FX Spot Trade Video Bloomberg
The Foreign Exchange Market (Forex, FX) is the arena in which a nation’s currency is exchanged for that of another at a mutually agreed rate. It was created in the 1970’s and is now considered to be the largest financial market in the world because of its huge turnover. According to the Bank for International Settlements, the average daily turnover in global foreign exchange markets is estimated to be $4 Trillion. It is very lucrative and efficient in which people in all walks of life can actually participate. However, FOREX has been overlooked for years since people thought that only rich people can participate in this market. Here are some reason why FOREX is suitable for all:
1. Since internet and worldwide web has began, business evolved from offline to online. Market coverage abruptly expanded with just one click. With that, it is possible to transact any currencies worldwide by just using internet. People around the globe can monitor live market trends.
2. You can actually trade without a big capital which means that it isn’t necessary that you have a big amount to jumpstart forex trading.
3. FOREX is never complicated. It is just based on a simple DEMAND and SUPPLY principle. Buy at lower price, Sell at the speculated high price. So simple.
4. Some say you need to be smart enough to trade in FOREX, that’s a fallacy! Being so smart sometimes cannot help, it will just make you complicate a simple system and creates analysis paralysis.
5. Some say you need to be a graduate of some Financial-related courses -again this is a fallacy! In fact, in US and Europe, there are many forex traders who are just KIDS. You can study online, there are many videos and tutorial lessons online and you can practice for yourself in DEMO trading accounts.
6. FOREX is a simple BUY and SELL business. However, the difference is that, you need not to do some ‘salestalk’, there are brokers who will do that for you, all you need to do is to set the right entry in BUYING and SELLING and you will just wait for your profit. It’s as simple as that!
7. The only capital in this business is yourself. The more patient and disciplined you are, the better will be your performance. It’s more con self improvement and conquering oneself. 😉
I am willing to be your partner in building your FOREX trading career and I will be very happy to tell you more about this industry.
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