Why forex trading sucks?

Why does forex trading suck? Because you suck at trading forex! That's why. Master forex trading and learn a good trading strategy. We will help you suck less at forex trading.

Are you a terrible trader?

Forex gives ordinary people the opportunity to earn money from home.

24. April 2024 by Click insider / Forex Trading

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Want to make money in forex? Here is an introduction for people who have little or no knowledge of currency trading and forex trading.

Forex is more or less strategic trading currency. The goal is to make money. Many engaged in foreign exchange trading has probably ambition to get rich on this.

Who can engage in forex trading?

all operate with foreign exchange trading? The answer is NO. If you do not have money, you have nothing in the currency market to do. To make money in forex you need a little start-up capital to begin with.

In addition to having little money available must also have an opportunity to transfer this money to your foreign exchange broker. It normally acceptable transfer via credit card, bank transfer via internet banking, transfer directly to the bank, and in some brokers also transfer via PayPal and similar services. You must also be of legal age (18 years) to engage in foreign exchange trading.

minimum requirement to conduct foreign exchange is thus:

  • Money which you can use forex trading
  • Outlining credit cards, online banking, PayPal account, etc.
  • Age - at least 18 years old

It is also advantageous with some basic proficiency in English or possibly German, French or Spanish. You need not be a language guru, only you understand the basics it's good enough. There are after all dictionaries for those who need it. Moreover forex terminology characterized by English words and phrases that you whatever needs you. This is because the foreign exchange brokers available on the internet today mainly use these languages.

Making money from forex trading

objective of currency trading is to make money. You can of course have your own vision of why you should start with foreign exchange trading, so that it can give you more freedom, the ability to work from home, work when you want, etc.

Anyone involved in forex trading one common goal: to make money. It beetyr you are a competitor with all the other players in this market. In the currency market are beginners as well as professional traders, banks and companies. To make money on the foreign exchange market have someone else lose money in the same market.

Speaking foreign exchange market, this market is the largest financial market, with a daily turnover is far greater than all the world's stock markets combined!

To make money you just have to do one thing:

You have to guess correctly about a exchange to go up or down.

That's all you need to do! You just have to know about the exchange rate will go up or down. The problem, of course, is that no one knows what the future brings. No one knows with certainty whether an exchange rate will go up or down.

If you do not know anything about the future, how is it possible to make money by betting money on future movements in the currency market?

Although the future is unknown, one can make calculations and substantiate various outcomes. Think Football: Rosenborg and Brann will play against each other. You bet your money on one of the two teams, because you have an idea that the team is going to win. But what is it that makes you believe just that the team will win? You have a gut feeling, and maybe you've even analyzed the players before you have arrived at a conclusion.

Currency trading can be compared to betting on football, but hard to find, much easier. Gut feeling little help here, but you can use technical and fundamental analysis tools that can give you an indication of future changes in the exchange rate.

Fundamental Analysis is about studying the foreign exchange market. This concept sounds terribly frightening to some, but it is not so difficult. Here is an example:

Unemployment in the United States, for example, affect how the dollar moves in the currency market. If multiple countries using the Euro as the currency shows a decline in unemployment, while in the U.S. we see also an increase in unemployment - what do you think will happen then?

Most likely this will affect the exchange rate to USDEUR (U.S. dollars and euros). The likely here is that the euro will rise against the dollar. Of course there are also many other factors that come into play simultaneously.

Fundamental analysis is simply to follow what is relevant for a currency pair. Should you speculate USDEUR it is important to stay abreast of the economic news that relates to these two currencies.

A good Forex broker helps you usually have to stay current on currency-related news. Are you a customer of some of the best mediate clean you will also receive daily analyzes for free. We recommend that you use one of the forex broker mentioned by us, as we have compared most brokers out there.

Technical Analysis. The technical tools we think primarily on technical analysis. It's not that hard. We're not going to write much about it here, but for those interested, there are plenty of reading material on the internet. Click on the link for a good explanation of the technical analysis.

Want to get rich?

It's not easy to get rich in forex trading, but it is possible. Why anyone not happy is that they do not take the time to familiarize themselves with the most basic things.

This Forex Guide is a free resource that will help you to make wise decisions, so that you too can make money in forex.

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