Online Trading! 7 Reasons to Start Currency Trading Right Now!
Speculation is economical activity, when one doesn't render any services, produce goods, but is a middleman between a salesman and a client.
Currency speculation is a special kind of speculation. There, the goal is to buy currency at lower price and the sell at higher price. Most speculators follow this principle. But you shouldn't consider that as something unfair or unworthy, because an average speculator earns than a regular manager or worker; they also help many people, changing currency with more profitability than in interchange stations. We'll further talk about ways to earn with currency speculation, online trading, its pros and cons.
1.Online or Real?
2.Online Trading Advantages
4.How Many "Forexes" Do We Have?
Online or Real!
If you decide to start currency speculation, there are two ways. You can either buy currency in interchange stations and so on - you receive notes and have them in full disposal; or trend to online trading. In second, one buys or sells currency through a broker, but only virtually. When trading is finished, trader either gains, or losing - depending on results.
Online trading is more popular. Let's talk about it.
Online Trading Advantages!
- Trading online, you can work from any place of the world, having internet connection - even at the North Pole, or in Alps. It suits those traders who love traveling the whole life. Earn money with forex and spend it on trips. Quite attractive? Yes, but only if you learn how to do it.
- Another advantage of online trading - the opportunity to work at any time - no schedule. Your time doesn't belong to anybody except yourself. Trade when preferred. Nevertheless, most traders have schedules, because movements of currency rates and their extents depend on time periods. For instance, movements are most noticeable during the American Session - when a workday starts there. Though, you can choose your own trading period. And if you don't want to trade in one day, nobody will blame you for that.
- You don't need to do much to buy or sell currency - just click on your mouse button. And trading through changing stations requires commutes.
- Internet is the biggest database ever created. Trading online, you will always be tuned to significant events, able to flick through economical news, indices, indicators and major companies' reports. Modern trading terminals have a wide range of functions for technical and fundament analyzing. Other speculators don't have any of such stuff.
- Today, brokers offer so little fees, that people can trade in one day, opening the order in the morning and closing in the evening, or hold it for just a couple of hours. Stations can't offer that, because the difference is 10-20%. If makes short- and middle-term trading impossible. So, a speculator has more opportunities to earn with online trading.
- Furthermore, one can communicate with other traders. There are lots of forums, communities where you can ask questions, talk to professional traders and share your thoughts. It makes trading more interesting with company, and profitable especially for newbies. Novices can be easily advised.Actually, there is another side of all that stuff. We'll check it out further.
- Along with mentioned features, you can get do called leverage. That means a trader can place bets on 10000 $ and more, having only 100 $ in disposal. It lets gain much with minor investments. Of course, bank- and station-speculators don't have such an opportunity - thus, gain less.
- There are by far more cheaters online, than in real life. Actually, it's a lot easier to make a fraud on the Net - you don't need any offices, licenses; and nobody can prosecute your website. And brokers are often registered at offshore bases and have no legal responsibility to clients. Because of that, there are so many pyramid-schemes and scams, grabbing money and shutting down. It's difficult to reach them then even for a brilliant international attorney. Though, trading with reliable brokers, there is only minimum chance to get in a trap.
- Using leverage, you can either gain much or lose everything in a moment. Once you place a solid bet - just a slight price movement opposite to your forecast can lead to bankruptcy. So, don't place enormous bets, trading with minor part of your stash. And following described rules, you are not likely to waste your deposit.
But these rules are regularly broken by 95% of brokers...
- As I've already mentioned, communication with other traders has its another side. In fact, the crowd instinct can take place at a forum. One will do what the majority do, but it usually makes mistakes at the exchange. Thus, statistics say that 95% traders lose their money. Following the crowd, trusting any "half-experts", you will lose your money soon. That's why communication is good when reasonable. First of all, trust yourself and your strategy, even if you suppose another one's will make more profits. Just think why a successful trader would share secrets earning good with them.
- Don't forget about moving! If you are always sitting at your monitor, you'll become fat! Want to be healthy and wealthy? Then stand up regularly and take strolls. Run to the nearest interchange station and compare rates with your terminal. Just for fun.
How Many "Forexes" Do We Have?
From one point of view it can seem to be a silly question. Surely, there is the only forex, or...there are several of them..
You can be rarely told about that, but there are two of them: Interbank exchange, where major investors and banks trade; and online forex trading platform having nothing in common with the interbank exchange. Forex is like a casino, where you can earn if you know how to do it. Interested? Learn more about this point on our website or with the video at the top of this article.
So, online trading is the way to your financial independence, because you will never go to work, and stuck to any geographical position.
But you must realize this way of earning has its pros and cons. Following described rules, you will avoid any malignancy. The rules are very simple, though, most traders break them and then lose their money. Don't join them!