Forex or Foreign Exchange Trading is an investment activity that has been around for a very long time. It is a worldwide market well known for its long trading hours (24 hours a day, except on weekends). It is also unique in terms of liquidity, a word so rarely heard in these credit crunched days… And this is probably the reason why it is becoming the most popular type of medium-term investment.
I hear many traders and brokers that have recently lost their jobs are now indulging themselves on online forex trading, “just to keep the dust and rust away”. Another good thing with forex trading is that it suits all types of sleeping patterns.
So, for example, if you fancy working all night long and then snoozing the whole morning, with a grinning smile for you don’t have to get up and go to work, then it might bring you joy what I am about to say… You can trade currencies at any time you want. All the time if you wish (I’d better that you didn’t though! No, honestly… you’d better not.)!
And it’s easy in markets volatile like this. One day one currency goes up and the other one it comes back down. So, all you need to do is spend at least staring at your PC’s screen, when it becomes green, we lock the profit. If it’s red, we leave it for a little while longer and check back… but please not for too long!
And always use the stop-losses orders. Actually, the stop-loss orders are the single most important thing for anyone (and everyone, including the professionals) to figure out before he even thinks of the idea of trading for whatever reason that might be (hedging, speculation, fun…).
I hope everyone that reads this post realizes that I was kind of joking, kind of being honest. Good luck and be very careful when choosing your online forex broker!
- I am a financial services writer with experience in forex trading and stock market analysis.
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