Why you should try Forex

Discussion in 'Forex - Currencies Forums' started by Stacked, Feb 17, 2014.

  1. Benoit W

    Benoit W Well-Known Member

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    I likе fоrеx bесаusе оf hоw flеxiblе it is. I rесеntly mоvеd tо Hаwаii sо it's niсе nоt hаving tо gеt up аt 3аm tо trаdе stосks. I саn stаrt my trаding dаy whilе аll thе guys оn thе еаst соаst аrе brushing thеir tееth fоr bеd. I аlsо likе thе соnstаnt fluсtuаtiоns in сurrеnсiеs bесаusе оf thе mаny sеtups thеy prеsеnt. I usеd tо trаdе pеnniеs but it bесаmе sооо bоring wаiting аnd wаiting fоr thе pеrfесt stоrm. With fоrеx thеrе's аlwаys pеrfесt stоrms, аll dаy, еvеry dаy. Аnоthеr rеаsоn I likе it is bесаusе it's еаsy tо sсаlp fоr 10 pips а fеw timеs in а shоrt pеriоd, thеn саll it а dаy, аnd thаt's gооd bесаusе i spеnd а lоt оf timе оutsidе nоw, gоing tо thе bеасh, hiking in thе mоuntаins, wаlking thе dоg thrоugh thе wооds, еtс. My lаst trаdе lаstеd fоr 6 minutеs, а shоrt оn АUD/USD fоr 10 pips. Оnе mоrе trаdе аnd thеn thе rеst оf thе dаy is minе tо dо whаtеvеr I wаnt. With fоrеx I trаdе whеn I wаnt, hоw lоng i wаnt, аnd оn my tеrms. Nо mоrе bеing а slаvе tо my соmputеr аll dаy just bесаusе thе mаrkеt is оpеn... smilе.gif I think thе biggеst thing thаt hеlpеd mе thоugh wаs fоrgеtting аbоut missing mоvеs. I fоund thаt thе lоngеr I hеld pоsitiоns, thе mоrе likеly I wаs tо gеt burnеd, аnd I did gеt burnеd. Nоw I just sеt my TP аnd lеаvе it аlоnе, аnd I'm mаking wаy mоrе mоnеy bесаusе оf it. Plus sinсе I'm suсh а shоrt tеrm trаdеr it isn't nесеssаry tо аnаlyzе еvеry littlе thing оut thеrе аnd try аnd fоrm аn оpiniоn аbоut it. I just trаdе whаt I sее аnd GTFО аs sооn аs pоssiblе, аnd it wоrks. I wоuldn't sаy it's brаinlеss bесаusе I'vе bееn аt it fоr 2 yеаrs nоw, but it's thе nеxt bеst thing. I dоn't hаvе tо strеss аbоut аnything bесаusе I dоn't lеаvе mysеlf еxpоsеd likе lоts оf pеоplе dо in stосks. Аnywаy I'm stаrting tо rаmblе оn аnd оn sо I'll stоp. I hаvе а prоblеm with rаmbling. LОL Mаybе I'll соntinuе this in а trаding jоurnаl sооn.
     
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  2. radex78

    radex78 Senior Investor

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    I am like forex because this still become reliable source income and opened for everyone, although only graduate from middle school but also have same opportunity to making money from forex, and also although treat forex as part time business but still can managed time in forex because market open 24 hour 5 day a week, I can trade anytime as long as have spare time.
     
  3. rakhi

    rakhi Active Member

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    The Forex market never sleeps,It has unmatched liquidity,It is affordable & accessible,You can profit regardless of market direction.
     
  4. rakhi

    rakhi Active Member

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    Even if you are an experienced stock trader, or you are just a beginner, you should really try this powerful opportunity. Forex is less risky than trading stock or futures.
     
  5. gauridollar

    gauridollar Member

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    Hello, I think you should start by constructing a trading plan. First you need to find out what type of trader you are.
    Thank you
     
  6. kirtimeliwal

    kirtimeliwal Senior Investor

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    Forex trading is a good option to trade as it provides various opportunity to make a better profit but it is risky also. Trading tips like forex, commodity and stock tips are advisable for a positive outcome and risk management.

    Investing in the market is more art than science, depends on the investor how artistic he is. A trader should be smart and a good analyst.
    stock tips
     
  7. manishaTrifid

    manishaTrifid New Member

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    These three points will help you to understand about forex market and why you should trade in this market-
    First, it is the largest and fairest market in the world. The average daily trading volume of the foreign exchange market is 1.9 trillion US dollars, which is equivalent to 4 times of the futures market and 30 times that of the US stock market, making it the largest and most liquid market in the world. The huge market capacity makes investors have enough profit margins. The volume of foreign exchange trading is very large, basically, no one or institution can manipulate the market.

    Second, the trading hours are long and can be traded for 24 hours. The foreign exchange market is open 24 hours a day, unlike the stock market, which only trades between 9:30 am and 3:00 pm. Therefore, the foreign exchange market is suitable for active traders. Investors can trade according to their schedule. At the same time, the 24-hour uninterrupted nature guarantees the smallest market cracks; in other words, the possibility that the opening price is dramatically above or below the closing price is excluded. That is to say, because of the 24-hour market, it is impossible to open or open the gap.

    Third, the two-way profit model. Forex trading always involves a currency pair. When you buy a currency, you must sell another currency. You can hold both long positions and short positions, and you have a chance to make a profit regardless of the market. International economic and trade has driven the development of the foreign exchange market, making the characteristics of foreign exchange transactions more and more prominent, and the liquidity is strong. The openness of the market and data attracts countless investors, prompting foreign exchange to become the object of favor of more investors.
     
  8. J_C_Anderson

    J_C_Anderson Senior Investor

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    Thank you for such interesting summary, it is useful. All these criteria are extremely important for home traders. For example, 24-hour schedule allows each trader to choose the time to trade that would be suitable. Of course, not any trading periods are equal: for example, there are so-called "overlap" periods when several important trading sessions are connected. Trading during such periods could be characterized with high liquidity and volatility, while period between are relatively slow and quiet. Anyway, interesting trading opportunities could appear at any period, in case if trader knows how to detect them and turn into his favor.

    And the point about two-way nature of the FX market is very important also, as there could be no entirely "bearish" or "bullish" market as it occures at the equities markets.
     
  9. Duong

    Duong Well-Known Member

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    I think I can be any kind of trader. You say it like we are born with the ability to become only one and we have to find out. Be versatile in anything you do and be ready to adapt to change.
     
  10. Phillip Mark

    Phillip Mark Senior Investor

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    I'll pick Forex over penny stock any time. Forex offers more options and profit.
     

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