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Thread: 6 Reasons To Trade Forex

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    Default 6 Reasons To Trade Forex

    Trading forex is a home based business for many people all around the world. But why invest your own money and risking it ? Here are 6 reasons and there are more !

    Low-cost

    Of course I am not talking about the fact that you have to fund your trading account. No I am talking about the management of your account and the fees involved. You will never have to pay anything for your trades. If you make a profit or loss, you don't have to pay a commission to the broker.

    Your forex broker make his profit with the margin between the two exchange rates (buy and sell). This is the spread.

    When you want to sell a currency, you may have seen that the selling price is lower than the current price. The broker automatically apply a 2 or 3 pips spread (or more depending of the pair traded). These 2 or 3 pips are the profit of the broker. With all the transactions every day, the broker makes a nice profit.

    So you are not asked to pay for trading.

    Trade anytime of the day.

    The forex market is open 24 hours a day, from monday to friday. You can trade one all day long if you decide to get in that business or just a few hours after your day job.

    Trade big volumes with low volume.

    This is called leverage. You can trade 100 or 200 times more the money you want to use. If a broker offers you a 100:1 leverage, you can use $200 only to trade $20,000.

    Micro accounts

    You can open an account with $300 only. Although it's better to start with $1,000 to be more comfortable, your budget may be small. And you can go as slowly as you want, as long as you are making profit.

    Demo accounts

    Not all businesses allow you to practice for free. That's true, if you had to launch another kind of business, you would have to buy and resell goods. You can practice forex trading, for free, in a demo account, and see if this business is for you. You will have $50,000 or more to trade, of course this is fake money, but you are using the real time market, datas and statistics.

    You can even open a demo account with different brokers. This will allow you to find the most convenient for you.

    Making Money

    This is the main purpose of trading forex. Making money online takes various forms. Trading forex is maybe the one offering the highest profits, if done correctly. Educate yourself, practice a lot, trade slowly, earn pip after pip and you will gain the trader skills to success.

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    Forex is boring. Remember that and money will come.
    Is Cookin!!!

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    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by TheRock View Post
    Forex is boring. Remember that and money will come.
    I don't know about it being boring. I get great satisfaction when my technical analysis turns out to be correct sm_happy

    It's an interesting way of looking at things though. I guess what you are saying is that you should try to keep emotion away from your trading.

    If you are losing, don't get depressed and make stupid trades to make up for the losses. Likewise if you are having winning day, quit while you are ahead, keep those profits and start again tomorrow.
    Jafar Calley - Director
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    http://www.fxopenaus.com

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    Quote Originally Posted by TheRock View Post
    Forex is boring. Remember that and money will come.
    if forex is boring, what you can say about egyption stock??sm_upset

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    Quote Originally Posted by TheRock View Post
    Forex is boring. Remember that and money will come.
    Maybe the more we should do is that makes the reasonable judgement and holds the opportunity.

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    Forex is boring. Remember that and money will come.

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    Atleast I don't find forex boring when my profits are rocketing. I do wish it were open on weekends too :P

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    And dat never moves
    Strategy without action is just dreaming, action without strategy is nightmare" Japan proverb

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    Forex is not just for anybody that has money but for real business minded people,when i started trading Forex i traded it for fun because back then i thought it was a gamble make some loose some but after 5year of experience i have come to understand that Forex is not gamble,people loose money in Forex because of greed and money management principle,all of this i will be sharing in my new thread
    asker

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    Shhhhhhhhhhhhh im on a 43 trade hit spreeeeeeee scalping alll day once u get the understanding the Forex is like takeing candy from a monkey
    Strategy without action is just dreaming, action without strategy is nightmare" Japan proverb

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    Forex is very unpredictable indeed. You'll never know anything 100%!

    Here are some simple tips that will help you increase your profit potential prevent you losing money.

    1. Select your first broker
    2. Get simple method you understand
    3. Trade the big trends not trade frequently
    4. Work smart not hard
    5. The formula to success:

    Using Simple Method + With Discipline + Control Risks = Forex Trading Success

    Keep these simple tips in your mind you could make some big profits on forex trading.
    Strategy without action is just dreaming, action without strategy is nightmare" Japan proverb

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    Intraday Master cafedeart's Avatar
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    Default Good Forex Trading tips written by Masoud.

    Its a re-post article from some of my friend name Masoud, he has his own website and any one can head up to there to grab some more knowledge about forex. here the site : http://www.thegeekknows.com
    Sharing this article here to share those good and valuable tips with all of you, let's read it:

    ""Good Forex Trading tips
    Good day forex traders. from -- Masoud.

    Today is the first day of the new year. Happy New Year and may the year be excellent for you!

    In this forex article, i am not going to do any forex forecast. Rather i would like to share some thoughts that i personally believe is crucial to ensure a high possibility for good forex trading in the new year.

    Never trade with money you cannot afford lose. For example if you have debts to clear, you should consider clearing those debts first. Forex trading is not a get rich fast method.

    Proper money management is a must. Make a bad trade with proper money management and you can learn and try again. Getting a margin call with a bad trade with no proper money management and that is the end of your forex trading.

    Never overstretch your winning position. If the market conditions seems to be indicating a reversal or stall, you are probably better off pocketing the winnings. Being green with 1 pip is better than being in the red.

    Never overextend your losing position. It ruins your proper money management, it ties up your funds and may be an opportunity cost.

    Being on the sidelines may be a wise choice at times. There is probably no need to trade constantly.

    Have a personal system of forex trading. Exploring and learning from others is good but understanding it and fitting it into your personal system is important. Simply following others may not be a wise choice.

    You need to understand the market that you are trading in. Forex is about hard work and research. Technical and fundamental conditions must be known and understood.

    Head over to the Koala Forex Training College for more learn forex trading articles!""

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    Elder Analyst RahmanSL's Avatar
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    Yes cafedeart, like you I too subscribed to Masoud/Koala Forex newsletter. Also articles from Investopedia.com, Geekknows.com, and a few others are quite good and enlightening too.

    It all boils down to trading the forex with a clear sensible mindset and keeping trade strategy simple and uncomplicated.

    As a few forumers posted above, making money from trading the forex should be kinda boring like it's no big deal making money from it.
    If you love your job, then it wouldn't be a job anymore but something which you are good at and love doing.....and the best part is, you get paid very well for doing something you love doing in the first place...and which you might even had considered doing for free (or for far less money) in the first place!
    Last edited by RahmanSL; 02-19-2012 at 09:37 AM.
    "Making Profit IS EASY, keeping it IS NOT!"

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    Market Maker ngepet dolar euro's Avatar
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    @RahmanSL : yes you are right the only way to be succesfull becoming forex trader are by loving its activity. After loving this activity we can provide the best result in our trading day, so profit will come by itself

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    thegeekknows and Investopedia is one of great site that give insight of trading ithink. it is worth to read it.

    And for making money from trading forex is boring, we should make it like our daily activity so it not like a burden to us.
    just enjoyed it...

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