I know this is a little bit of back tracking, but I think that Forex Trading is a great home based business to be involved in. As has already been discussed in this blog the Forex exchange is the biggest financial market around the globe traded by millions of currency traders daily. According to the BIS study Triennial Central Bank Survey 2004, average daily turnover in traditional foreign exchange markets was estimated at $1,880 billion. That was in 2004, it's even bigger now.
Why choose Forex Trading online as your favorite business model?
- Make money from the comfort of your home.
- Operate your online business from anywhere.
- The currency market is open 24 hours a day => work whenever you want.
- Successful currency traders earn BIG PROFITS.
- No worries about a part- or day time job
- No inventory to manage.
- No customer support.
- No employees.
- Low start up costs.
- YOU ARE YOUR OWN BOSS.
All you need is a computer and a stable connection to the internet. That's the only cost.
What do I need to know about Forex?
Before you open a LIVE Forex Trading account with a broker, you need proper education and a free Forex Trading demo account to start practicing Forex trades that you have learned. As with anything in life, if you wish to become a successful currency trader you must invest the necessary time. It is extremely important to have a good understanding of this market before going live.
For example: Do you know what a pip, forex chart, mini account or margin call is? To succeed as a currency trader, you must have a very good understanding how the forex market works, without a strong foundation of forex core market knowledge, you can never take yourself to the next levels of currency trading. If you have been following this blog or have just started most of these topics have been covered already. If you are new, start from the beginning of this blog and read though it. I will be adding to it and trying to cover most of the topics as I understand them as the blog grows.
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