After more than a year of dealing with health issues caused by the coronavirus pandemic, the world’s problems are far from over. Economists all over the world are concerned that the rising inflation rates, falling asset prices, and increasing unemployment will lead to another global recession.
Towards the end of the second half of 2022, the Federal Reserve Bank in the US raised interest rates to one of the biggest hikes in decades, making borrowing a lot more expensive. Businesses responded by cutting back on their expenses, which, unfortunately for some, included laying off employees or else cutting back on wages. This is amid the looming threats of inflation and recession.
Is mass layoff a possibility?
The events that led to current economic and geopolitical challenges have made workers anxious about losing their jobs. More than 24,000 people have been laid off in the tech industry in the past couple of months. The unemployment problem isn’t unique to the tech industry, as thousands of employees in other industries also lost their jobs.
Despite the current challenges, according to SFX Global founder Husam Samy, it’s not all doom and gloom. He believes that while people might lose hours of employment, face pay reductions or lose their job altogether, many opportunities remain untapped for both entrepreneurs and those in the workforce.
Making up for lost income
While no one is safe from the effects of the economic crisis, Samy believes that people can pursue a multiplicity of strategies to make up for a loss of pay, or reduced wages.
His company SFX global teaches every-day people how to profitably trade forex. Though Samy is aware that many traders (e.g large institutions and banks) trade carefully during this period, he believes that having the correct principle and risk management strategy is the key to turning forex trading into a profitable investment.
Samy himself has proven that forex trading can be a sustainable means of income for those who are adequately equipped. Using his own portfolio as an example, Samy was able to grow his investment into a six-digit portfolio by implementing a risk management strategy.
Today SFX Global teaches people from all over the US how to trade forex with careful risk management principles. Samy cautions would-be traders against falling into “gambling”, a situation where a trader makes a million dollars in one trade and loses it in another. He advocates, and teaches, a way to consistently make the same or similar profits with every trade to ensure that forex trading is profitable.
Learning to Trade with SFX Global
While forex trading gurus have proposed many approaches, Samy believes they’re largely ineffective. People who use several strategies without understanding the principles behind the market are pushed into a losing streak.
He has seen this inclination to adopt multiple approaches countless times and reckons that people will end up losing their money a hundred percent of the time.
“People think they must use several approaches when trading in the forex market. Often, these approaches have no substance that losing money is inevitable,” shares Samy. “It also doesn’t make sense to use five or six strategies when you can focus on one high probability strategy you can learn and perfect over time.”
Samy maintains that fine-tuning a risk management strategy and analysis is the best way to make forex trading profitable, which he has seen happen hundreds of times at SFX Global. While he admits that there are bad months, traders he has worked with make an average of 17% in profit using this approach.
Anyone can trade
A common misconception about forex trading is that only experienced traders can truly understand the market and make consistent returns. Samy and his team at SFX Global hope to change this preconceived notion as they’ve worked with hundreds of people across various industries and professions.
While his team teaches a specific risk management strategy, they conduct one-on-one training to ensure an in-depth understanding of the market and price action movements. This approach takes time, but it ensures that even people without strong market backgrounds can trade and repeatedly get returns on their capital.
