Understanding the market can be difficult, but nothing is impossible. I’ve been trading currency for a few months now and let me just say, it’s addicting once you get familiar with the charts. There are so many methods of currency trading (FOREX). Oh, I’m sorry, if you don’t know what currency trading is, well let me tell you. Forex (Foreign Exchange Currency Trading) is a type of stock trading, but instead of buying shares you are buying and selling currency. I’ll get more in detail on my style of trading in a different post. I am here to tell you the reasons you should learn this amazing skill.
A Skill You Will Love To Do Everyday
The currency market is open 24/5. It opens up every Sunday Australian time and closes every Friday at 5 pm (E.S.T). There are so many methods and styles of trading. There are scalpers, intraday, swing, and position traders. I am an intraday trader. I normally leave my positions in for a few hours to a few days and get out.
- Scalper’s – they usually are in and out of positions
- Intraday – in for a few hours to a few days
- Swing – in for a few days for a few weeks
- Position – long-term positions, usually in for a few months to a year or even longer.
Once you get the hang of trading, it’s an addiction. You love to do it every day because you will be making money.
One of the greatest accomplishments of currency trading (FOREX Trading) is that once you see that you are consistent with your profits, those profits build up and eventually get you out of debt. ((( Currency trading is not a get rich real quick scheme )))
Take it from someone like me who is a current currency trader, at the moment I am getting small wins with some losses, but that’s okay because mastering the skill should be your main priority.
Okay, so those are 2 reasons why you should consider trying the currency market. Most brokers that I know of have demo accounts so you can give it a try before you actually want to start with real money. This is great because you can save money while you are learning the skill on the demo account and once you accumulated the amount of money you want to start off with you will be set and start making some money.