Forex offers trading on each and evry platform world wide. International trading keeps the bussiness in profit due to the currency rates. best trading is the forex trading.
That is not necessarily the case. It depends on what type of market suites your trading system best. Do you need high liquidity? Do you need an accurate volume feed? Do you need level 2 data? I agree that the forex market is huge and that the liquidity is great especially for the major crosses. It is also open twenty four hours a day and does not have a long bias like equities. But, it does not suite all trading strategies and trading personalities. Find a market that fits your personality, your needs and your trading strategy and you'll find success easier to achieve.
Forex can bankrupt the most talented equities trader and vise-versa. Don't be the guy who lost all of his money because he bought the wrong dinar.
Traders need to really have a solid plan, and technical prowess if they intend on really making any considerable money with FX or any other form of trading. People that trade based on "hot tips" or "new" with no idea about the fundamentals, or past performance of an asset are heading for trouble. A true technical trader does not lose more than they can afford to, because stop losses are in play to avoid this sort of mishap. If you want to just "let it ride" on a hot tip, you should go to the horse track or casino, because your odds for success are the same.
Why haven't our exchange rates altered much? Why is the American dollar so low? In the good ole day it used to be one US dollar was worth close to two Canadian dollars. Now, you will only get about $1.03 Canadian. That's a sorry state of affairs!
Why is this happening Allison2021?...are we headed to another stock/forex depression/recession or?...from what you are saying that's a might steep right there
The forex market is huge, sure... But that doesn't mean it's the best market? Many successful traders started with FX, but later on moved to stocks. FX can be very unpredictable and produce enormous losses, even more so than (high-ranked) stocks. Personally I'd rather trade stocks.
We can earn money quickly without much effort, but we have to be very smart with this market, not to lose all our money, because of the volatility. It is my personal opinion and experience.
As someone that has swam the shallow sides of the FOREX market pool, the number of benefits that trading currencies offers over stock trading are vast: 1) As the market is open from Sunday to Friday (yes, 6 days a week!), you have many more opportunities to make some green. Personally, given the option, I would love to make money on Sundays, but that's just me. 2) You can start off with only a small amount of cash in your broker account. For instance, Oanda (a popular NY-based broker that is open to Americans) lets you open accounts starting with just pennies. Once you get the hang of it, you can grow. 3) Believe it or not, currencies are actually quite stable, therefore predictable. Let me explain: When the CEO of Apple (or any other company) were to be incapacitated, the company's stock would tank. Major currencies (eg Dollar, Euro, Yen, Loonie), on the other hand, have trends that can last for years -- even despite election results and other political turmoil. If a major country has an upward trend going for it, that can last for years and years -- more opportunities for you to pound that baby (no pun intended). 4. There are only a few curreincies that you need to understand to make money; these currencies are called the 'majors', and includes the main world currencies. That is a lot easier than having to understand the god-knows-how-many stocks you can choose from. In other words, currencies are a lot less complicated than stocks -- but that's just my humble opinion! p.s. nothing I've said here is meant to be advice; please do your own research before making financial decisions.
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