⚠️BITCOIN WARNING⚠️ (Dangerous Support Level REACHED!)

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You have to admit it has a nice ring to it when people say “What Do you do for a living” and you reply with “I buy and sell foreign currency”. It has an air of importance and automatically suggests wealth; why not after all the market does boast a massive three trillion dollars traded on it every day. It sounds good that you have the ability to start with very little money and manage to earn in excess of 400 times the amount your original investment.

When I started learning about the Forex market, I was amazed about the concept of leverage. Leverage is technically a loan that is provided by the Forex broker or financial institution that is handling the clients account. This “loan” allows a trader to invest more money than they have in their account, thus either significantly increasing their profits or if the market turns against them, decreasing their profits.

I came across many people who have asked me about Forex trading and perhaps financial trading on the whole. It is not an easy task explaining why trading can be so risky to the retail trader. First and foremost, trading is way riskier then traditional investments like mutual funds (unit trusts), bonds and stocks.

In the normal sense, ‘Trading’ implies purchase and sale of goods at a specified place called the market. For example, shares are sold and bought in a stock market; commodities are bought and sold in a commodity market. Interestingly, for trading in currencies there is no market place at all.

Modern traders make use of Forex brokers. Brokers act as the middleman that does the actual buying and selling of the currency. Usually brokers are large companies, but they may be individuals as well. Brokers usually earn their income by commissions or fees generated by either the volume of currency traded, or from the spread (the difference between the buying and selling price of a currency pair).

There are three categories of Forex trading indicators. Technical indicators are provided by Forex platforms to enable traders make the right judgment in determining the next direction of price action while trading. This decision is crucial if the prospective currency trader is not ready to lose his money. To get a deeper understanding of the category which each Forex technical indicator belong is like doing an advanced research on them in this business. You have to upload each to the trading chart, combine it with other indicators, trade with them and observe how they work then summarize your findings.

As with everything in life, you need a plan. Forex trading is no different; without a clear Forex trading plan, failure in the highly competitive Forex market is almost guaranteed. When you decide to start Forex trading make sure that you ask yourself the following questions: Why am I going to start Forex trading? What am I willing to invest?

A Forex trading robot? Good grief! Sounds a little far-fetched, right? It did for me a few months back when I started in the Forex market. I would never in my wildest dreams believe something was possible.

The Forex market is where dreams are made or broken; it is the place where traders battle against each other by buying and selling currencies with the intention of making a profit. The currency market offers any person the opportunity to make money no matter if you a big corporate or just an ordinary individual like you and me. So why is it better to trade Forex as appose to CFDs, futures, oil, gold, stocks, etc?

Did you or someone you know lose their pants with Enron, Lehman Brothers or GM stock? Are they still foolishly trading U.S. stocks? Still trusting that 401K or your “personal” stock broker? You may want to reconsider and look into the foreign exchange market (Forex, Fx,) also called the currency market. Forex trading hours are flexible and fit all work schedules. Technically you can trade 24/7, however it is best to trade during certain hours when 2 or more major trading markets are open.

One of the most intriguing conundrums for traders is: why does forex have such a high failure rate? This happens despite all precautions which are exercised. The first explanations relate to chance and probability.