Dear visitors,welcome to my humble site. My name is Alex Green, among friends also known as THE ANIMAL, you will find out Im the trader who actually made over 6k profit within my first year of trading. That time it was 2001 and trading was still done over telephone lines, we had almost no computer software to automate.
With that being said, let us have a look at what Forex really is.
Before we start, I warn you online forex trading IS NOT EASY AT ALL !
So what actually is currency trading ?
It is very simple.. you buy one currency and at the same time you sell the other curency. For example you speculate on rising Dollars so you must sell EUROs or British Pounds at the same moment you buy Dollars. You buy currency with the aim in mind, that buying currency will go up versus the currency that is being sold. You profit on the difference. or .. ehm you lose lots of money but that is completely different story.
What are the benefits of online trading currencies ?
- market is open 24/5 from Monday to Friday
- you dont need any special permissions to enter the market, you just have to be over 18 in Europe
- high leverage that allows you open large trades with small margin
- relatively low entry capital required .. approx. $1000 and up
What are the disadvantages of currency trading ?
- high fluctuation, very instable market
- it is way too hard to predict market moves in case you trade shortterm
- there is a lot of buzz about currency market and many beginners are flowing in, having now clue about the market
- this market is being operated by professionals, which means many times your loss is their profit
Here you can find the news about capital markets that you should probably read.
If you are brand new to the game of online trading, you should perhaps firstly read the educational currency trading sites.
What is needed when you want to succeed in the game of online investing ?
- you have to be psychically fit and still –> believe it or not, almost all savvy investors are more calm and introvert persons rather than extrovert
- you need the right forex trading platform that will fit your needs
- you need trading tools (charts Metatrader 4, robots)
Rule No. 1: never lose money; rule No. 2: don’t forget rule No. 1