IF THE BANKS DO IT- WHY DON'T YOU
All major banks including central and government throughout the
world make a "shed" load of money from the currency or foreign
exchange market (FOREX).
In the year 2004 the Bank of America made over $750 million.
Until de-regulation in 1997, this money generator was only
available to the large financial institutions, but now with as
little as $300 any individual can open an account and trade
FOREX.
Trading currencies is relatively unknown which is surprising
because it is the largest market in the world (trillions of
dollars are traded each and every day). It is the best trending
market as it keeps moving in the same direction (this can be UP
or DOWN) over 78% of the time. As there is no central exchange
and because it is a world market FOREX can be traded 24 hours a
day so it need not get in the way of your other business
interests or social life.
Foreign currency trading is such a lucrative and easy to
understand market that many who used to trade stocks, bonds,
commodities and futures have switched to trading nothing but
FOREX. Even Bill Gates and the world renowned trader Warren
Buffet now trade currencies as part of their overall strategies.
If they are doing it shouldn't we follow them, after all isn't
it true that to become wealthy or successful you have to do what
wealthy and successful people do.
You can make this market as exciting or as dull as you want,
just turn the knob and you can have the adrenalin rush of
jumping in and out of the market literally within seconds
(commonly known as SCALPING, but we're not playing cowboys and
indians) or the more sedately approach of making your trade and
then sitting back (this is known as INVESTING). Somewhere in
between there is DAY and SWING Trading. It is entirely up to you
which way you to trade or if you really want to go for it DO
THEM ALL.
A word of caution, trading currencies may or may not be right
for you but the good thing about this market is you can try it
out. That's right, you can open a demo or virtual account and do
everything that you can do on a real account. But the really
good bit is, it won't cost you a dime.
Like everything else in life, from learning to crawl, to
walking, to riding a bike, to swimming, to driving, and so on,
you need to know what you are doing. Build your knowledge, study
and practice, practice, practice.
Finally, once you know what you are doing and have proper money
management skills, there is absolutely nothing to stop you
becoming EXCEPTIONALLY WEALTHY as a result of trading foreign
currencies.
I traded stocks when I first started but there were so many
factors that you had to account for and so much to learn about
each individual share and it's company that it was a daunting
and time consuming task. It was a very easy switch to trade
currency.
I trade the FOREX market full time now and if you visit my
website http://www.HomeForexTrading.com you can enrol on a FREE
Trading course.