When it comes to making money for college students, many people will choose part-time jobs. I think that’s an admirable choice, but I think it’s also a good idea to choose to earn money on your own while acquiring knowledge that will be useful in the future. Therefore, overseas Forex is recommended.
This time, I will explain “Can university students do overseas Forex?” We will also explain whether you can succeed and whether there are any benefits to investing, so please refer to it.
Even university students can do overseas Forex
In conclusion, even university students can do overseas Forex. Some people may have a difficult image, but please be assured that overseas Forex has a low barrier to entry among many investments. If you are even a little interested, I recommend that you try it first.
According to the data, more than 60% of people are winning in Forex
Referring to the data issued by the Financial Futures Trading Association, it seems that about 60% of people are making a profit in Forex. Forex is an investment that anyone can do, regardless of age. Even if you are a university student, if you have good knowledge and practice, you will be able to win enough.
There are also traders who have made large profits as college students
In fact, there are three traders who have made “big profits” as college students. The first person started overseas Forex when he was in his third year of university, and in about 9 months, he increased his original 500,000 yen to 10 million yen. While he was a university student, he was making a living with Tuition and Forex.
The second person is a brilliant trader who has made a total profit of hundreds of millions of yen. The third person started Forex when he was in his first year of university, and increased his original 1 million yen to 8 million yen. By the time he was in his fourth year of university, his total profit had exceeded 100 million yen.
Advantages of university students doing overseas Forex
The advantage of overseas FX trading for university students is that they can acquire knowledge about economics and finance. This knowledge is likely to be advantageous for finding employment after graduation and building assets in the future. Here, we will explain in detail the benefits of overseas FX trading for such university students.
Acquire knowledge about economics
The first is “Acquire knowledge about economics”. In order to win in overseas FX, you must collect economic information from news and newspapers. By doing overseas FX, you will learn not only about the domestic economy, but also about overseas economies.
Acquire financial knowledge
The second is “acquire financial knowledge”. It may be difficult to talk about finance, but saving information and the movement of money in the world are also part of finance. You will naturally become better at saving money and become more knowledgeable about deals.
In addition, it is expected that they will be able to assess insurance policies and build assets for the future more smoothly than others. The financial knowledge you acquire will be useful when you want to start a business.
Job hunting becomes advantageous
The third is It will be advantageous for job hunting. This is because you are exposed to a lot of economic and financial information on a daily basis, so you won’t have to worry about things to talk about during interviews. For example, if you are asked, “Please tell me how we can improve our company,” if you are aware of economic and financial trends, you will likely be able to answer smoothly.
It is also likely that you will be able to respond more specifically than other applicants. If you are exposed to economic and financial information, you will also be familiar with current events and political issues, so you will be able to answer questions about those issues fluently.
Become extra income
The fourth thing is “It becomes extra income”. Currently, the lifetime employment system is collapsing. In fact, large-scale restructuring has begun even in famous companies that were once said to be stable. Due to this danger, many working people have recently been trying to increase other sources of income.
However, most people do not know how to create other sources of income. Among them, if you start working on overseas FX while still a university student, you can quickly create other sources of income.
Can grow quickly
The fifth one is “You can grow quickly”. When you become a working adult, you become busy with your day job, so it becomes difficult to find time to do new things. However, if you are a university student, you probably have a certain amount of time. If you use that time to engage in overseas FX, it is expected that you will be able to improve faster than working adults.
If you do well, you can greatly increase your assets.
The sixth is “If you do well, you can greatly increase your assets.” If you work part-time, there is always a ceiling to your income. It will be difficult for university students to earn more than 200,000 yen per month through part-time work unless they prioritize their studies and work a lot. However, overseas FX has no income ceiling. In fact, there are people who earned hundreds of millions of yen while in college. Having dreams is a unique charm of overseas FX.
Major reasons why university students fail in overseas FX
A major reason why university students fail in overseas FX is because they pour their living expenses and scholarship money into investments. There are also characteristics such as increasing losses without cutting losses and trying to recover losses in a short period of time. Here, we will explain the major reasons why university students fail in overseas FX.
Trade using living expenses and scholarships
The first is “Use living expenses and scholarships to make transactions”. Essentially, investing is done with surplus savings. Do not use living expenses or scholarships. This is because overseas FX has the possibility of losing money. If you spend your living expenses and scholarship money without considering the risks, you will be hurt when you fail.
Inflate losses without cutting losses
The second is “inflate losses without cutting losses”. If you want to win in overseas FX, you need to master loss cutting rather than profit taking. This is because people who cannot reduce their losses will find it difficult to turn a profit no matter how much they gain. In fact, there are traders who have lost hundreds of millions of yen because they were unable to cut their losses.
Trying to recover losses in a short period of time
The third is “trying to recover from losses in a short period of time”. Basically, speed and risk are proportional. The more you aim for big profits in a short period of time, the more damage you will suffer if you fail. There are traders who have lost tens of millions of yen due to this, so please be careful.
It is normal to incur losses when trading overseas FX. What matters is what you do after the loss. Don’t try to make up for it in a short period of time, but work hard to recover your losses.
Can’t control emotions
The fourth thing is “I can’t control my emotions”. In order to win in overseas FX, you need three things: money management, strategy, and a strong mentality. Please be careful as if any one of them is missing, you may incur a big loss.
It is said that the number one reason why overseas FX beginners lose their assets is that they cannot control their emotions. Always walk away from a transaction when you are frustrated.
Precautions for College Students Engaging in Overseas Forex Trading
When university students engage in overseas FX, be careful not to forget about your main job. Please be conscious of not going into debt or limiting your options. Here, we will explain the points to note when such university students engage in overseas FX trading.
Don’t forget your Main Job
The first is “Don’t forget your main job”. A university student’s main job is studying. It’s not FX. Focus on your core business as your first priority. The best way is to use that free time to engage in overseas FX.
If you neglect your main business and focus on overseas FX, you will not be able to recover when FX doesn’t go well. Please put a lot of effort into studying, even if it means getting insurance.
Don’t borrow money for overseas FX
The second is “Do not borrow money for overseas FX”. Not limited to overseas FX, it is more advantageous to invest with more funds. Some people say, “It’s better to take the risk and borrow money first,” but this is a very dangerous practice, so be careful. Even if you really borrow money and fail, that person won’t help you.
Invest a small amount at first. That way, even if you fail, your losses will be kept to a minimum.
Don’t limit your options
The third thing is “Don’t limit your options”. Some people end up doing only one thing when they do overseas FX, but that narrows down their future options. If you are a university student, there are many things that you can only do while you are a university student.
For example, it may be a good idea to participate in internships at various companies or experience various part-time jobs. I think it’s good to hang out with friends or hitchhike so much that you lose track of time.
Don’t raise your standard of living too much
The fourth thing is “Don’t raise your standard of living too much”. Overseas FX has a sky-high income, so when things go well, you can make a surprising amount of money. If you suddenly have a lot of money, you may want to buy expensive things or live in a place with high rent, but please refrain from doing so. This is because overseas FX is an unstable job.
Since they are different from office workers, there is no guarantee that their income will continue forever. Don’t raise your standard of living until you can completely afford it.
Acquire knowledge about tax returns
The fifth is “Acquire knowledge about final tax returns.” When trading overseas FX, you will need to file a tax return when you make a profit. Please note that if you do not do this, it will be treated as tax evasion. In fact, there are people who have been charged with failing to declare their profits from Forex trading. It’s easy to do now, so use your free time to quickly file your tax return.
What you need to be aware of to win in overseas FX
If a university student wants to win in overseas FX, first of all, do not be too focused on winning. It is also important to analyze successful traders. Here we will explain each in detail.
Don’t be too fixated on winning
The first is “Don’t be too focused on winning.” If you are too focused on winning, you will end up chasing only technique. However, the world of FX is not so easy that you can win with technique alone.
If you don’t have a lot of knowledge and experience, you may not be able to win. I think it’s easier to do well in the end if you don’t try to win right away and approach the game with a relaxed mindset, thinking, “I just need to be able to win in a year.”
Analyze successful traders
The second is “Analyzing successful traders”. It’s the same with anything, whether it’s sports or cooking, in order to improve, you need to imitate those who are good at it. This is because successful people have the secret to success.
Many people dislike imitation and try to be original, but please be careful as this increases the chance of failure. Find a successful trader and analyze if there is anything you can emulate.
Summary
This time, we explained whether university students can do overseas FX, and what are the benefits of doing overseas FX. Even college students can do overseas FX. In fact, there are people who started trading while still in college and earned profits ranging from tens of millions to hundreds of millions of yen.
By doing overseas FX, you will be able to learn economic and financial information about countries around the world, which is advantageous for job hunting. If you are interested in overseas FX, why not try it out?