Currency trading can no longer be viewed as only for money center banks, multinational corporations and hedge funds, as average citizens in Dominica are joining the regional and international community in gaining “financial freedom.”
Online traders with a desire for high-risk speculation have embraced the vast and volatile Forex Market, as the global foreign exchange market is called.
Promising an irresistible combination of wealth and independence, this is the lure of financial trading for profit and with so many out there, Forex Market is said to be one of those “Holy Grails” of job opportunities. With $6 Trillion USD trade by day, it is not hard to see why so many see it as their opportunity to be rich.
Accelerating their journey in becoming successful traders, a team made up of four Dominicans– Platinum Leaders Cassandra Giraudel and Alice James and Digital Investors Deinia Bruno and Jewelé Browne– have formed L’Argent Traders, emerging from a network of traders throughout the Caribbean which, they say, offers a pathway to financial independence.
Just one month after becoming a trader, Rosalyn Frederick, an educator for 11 years, shared her success story. Frederick said she joined the market because she was convinced that she had found the opportunity to grow her wealth.
“I have been a teacher for 11 years and teacher’s salary, that is all I have to say, teacher’s salary…my deduction from my salary has been higher than my net pay for the past 5 to 6 years and I just figured that something had to be done,” she stated. “We all dream about the life that we want to live and it doesn’t have to be a rich life but we all want to live comfortably and we don’t want to be sitting every day and have to be counting up the days for month-end and even when you get that salary, half of it is already gone.”
Frederick tempered her encouragement of those interested in the possibilities of Forex with some caution about the challenges and pitfalls.
“My main problem was discipline. So that is something if you are getting into it you have to think of long term and not just short term as you cannot get rich overnight,” she advised.
“Many traders have given up due to frustration over not being able to keep up with the market, coupled with the “sure and easy money” attitude of most advertisers nowadays. It has led many to believe Forex to be a scam, but the truth is that profit equals work,” Co-founder of L’Argent Traders, Alice James remarked.
She pointed out, however, that individuals are personally liable for all their losses, just as they are entitled to all the profits and dispelled the notion that the market is a pyramid scheme.
“With a pyramid scheme, only a few benefit and you must bring in people to get paid but in this situation, referrals are optional. The foreign currency market is simply the market where the value of each currency goes up or down and can be bought or sold to make a profit,” she explained. “Banks and investors from all over the world trade. As long as money exists, the foreign currency market will also exist. It is risky to invest in but learning how to trade with consistency and effort can work out in your favor.”
To follow the fundamentals of the market, the group uses IM Academy which teaches traders how to take full advantage of foreign exchange.
“You will learn how to understand currency movements, the different types of chart analysis, how foreign markets operate, and the best strategies to enter into trades in the Forex market through veteran traders,” James stated.
She said while the market is easy to access, the dynamics of the markets and trading can be quite complex and strongly recommended that those who are interested should become familiar with the basics of trading.
What platform do you guys teach to trade on
This is a great opportunity for us in DA. Our economy does not present us with much opportunities to make serious money. Forex is about discipline more than anything, you have to have discipline and you wont make money over night. Take time to learn this and invest small amounts until you know what you are doing. If you are patient, disciplined and commited, you can become very wealthy through forex.
Dominicans, it seems we are programmed to keep ourselves poor, shutting down any opportunity we get to progress, these comments say a lot about us.
These comments are really Hillarious. Yes, I agree Forex is difficult and is not something you can predict, but I must say that my wife introduced me to this forex thing, and yes I truly thought it was a scam. After some time passed and she was invested in it so I joined. My first month was a disaster I lost a few hundred USD, the second month was a little less loss but the third Month I made my losses back in a few days. Don’t knock it until you try it. A lot of people don’t dedicate the time to learn the stuff, who’s fault is that. It Is another avenue for extra money, forex trading is not for everybody but you never know until you try.
Did you say each? Okay Mr I doh have patience. Do you know why it took God six days to create the universe? garcon, “pacience: -dat is not a wrong spelling, it is my version of patois- Dominican emphasis….. so Mr. Tall Monster with a big head, pacience alas………. Tall monster alas………. we
Dominican women are not just for the pleasure of Dominican men, especially men in high offices who ask them to “do things” to get an opportunity to move forward in life so they can independently feed their children. Child support payments are so low in the darn country (this why I applaud these sisters) but this is symptomatic of the economic situation generated by a government with one developmental idea: Enrichen themselves.
Do you know how many children in Dominica go to school without breakfast? And fools like you are attacking a group of women who try to make a difference in the lives of their families?
BOY. Move back to your castle in England.
There is a saying in Creole, but I will use the Queens language.
“Cat fell in hot water, it don’t trust cold water.”
I invested in “Dominica Unit Trust Fund.” It went under.
British American Life Insurance.
Again it went under.
CLICO International Life Insurance Limited. And the last update I received from CLICO, was May 18,2009, stating. Fund Accumulated: $43,530.39
Today August 27.2020, I am yet to receive one cent.
All that glitters is not gold.
I know nothing of what these ladies are trying to accomplish, but I congratulate them for at least trying something different.
Forex is not a scam and you can become successful with the right mentorship and determination. I have consistently made profits in forex for the past few years, although I did suffer losses(which I have since recovered) in the first few years.
The 3 major factors that led to my continued success in trading have been: 1) understanding and controlling the psychology behind it, 2) proper risk/money management, 3) choosing the right regulated (preferably UK) broker that complements my trading style.
The system and skill I use for my entries and exits are all secondary compared to the above.
The high percent of failure is because everybody is following the fake guru’s who dont drill into your head the importance of points 1 and 2.
@Scalper. Thank you. I also want to thank DNO for publishing this article about these young women’s effort. And for also saving my text when the page is refreshed.
That is good advice to help fellow Dominicans gain financial freedom and remove themselves from the dependence syndrome created by the Red Clinic.
I totally agree that there are pumpers and dumpers across the market. One just had to follow:
Pumpers: People who buy a lot of shares to make believe things are going well with a stock
Dumpers: These same pumpers, when they see a profit because unsuspecting investors follow the trend, suddenly sell and you the innocent unsuspecting participant have lost.
We are taught education in school, we are even taught economics, accounting, and finance, but hardly anyone teaches us about money. The only lesson we get is when it is too late: Study an academic discipline that may not help us to produce a profitable outcome, and surely, we are left saddled with debt.
Why does a forex trader need ro be registered with fsu…..you alll need to go and educate yourselves before you just open your mouths and speak of it isnt for u stay out….these ladies never asked you all to trade lr asked u all to come on…typical dominicans….get educated b4 opwning ur mouths
This “De Observer” person in here steadily responding must be one of the young ladies from the above article. 🤣 Calm down. You can’t hunt every comment disagreeing with your venture.
Anyway, one, something of this nature would not survive here because that would require Dominicans to understand that whatever you put up, you must be “willing” to lose. Look at the circles.
Two, allu doh find the current climate in Dca a lil too rough to be asking people to invest in stuff they may never see returns on? We good too wi in Dynamic Dominica. Good luck!
@The Great Houdini. Do not take chances:
It is not about disagreeing with me. That does not change anything. It is about seeing something about which our people can do the research to gain some financial information and maybe freedom. Too many imposed bad decisions are made by our people all because they do not have it together due to the economic situation in the country.
I have lived all my life trying to give people hope, and my fervency in here is no different. If you understand what it feels like to go from not having much to financial independence, you will understand it is not about responses because that is unimportant to me. And if there is an opportunity in this thing, then people should explore it. They should do the research, and not follow the negativity that keep people from trying. That is the main problem in our country. Too many attacks, too much politics, and at the end of day, no cents in the account, only nonsense. “We good too wi” Alas – Hosea 4:6.
The ladies who are pitching those classes did say it is high risk. People get burned when they sell themselves on the riches and downplay the part about the risk.
Any time you dabble in speculative ventures such as forex you had better be prepared to take one on the chin. If it was that easy everybody would quit their jobs and sit home and trade all day. Even the seasoned professionals lose their shirts sometimes.
If one is serious about investing, I suggest buying index funds such as: 25% S&P 500, 25% DJIA, 10% NASDAQ, 10% European Index, 10% Emerging Markets, 10% Bond Fund, 10% REIT. Then you sit back, relax and let your money grow. Even if the markets go down, they will eventually come back up.
If you have a few extra dollars lying around and you want to have some fun, do some day trading knowing that if you lose it, it will not be the end of the world.
We trade indices too zandoli
We trade indices as well including Dow Jones(us30)
People like you who actually know the market should be the ones giving instructions. The thing is these ladies joined a scheme from someone who may not even be a trader and they now have to recruit. As you said, if you have loose change lying around……
“the market should be the ones giving instructions.”
The volatility of the market within certain elements and structures (just trying to look smart to confuse you) cannot give instructions my friend. One has to study different markets and trends; it is a long process, which is why I applaud these young sisters for their efforts. However I am pleased that you learning from my criticisms and wanna look smart by saying something about a field in which your knowledge seems to be limited. But no worries, you will get there sooner than later.
Well let me see the Lamborghini and yacht first nuh before offering to teach me how to trade or offering to trade my money for me.
The platform is what that teaches you how to trade and your success should not be based on someone else’s results.
FOREX is real but just like the stock market, there is a learning curve before one starts making good decisions. It’s good to have experienced people teach you and you can always research and find mentors online like via youtube videos, blogs etc. The mistake is going into something like this and thinking, you are going to make quick bucks. You wouldn’t set your mind to acquire a masters by saying, “I’m going to ace this easy and I don’t need to study or do research.” Be careful to those interested and always think from calmness and logic after you sit down and analyze because these people will make your emotions rise with the hype.
Hahaha what a joke. Advertising a MLM (Multi Level Marketing scheme) to the average Dominican who probably failed Math. If one is really interested in trading in the Foreign Exchange Market they can do so without paying the exorbitant monthly fees that IM Academy charges. BTW 90% of people who trade in the market lose… might want to consider this before investing your money hoping to strike big.
Here we go again……..In this recession all kinds will come along to eat your money and promise you wealth. Even the ones with no experience in the market will want to convince you to give up your hard earned cash. Be vigilant people.
There you go again. Just being brainless like the ten foot acronym (Frankenstein) you have chosen to representation you. So no reading to understand, but instead to hyperventilate.
Reading Lessons:
“Online traders with a desire for high-risk speculation ……volatile Forex Market, as the global foreign exchange market is called. “Holy Grails” of job opportunities.”
“Frederick tempered her encouragement …………with some caution about the challenges and pitfalls.” This is not an invitation, it is asking to approach with caution. Did you see that?
“High-risk; volatile.” The first thing I, google Forex Market, and IM Academy to gain some insights, did you? There was no invitation to join.
“while the market is easy to access, the dynamics of the markets and trading can be quite complex….” against what you wrote.. read fRANK read.
People attack Labour, yet any thing new is usually shot down just like PPP, I congratulate “these” women for their vision, and…
lol this is such an obvious scam. this is also not news as much as it is an advertisement. poor form from DNO
why is it a scam? this is the equivalent to convincing as many dominicans as possible that they can pay hard earned money to learn how to play basketball professionally and beat the avg NBA player. pretty much everyone will lose the money they risked in the trade on top of the money spent on their lessons. nothing wrong with ‘educating’, but leading people on financially is deplorable.
trading is a highly competitive specialist activity, you’re betting against best in class performers who will happily rip your face off to make 5% a month utilizing trading bots you do not have a chance against. these ‘platinum’ leaders are basically local marketing girls that only care about the commission they will earn from your lesson fees. it takes years of training and in reality is not for the lay person by any stretch of the imagination.
I worked in the City of London for many years trading amongst others all kind of commodities. This is for sure not a child’s game because there is a lot of experience and insider knowledge required. We weren’t paid top dollar for nothing! So whoever tells me they can earn money trading Forex on their laptop at home… To be totally blunt, it’s BS!
I am a little confused. Are you saying that Forex must be traded in a trading house like the ones you worked with. These always involve commissions that is not paid if one uses TD Ameritrade, E*Trade just to name a few trading houses.
What would have been great is since you have that type of knowledge, information, and background, educate your people on how they could make top dollars like you did rather than crying down a few young women who are bring the information to people who do not know.
A D please stop being negative and motivate Dominicans to remove themselves from the dependency on government handouts.
there are indeed technical reasons why forex trading in the caribbean is a non-starter; like internet speed/ latency that gives substantial advantages to high frequency traders based in capital market cities like nyc. stop implying this is suitable for people in general, like a skill you can simply learn like boiling a potato. caribbean people get preyed on constantly by forex (not only forex to be fair) scams of various kinds all the time every year. formula is simple, trick dummies to to think they can do things they cant, let them pay you to ‘learn’ how to risk their money that you (or other professionals) can then take. if you taught them what patterns to trade against even better because then you know what to trade against since that where the noob/ weak hands are.
I won’t take it!!!! weeweee!
You are so angry that your professionalism was challenged in a public forum, as if to say that none of us have had (past participle- happened in the past and is still continuing) such experience. Rushed response, not capitalizing proper nouns, not beginning a sentence with uppercase after a period (full stop). Such a brilliant intellectual who did not expect a question on your scholarly financial abstract, telling us all about your London financial wizardry and escapades, trying to show the rest of us how bright you are, but in truth whose weakness cannot deal with a simple challenge to your accomplishments. The sisters did.
With such a rushed response to my take, unlike your originally well thought of piece, you botched it. Hope you took your blood pressure tablet today bro!!!!!!!.
You even used ad hominem: ” let them pay you to ‘learn’ how to risk their money that you (or other professionals) can then take.
bro. It is not that serious.
de Observer, which one in the picture is you? I’m quite willing to invite you to London and show you around and give you some insider knowledge.
Trading is a skill set that I would encourage anyone to develope. As a born Dominican I never had the opportunity and knowledge of it but now I do, it pays off. 90 percent mindset 10 percent skills, take advantage my people, anyone can trade, you don’t need a college degree. Gain the knowledge, stay discipline, control tour greed, be patient, let the market deliver it.
Please explain how is it a scam and we can converse from there until then yull will remain small minded
The article claims Ms. Rosalyn Frederick has successfully traded in the foreign currency market but does not say the nature of the success. We are told of her net earning position as a teacher but nothing is said about her earnings as a trader. If you are highlighting a success story and seeking to persuade people to join your operations, you have to be concrete about the details of the alleged success story.
@Not A Herd Follower you wrote: “We are told of her net earning position as a teacher but nothing is said about her earnings as a trader.”
That statement of yours above, and sorry DNO because I do not know how to say if any other way: @Not A Herd Follower you statement above IS A BOLD FACE LIE. It is slanderous and scandalous.
Please read below in quotes, what the young lady said.
“I have been a teacher for 11 years and teacher’s salary, that is all I have to say, teacher’s salary…my deduction from my salary has been higher than my net pay for the past 5 to 6 years and I just figured that something had to be done,”
At no time did she say anything about her net earnings as a teacher! Again what you said is a BOLD FACE LIE, and you should apologize to the young lady.
Negativity is contagious, please do not allow it to consume you.
I suspect you are one of the ladies up there. You are all over with your bull, talking crap no wonder each of your post is riddled with dislikes
thou protest too loudly aint nobody taking you seriously. You better go work hard if you think is our hard earn money you going to scam.
@Frank N Stein. My last comment which I posted as a original is intended to respond to you.
How many times did you click thumbs down? Are you telling the world that lies have become your truth. Are you the Kellyanne Conway of Dominica: Alternate truths should be acceptable?
I stand by telling @Not A Herd Follower: you wrote: “We are told of her net earning position as a teacher but nothing is said about her earnings as a trader.” IS A BOLD FACE LIE.
If this is how you choose to live your life, then you can make the choice to head to the fire or not. But I intend to go to Heaven, that is why I try my best to be as truthful and direct as possible.
hello most people can safely guess what the average salary is for a teacher … I think that is what @Not A Herd Means … read to understand not to just respond
Are these people registered with the FSU?
Dominicans don’t need to gamble again. The biggest gamble we took is Skerrit, and we lost.
Ladies, perhaps you can explain to potential Dominican clients what is a margin call, before marketing those quick-rich schemes to drain them of moneys they don’t have.
Congrats on this big move! Continue impacting lives and helping others position themself for financial freedom.Best decision ever. All the best! #breakthroughforDA
One caveat: if you can’t afford to lose it, don’t put your money into it. If you don’t have the stomach for losing money and staying calm, trading of any type is not your thing.
People tend to hype up the gains but keep quiet about the loses.
Now family, that is better advise. Not negative, just asking people to be cautious.
Here you go again
you sweff for our money we. You will bavay doh!
Garcon is on Wall Street I deal with. I would never take money from Dominicans. I try my best to take it from white people, that is why I studied their financial systems to understand how they are currently economically enslaving our people and country just like China is currently. So just move your ten foot representative caricature out the way and let me try to educate my people to financial freedom.
Frankenstein, don’t you see that people with the understand of economic activity understand my advocacy? It is people who are easily fooled and led by people who use the trickle Down Theory who are being negative. Why, Because you know, I am confident that you know, how our people do not like to see fellow Dominicans make progress. With all honesty, I cannot say I believe that you are one of them because of your previous posts….. But you are just not a powerful thinker, why because you’er like a jackoquenda.
Wall Street you deal with? Now I know that you are day dreaming! Furthermore, you have a bit of obnoxious attitude. I don’t think anybody would put up with you. Get rid of that chip on your shoulder first, right now you are barking up the wrong tree. By the way, where did you study economics and banking. In Skerrits school??