Forex Trading – Why trade Forex?
This is a question that has been asked to me by so many people that I lost count over the years. Living in South Africa, I am sure we were the last people to see and realize the potential of online currency trading, or FOREX.
The first that I heard about forex was when I was 19 years old and my father was the one that was contacted by a friend who wanted to interest him in trading. Well my father has the computer technical skills of a tortoise, and though he can install and uninstall windows, about the internet and everything else he knows nothing. So, my father said that I should be the one that goes on the course and that is when my blood went through the roof. Not because of anger but of excitement.
My first trading course cost me all of R15000.00 (roughly $5000.00 at that time) and although I had everything in place to start trading I did not have the start-up capital.
So I disappeared from the forex trading scene for about 5 years, and then my one friend, who also went on the course and couldn’t start either because of capital problems, told me that some brokers are now offering mini trading accounts where you can start from as little as $300.00. This was great news but now I live in my own apartment and unfortunately the capital is still short. Why, because it is a rule, “NEVER TRADE WITH MONEY YOU CANNOT AFFORD TO LOSE!!!” Thus I am still on my demo and steadily building up revenue and savings to get in. It has been three years since my friend gave me the news and I am still accruing the funds to start, but this does not mean that as soon as I start that things will go south. I have been practicing my behind of and I have come upon some strategies and techniques that I found are SIMPLE and EFFECTIVE.
With the history lesson behind us, back to the question, Why trade forex? Well, it is simple if you look at the facts. It is a very volatile market trading everyday in excess of several TRILLION. You can also make my in both directions, thus making it recession proofJ. It is also a predominantly a trending market meaning that with a solid strategy and unemotional trading psychology , any person with the aforementioned will have a good chance of taking consistent profit from this market.
After that short paragraph, I asked myself “Why can’t I have a piece of that pie? I don’t want a million, just enough to get home and by my fiancée a nice gift then and again.”
That is then where I started, and that is exactly why one should at least demo trade the forex market.
Trade Well, Live Prosper.
The first that I heard about forex was when I was 19 years old and my father was the one that was contacted by a friend who wanted to interest him in trading. Well my father has the computer technical skills of a tortoise, and though he can install and uninstall windows, about the internet and everything else he knows nothing. So, my father said that I should be the one that goes on the course and that is when my blood went through the roof. Not because of anger but of excitement.
My first trading course cost me all of R15000.00 (roughly $5000.00 at that time) and although I had everything in place to start trading I did not have the start-up capital.
So I disappeared from the forex trading scene for about 5 years, and then my one friend, who also went on the course and couldn’t start either because of capital problems, told me that some brokers are now offering mini trading accounts where you can start from as little as $300.00. This was great news but now I live in my own apartment and unfortunately the capital is still short. Why, because it is a rule, “NEVER TRADE WITH MONEY YOU CANNOT AFFORD TO LOSE!!!” Thus I am still on my demo and steadily building up revenue and savings to get in. It has been three years since my friend gave me the news and I am still accruing the funds to start, but this does not mean that as soon as I start that things will go south. I have been practicing my behind of and I have come upon some strategies and techniques that I found are SIMPLE and EFFECTIVE.
With the history lesson behind us, back to the question, Why trade forex? Well, it is simple if you look at the facts. It is a very volatile market trading everyday in excess of several TRILLION. You can also make my in both directions, thus making it recession proofJ. It is also a predominantly a trending market meaning that with a solid strategy and unemotional trading psychology , any person with the aforementioned will have a good chance of taking consistent profit from this market.
After that short paragraph, I asked myself “Why can’t I have a piece of that pie? I don’t want a million, just enough to get home and by my fiancée a nice gift then and again.”
That is then where I started, and that is exactly why one should at least demo trade the forex market.
Trade Well, Live Prosper.
posted by Unknown at
11:55 AM
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