FOREX trading - myths and facts
Nowadays, a person who decided to multiply his money via Internet trading services, faces a choice that can be expressed in a simple question: forex or stocks? Or, more accurately, Forex trading or stock market?
Indeed, nowadays, connecting your computer to the Internet, you can just step out of your home not only the Forex market, but also on the stock market, futures, options. By the way, you can go on several markets at once: for example, to trade at the same time:
- the U.S. stock market;
- the international currency market (FOREX);
- other international stock markets;
Indeed, why not? Actually, there are a lot. Many common terms in all these markets. Common methods of technical analysis, largely coinciding calendar news, etc. In the end, now there are trading platforms that allow one account to trade on FOREX, and stock market.
But usually the trader chooses only one market. This is understandable: each market has it’s own nuances. Transferable experience in Forex trading on the stock market or vice versa does not work. But this experience is extracted with sweat and blood, you pay a the price of painful mistakes and sleepless nights! And suddenly abandon it and start all over again? And again? No, really, thank you!
Better just to be a specialist in the specific market area, like Forex trading for exmpl., rather than trying to simultaneously sit on three chairs - this is way better than trying to master all markets at once. Nothing good will come of it. And how to make a choice?
Fact: practically every person can start to trade Forex
It is important intelligence and the ability to restrain emotions. Being trained to work in the FOREX market, you will gain valuable and useful in the future skills. Here, learn to react quickly to changes in data to compare the huge flows of exchange of information upon which to build an analysis of your future transactions. Many successful traders do not have higher education, but have the necessary analytical skills.
Myth: Forex trading requires large amounts that are inaccessible to ordinary people.
Fact: you can start your FOREX trading with only $200
Such an opportunity for individuals referred in the world, "margin trading". It is trading with leverage. The idea is that to buy a certain amount of currency you need to have only 1% of contract value. Else you are credited (credit-free) by your brokerage firm at the time of the transaction. After which the credit is automatically responds back, and all profits earned by means of it remains with you. This service is 100% free and has no commission fees.
Myth: Forex trading requires you to have knowledge and experience.
Fact: Yes, of course. If you want to be a successful forex Treder, be prepared to learn at least for three years. You may have to learn a huge amount of information and manually select useful from a pile of rubbish. Forex trading - is a serious job for life, and if you have chosen this path - you have to pass it through. Forex trading does not forgive careless attitude. You will have to analyze and think of every your step.
However, for Forex trading there is an easier way. This is called the daily Trading signals. The main essence of the service is daily published trading recommendations, that allow traders to have a clear understanding what market's doing now. This information is published in a special websites (for example TakeTrend.com) every day at the exact time. Every client, paid for the service, can get access to this data any time he wants.
Using the Trading signals, you do not have a lot to think about what kind of operation must be accomplished. Get advice, make a deal, and watch as your profits increase. Simple, isn’t it?