geeks & nerds, and that trend only continues as the digital age is heading towards new peaks. Geeks are known for their ability to overcome challenges smartly, which makes them successful in any venture they pursue, especially in Forex trading.   

The first thing that comes to mind when you hear the word “Geek” is typically the image of an eccentric social outcast who doesn’t fit in. After all, they’re successful because they’re doing something right. For nerds it’s more than fame – it’s business practices that stem from their passions.  

Be nice to nerds. Chances are you’ll end up working for one

Bill Gates

In fact, what the public envisions as a geeky individual is often a successful entrepreneur in real life. Geeks possess unique qualities and characteristics that make them the ideal candidates to be successful in a business or a trading venture. Here’s an explanation of  Why Do Nerds Become Successful CEOs released by Forbes. After all, geeks are successful because they believe they’re doing something right and they won’t back down until they see success in it. Let’s go over the various reasons why geeks make great Forex entrepreneurs.

What Makes Geeks Great Forex Entrepreneurs

Forex Trading for Geeks

The days of the conventional business model and old-school businessmen are dead. The nerds have taken over.

Entrepreneurship has been associated with high society figures who present themselves as well-educated and trained experts in their field for many years. An MBA with impressive connections, country club status, and a high-end wardrobe was the order of the day for entrepreneurs seeking to start successful businesses. However, the past few decades have shown that it is nerds who rule the world of entrepreneurship. 

There is a quote that says "Nerds and geeks will one day inherit the Earth." I believe that day has already arrived. The list of successful 'nerdy' entrepreneurs is endless. Starting with Larry Page, Mark Zuckerberg, Bill Gates, Jeff Bezos, and Elon Musk reign supreme in their respective fields, the whose combined network is estimated to exceed USD 800 billion. These numbers speak for themselves.

Here are some interesting facts about why the most introverted, scholarly and, yes, even “geeky” members of society often make the most money in the Forex trading business as well as in other financial markets. 

1. Geeks rule the World of Science & Tech.

Since the 1980s, we have seen a remarkable technological revolution, as the way we are living is becoming increasingly decentralized and automated. Many of the concepts that were once deemed nerdy or geeky like Crypto, Blockchain, Virtual reality and Metaverse, now appear to be happening in reality. 

The growth of FinTech has also exceeded expectations and provided a wide range of services including fully digitalized banks, e-wallets, instant transactions, highly secure payments, as well as advanced investment solutions including online trading, personal finance, and financial planning. Forex algorithmic trading also seems to be coming up at a faster pace, offering more scope. 

“Geeks are people who love something so much that all the details matter.”

Marissa Mayer – Former CEO, President and Director, Yahoo! Inc

The advancements in Forex trading technologies reduce the burden of value-added activities such as data retrieval. With the rise of artificial intelligence (AI), machine learning (ML), and natural language processing (NLP), workflows are simplified, allowing for faster and more accurate decision-making in forex trading. 

Read How Fintech Revolutionized the Forex Trading Landscape

As a result of these financial technologies, along with the worldwide adoption of the internet and mobile devices, currency businesses are becoming more accessible, a factor that is attributed to the Forex market being the largest and most liquid financial market. For nerdy entrepreneurs, this can be a great advantage in Forex trading, as they understand the advances in the market, use different strategies that require little monitoring, and create a solid blueprint to supplement their income.

2. Geeks are Go-Getters.

Geek doesn’t sit back and hope for something to come their way. Instead, they strive to get things done. These are the go-getters who always have a clear vision in mind. On top of that, they’re smart as well. There’s always a way for them to accomplish things with the smallest possible effort. 

They know what they want and won’t hesitate to do whatever it takes to get it. Having this willingness to overcome challenges is what makes these geeky individuals successful in any genre they find themselves in, particularly Forex trading.  

Confidence is a Forex trader's most important weapon. 

The fact that Geeky Forex traders are confident does not mean they are willing to invest in any currency pair and blindly hope that the price will move up in their favour. The fact is that they conducted an adequate analysis, followed trends, understand the best ways to get the best results in the current situation, and are confident that the trade will gain momentum. For Forex trading to work, it is necessary to be thorough in analysis and to take risks. Geeks’ tendencies are notorious for this! 

That’s the kind of mentality it takes to remain successful in a volatile market like Forex. It is necessary to take some risks, pay attention to what works and what doesn’t, and modify your strategy as time goes by accordingly.

3. Geeks love to seek adventure.

Forex is certainly one of the world’s largest markets in terms of both volume and transaction amounts, providing ample opportunity to make a considerable amount of money and to do so quickly. Despite that, there is a risk of losing just as much and as fast. As Forex trading is inherently a risky venture, you should be willing to take risks in order to improve your odds of survival in this unforgiving market. 

One of the first steps toward starting a successful forex trading business is to establish clear and concise investment goals. Having no clear strategy in this market will make you lose money and effort and it will eventually fail in the end. Therefore, it is important to identify the purpose of your investment and come up with ways to stand out from the crowd. 

Geeks relish the process of coming up with a new idea or at least formulating known ideas and elements into a winnable plan. 

Geeks possess a visionary outlook and a high level of enthusiasm that makes them well-suited for Forex trading and entrepreneurship endeavours. Their adventurous nature tends to make them willing to try new things that haven’t been done before. Furthermore, geeks are great at coming up with innovative solutions, inventive ideas and new strategies to solve any problem. These are valuable skills in the sphere of Forex trading.

4. Geeks are fast thinkers and work on sharpening their skills.

Becoming a successful Forex entrepreneur takes a certain discipline. One must master how to prioritize tasks and be flexible enough to make quick decisions. Generally, this involves working around the clock for days at a time, relieving yourself of potential distractions and missing out on social events & fun activities.  

People who are social butterflies may not be suited for entrepreneurship if it means they have to sacrifice time with family and friends. Maybe because geeks tend to be naturally oriented toward routine work, and are less likely to get disturbed by that. 

Geeks can spend most of their time conducting research and analysis, which helps them become better traders. Their primary objective is to analyze data and make more accurate predictions about the market in order to make better decisions faster and remain successful.

5. Geeks are Smart Investors.

Despite the fact that the forex trading landscape belongs to everyone, the lucrative returns are only achieved by smart investors. To reap good returns, you need to be a smart investor and invest intelligently. This is why geeks are always telling us to diversify, diversify, and diversify! 

Investors, especially geeky professionals, are information savvy in this technology-driven age. 

Geeks tend to be very picky about investments and are always prepared to compensate themselves when they lose money on some of their holdings. As a result, they imply Investment portfolio diversification to reduce the risk of concentrated losses by dividing the risk across growth and defensive assets. Investment portfolio diversification refers to a strategy of investing in various assets to earn the best possible return while reducing potential risks.

Typical diversified investments made by geeky individuals include gold, forex, stocks, crypto, energies, indices, and other classes. This type of diversification is advantageous because each asset reacts differently to the same economic events. Explore a wide range of asset markets as you open forex account with AximTrade and take advantage of the excellent trading conditions and diversified assets available to you.

6. Geeks are way more realistic. 

Forex traders and investors with geeky mindsets have an edge over greedy traders and investors since they won’t be greedy to invest every penny and risk losing everything, allowing them to make more realistic and calculated decisions. Geek traders are well aware that Forex is not a get-rich-quick scheme, and it takes extensive market knowledge paired with patience to generate maximum returns. 

That doesn’t mean Geeks don’t take risky decisions, just that while they hope for the best, they consider other options in case things go wrong. Besides expecting miracles and favours, they also use Forex hedging and other strategies to ensure the results they desire will be achieved. 

7. Geeks Know When to Walk Away

It’s often the smallest things in life that can make a huge difference. Forex traders should also consider the amount of money they are risking when analyzing their trading strategy. You can have a big impact on your journey to becoming a top Forex trader by making this simple decision, which is risk management. Since Geeks are adept at handling Forex indicators, technical & fundamental analysis tools, and stay on top of economic data, they know just when to walk away far ahead of a typical trader.

Geeks are also prone to walk away and take a break whenever they need to recharge. Moreover, it’s also necessary in order to become a successful Forex trader. After a successful trade, it is natural that you would feel good about yourself. The world of Forex trading may seem to be coming together, and walking away at this time can be tough. 

Many of us are tempted to continue trading after we have won. But in reality, pride and excitement can get you in a heap of trouble and fast. That’s precisely the reason why you ought to walk away and take a good break. Your emotions will be under control by the time you return to your trading desk, and you can approach it with a neutral perspective.

8. Geeks are Captivating Storytellers.

Have you ever listened to a geek tell their story while your full attention is glued to their words? The reason is that geeks are great storytellers who can provide entertainment and education at the same time. Some of the world’s greatest geek leaders are Steve Jobs and Mark Zuckerberg. Both exhibit an inspiring level of imagination and passion during their speeches.  

Being able to communicate and engage your audience is a fundamental skill for an entrepreneur. 

A Forex entrepreneur is not just a trader, but can also be an investor, financial influencer, business partner, a Forex affiliate marketer, and digital marketer. Many modern geeks have discovered the tremendous benefits of partnering with forex brokers and generating profits without having to learn how to trade or trade alone. With highly attractive forex IB and forex affiliate marketing programs, forex brokers are among the most profitable businesses for geeks.

Since geeks possess extraordinary ability to attract clients, as well as being great online reviewers on YouTube, Forums, podcasts and other social media platforms, the Forex IB programs provided by the Forex brokers allow the geeky individuals to access the business without the need for advanced qualifications.

Here’s to the Freaks, Geeks, and Mad Ones!

Forex Trading for Geeks

It is completely acceptable to have pink hair, multiple piercings, and scattered tattoos that read like an autobiography. There is nothing wrong with defying the rules and regulations of a conformist society, one that enslaves most of us into doing less but being “good little soldiers” or “respectable professionals.”

Being a Geek is no longer an insult – it’s a badge of honour!

It is a fact that all of us are geeks to some extent, for different reasons. However, most people don’t capitalize on some of the most obvious, and powerful, paths to turn ideas into game-changing successes. There are two areas you should explore if you hope to convert your nerdy theories into successful forex trading outcomes.

A) Find a Mentor.

Most beginners lose money as they learn the ropes of forex and find it challenging to make consistent profits. When you are about to open a forex account, educating yourself about what you are about to do can give you more confidence. That will help you build a solid understanding of its mechanics, and familiarize yourself with the trading environment and platform. 

While it is great that we can discuss geeky entrepreneurs like Gates, Zuckerberg, and Musk, and hold them all up in the spotlight for us to learn about their achievements. Finding an expert in Forex trading is important if you want to address your mistakes and improve. Mentoring can be obtained through a Forex course equipped with expert knowledge that can be helpful to anyone who wants to learn about the forex market.

You can also make informed trading decisions by opting for a reliable website supplying Forex education that will help you feel comfortable and confident enough to begin putting your knowledge to the test through real trading.   

B) Explore the Possibilities.

Forex trading may look simple, as anyone can start trading currencies after registering for a Forex account. But in reality, it’s not that simple. It is important to understand that there are numerous choices and decisions involved, which will all contribute to how you trade the forex market.

A good way to understand and explore the forex trading landscape is to start with a Demo account. Demo accounts are offered by Forex brokers to beginners so that they can learn and explore the market. It is a free way to learn about the forex market and explore analysis tools, indicators, trade execution orders, and many other features available on the trading platform without spending any money.  

Embrace Your Inner Geek With Copy Trading

If you’re here to learn Forex trading and interested in taking your first steps in the winning reign, it’s a good idea to consider copy trade as an entry point. Copy trading is a popular trading strategy that involves copying a professional trader’s positions either manually or automatically.

Copy Trade comes with a package of benefits that include:

(1) The ability to follow successful Forex traders.

(2) You don’t need to have any prior Forex trading experience.

(3) Follow the expert traders’ strategy to become a better Forex trader.

(4) Helps You Avoid Making Common Mistakes most newbies do.

(5) It is an excellent time-saving tool.

You can use copy trade to learn from successful investors and traders, improve your geeky trading capabilities, reduce time spent on research, and overcome your inexperience. Trading with this technique works best for traders who don’t have the time to stay current with the market or lack the experience to trade profitably on their own. It’s time to embrace your inner geek!

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