Reason to do trading?

Discussion in 'For novice traders' started by Roman Rias, Sep 21, 2017.

  1. Roman Rias

    Roman Rias Member

    Forex is a rare type business where you don’t need too many reasons to do it due to the massive potential that’s there, but still what is that one reason why you love to do Forex so much?

    I as said love it due to the potential, but more so because I can do it according my own schedule given the market is open 24/5 and can be done from any corner of the world. So I personally love that ever so much!
     
  2. I have simple reason to do trading and that is because I love it and this is just the kind of business I love and enjoy being part of. The biggest benefit of this business is that we can make good money even without taking huge risk at all, so that makes it so special.
     
  3. ibm'73

    ibm'73 Active Member

    For me, forex has the potential to change my life, as I have done and many other traders that I know.

    The fact is: forex is the largest financial market in the world and is the gathering place of its traders around the world, other than that forex can be counted on to earn money in times of economic crisis and most of all I can become your own Boss.
     
    Nia likes this.
  4. Nia

    Nia Member

    Yes, that is true
     
  5. NewbieTrader

    NewbieTrader Member

    Becoming your own boss, that is the thing. And the limit is ourselves. Other common businesses are like swimming in a pool. But forex market is like surfing out in the open ocean.
     
  6. Tengkorakfx

    Tengkorakfx Member

    So do I. The chance isn't only in trading, also in the other things relate to forex trading itself. kind of becoming IB, broker's representative, forex changer and many more. So the important thing is keep to learning about forex trading and all things that related to it.
     
  7. andengireng

    andengireng Member

    Forex trading is done in a currency pair. For example in EUR / USD pair: "buy" transaction means buying Euro while selling US Dollars, while "sell" transaction means selling Euro while buying US Dollar. When we expect the Euro to weaken and the USD strengthens, then trader will open a trading position "sell". On the contrary, when expecting the Euro to strengthen with USD weakening, then trader will open a trading position "buy". Thus, the forex trader can benefit, both when a currency weakens and strengthens.
     
  8. NewbieTrader

    NewbieTrader Member

    Speaking of currency, which pair do you trade with? I like GBPUSD. any other suggestions and why you choose that pair?
     
  9. Tengkorakfx

    Tengkorakfx Member

    I used to trading with pair GBPUSD and EURUSD because I already know the pattern of value movements of both and both currencies are major currencies and much-liked among traders.
     
  10. NewbieTrader

    NewbieTrader Member

    used to? that means you're not trading them anymore? which pair do you trade now?
    your reasons make sense. just like mine ;)
     
  11. andengireng

    andengireng Member

    Forex Trading Can Be Done Anywhere, can be done online, with computers, laptops, tablets, or smart phones, just by click on the trading software that has been provided broker. Plus the speed and cost of the internet increasingly cheaper day, the overall cost of online forex trading can be very small and affordable. This is the advantage of forex trading number one.
     
  12. Tengkorakfx

    Tengkorakfx Member

    But apart from this positive point, you need to learn the basic of trading itself, one of them is support and resistance levels that can help you to predict where the price will bounce since prices on pairs will move in a zig-zag pattern...
     
  13. andengireng

    andengireng Member

    Forex trading is done in currency pairs. For example in EUR / USD pairs: "buy" transactions mean buying Euros while selling US Dollars, while "sell" transactions mean selling Euros while buying US Dollars. When you expect the Euro to weaken and the USD to strengthen, traders will open "sell" trading positions. Conversely, when estimating the Euro will strengthen with a weakening USD, the trader will open a "buy" trading position. Thus, forex trading players can benefit, both when a currency weakens and strengthens.
     
  14. NewbieTrader

    NewbieTrader Member

    Yeah. buy and sell. most traders don't understand that we can approach trading from those two point of view. this also means, it is important to follow both currencies within the pair, instead of just one.
     
  15. andengireng

    andengireng Member

    Certainly there are many advantages of online forex trading compared to other existing businesses. Like one of them is Time Flexibility. So this time for trading can be done anytime, whenever you have free time. Because the market or market in forex trading is open 24 hours, five days a week. So you can do anything, except on Saturdays and Sundays because the market is on holiday. If you have free time in the morning even at midnight please do your trading activity.
     
  16. broforex

    broforex Member

    As a financial instrument with the largest trading volume in the world, the potential profits in forex trading will continue to emerge and wait for you to get. The advantages of forex trading compared to other online trading instruments in my opinion are: 24-hour Open Market, Very High Asset Liquidity, Use of Leverage to Multiply Profits, No Need for Large Capital.
     
  17. NewbieTrader

    NewbieTrader Member

    24-hour open market sure is giving us a lot of opportunities to make money. imagine if it's 24/7 guys, which means we can trade everyday including weekends :D what do you think? yay or nay?
     
  18. Tengkorakfx

    Tengkorakfx Member

    Even it is a good thing but I would say nay. Cuz we are not only using our 24/7 only to observe the charts and trade. We also need some proper rest to clear up our mind...
     
  19. broforex

    broforex Member

    Forex is a financial instrument with the largest trading volume in the world. This causes forex to have very high liquidity, especially in the world's most popular currency pairs.
     
  20. NewbieTrader

    NewbieTrader Member

    yep agree. plus, it's a two-way investment. meaning, whichever goes up or down, we can make profit. so what do you think about 24/7 trading? which means everyday. no day off on weekends.
     

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