The beauty of trading on the Forex Currency Market, is that you have the flexibility of trading from literally anywhere in the world!
All that is required is a laptop and an internet connection, and you are ready to make some serious money online.
In respect of training or specific requirements, there isn’t really anything necessary.
All that you really require is a good training manual be it via video or eBook, and that should be enough to get you going and to start trading Forex.
But why trade in Forex?
What is so special about this type of market in comparison to say the stock market?
OK – well here are the main reasons why you should trade in Forex:
Forex trading offers monetary leverage. In basic terms this means that you can trade with a very low capital outlay and can control a very large currency position. You can trade a standard of $100,000 currency lot by investing a very small amount of capital to the value of $1000. And believe it or not, some forex brokerage firms even allow you to trade with even less capital – by giving you up to 200 times the leverage. So let’s say that all you can afford is a mere $100 – well you can probably control a 200,000 unit currency position.
The other great thing is that online forex trading has very low transaction charges, even if you have a mini account or trade in small volumes – which is not quite the case when trading on the stock market.
Another important factor to bear in mind is that forex market transparency is an advantage since there are no hidden figures. Basically you get what you see and there are no hidden or unexpected surprises. The beauty of this is that it enables you to manage your risk and you can control your order within seconds if you want to stop further losses in a particular trade.
The forex market also allows you to trade in any direction, that is, whether going up or down.
Real time is one of the many advantages in forex trading. The forex market never closes as it is a constant electronic currency exchange taking place universally. Let us remember that this is a worldwide trade, involving a huge array of currencies, currencies of various nations.
It operates 24 hours a day, thus allowing you to enter or exit a trade whenever you like. So this enables you to trade whenever you have the free time and as long as there is an internet available anywhere.
As you grow in experience you can and will earn extra income by profiting from this sort of online trading in foreign currency. And if you trade in a smart fashion, by using the various analytical tools available to you – you can profit by predicting the outcome of a trade based on observing the changing trend of a currency which normally repeatedly shows up in predictable cycles.
I will end this by saying that there is an unlimited earning potential when you trade in Forex.
It currently has a daily trading volume in excess of 1.5 trillion. This makes it the largest financial market worldwide when compared with the equity and futures markets of 50 billion and 30 billion respectively.
If you wish to take this further and if this article has incited some sort of excitement within you, than please have a look at my resources box as a start to making it in the online world of Forex Trading.