Maksim Konstantinov is a trader and a financial markets mentor. He has also founded trading apps and courses to build an ecosystem of financial investors.
Maksim Konstantinov has been a foreign exchange trader since 2012 and is adept at financial services provision, financial audits, business consulting, investment portfolio building, and private investors’ financial management. What pulled him toward a career in trading is his immense interest in discovering statistical patterns and listening to the voice of the global markets. “I just enjoy looking for some small news and things that end up in a good financial and personal outcome. Finance is what I love and not the money that I perceive as a by-product,” mentions Maksim. He shares some of his experiences that all new entrants should keep in mind before investing in foreign exchange markets.
Essentials of investment for new entrants
- Most newbies in the field expect a magical unicorn who can help their money grow exponentially, but this is a mistaken thought. It takes years of market research and high risk-taking aptitude before you can expect to create wealth. So, preparing your mindset is the first step to investing in the forex trade.
- It is imperative to find an experienced mentor who can instill the relevant skills in a newcomer aspiring to grow her money in this highly competitive field. One must invest in learning and development before expecting to receive high monetary returns on investment. Since scammers pretending to be experts have flooded the market, one needs significant research on the mentor’s credibility before incorporating his guidance into trading practices.
- Before investing in forex, it is pertinent to have disposable income. This helps one to continue with everyday expenses with less mental strain. There is no need to invest a significant amount of money in the initial days. One can start with seed money of $100 and consider it a fee to learn about the tides of the market.
- Though there are cases where individuals claim to have made 100% or even 1000% return, those are unrealistic and rare. It is essential to set realistic expectations based on average returns, which generally vary between 7%-11%.
Maksim Konstantinov is a self-made entrepreneur who has expanded his skills to share his knowledge with aspiring investors and help them achieve their dreams through focused research and trend observation.