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Why You Should Consider Forex Trading in 2020

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  • Why You Should Consider Forex Trading in 2020

    If you're thinking about how to manage your trading and investments, you might be considering trading foreign currencies.

    Forex trading is something that many people do, and you can do it with smaller or larger funds available to you. Huge amounts of money are traded on the foreign exchange market every day, and you could get a slice of the pie. But why should you?

    Trade 24/7

    For many people, one benefit of trading foreign currencies is that they can do it at any time. It's a form of trading that is available 24 hours a day, five days a week. That's because it's a global market, so you can follow it around the world. You can start with Australia, where Sydney is a major center, and end in New York.

    Enjoy More Flexible Trading

    Forex trading can also offer the option of more flexible trading. For traders who have limited funds, day trading or swing trading in smaller amounts is made possible. Longer-term trading is also possible for those who have more long-term goals. This means that the market offers something for everyone, no matter what their funds or goals are.

    Join the Largest Financial Market in the World

    The foreign exchange market is the largest financial market in the world. There are almost 10 million traders around the world, and the average trading volume is more than $5 trillion each day. If you trade foreign currencies, you can be part of a market where people have many tried and true techniques to share.

  • #2
    I like the author's idea. I also think that trading in 2020 is very cool business. A lot of people have already written a lot about the fact that it is profitable, saying that you work in the way that is convenient for you and from time to time you get additional income. But trading is also a very useful activity.
    As you progress in trading, you grow and develop as a person. As a rule, trading tests us for strength, reveals our weaknesses, motivating us to work on them, develop, defeating ourselves and our weaknesses every day. Since the most difficult battles and the most brilliant victories take place inside a person, in his head, not on the battlefields, so a large percentage of people who leave trading and such a small percentage who make money stably. In trading, as in sports, our spirit is being hardened.
    It doesn't matter who you are in life. In trading you don't have to be a leader, a jock, or a celebrity. Other qualities are important here - discipline and quick information analysis. In fact, the path to success in trading is open to everyone, regardless of their natural characteristics. The main thing is that a person has a desire to learn new things and to spend some time on it.
    The knowledge itself doesn't give any profit, unless you start using it. You can be smart, handsome and charming, but not to buy Microsoft Shares for 210 dollars, and not to sell them after a very short time at 220 dollars is a missed opportunity. The ability to intelligently apply knowledge and skills is much more valuable.


    • #3
      There are other people who want to trade, but they are either lazy or not ready or whatever reason they made up. But at the same time, such people don't always say the real reason why they haven't started trading yet. That's the most popular excuses I've heard:
      -It's too complicated, I don't know about it...
      -I'm still learning. I'll watch others trade and learn. I'll trade without mistakes later (lol yeah right).
      -It's all a scam. The forex trading is a pyramid, honest people are being scammed, I'm too smart to get caught up in this.
      -Everyone in this market is a criminal and a drug addict. Didn't you watch The Wolf of Wall Street?
      -I keep thinking about entering the market, I don't know where to start. I guess I'll just have to think about...
      -I was trading, but I didn't make it. It's not my thing...
      -And if I lose, what do I say to my wife? I thought we were saving for new living room furniture.
      -I'm against consumption ideology. Capitalism is the root of world evil.
      -I don't want to take that risk. I'd rather put my money in the bank at 3% per year... It's not much, but it's safe.
      And I've heard that a lot. Even those who want to start trading and constantly ask me about trading, don't rush to start themselves. Most of the ""problems"" of all these people are fear. They are just afraid to start, because they don't know exactly what to expect from trading, and as a consequence - and a new lifestyle of a trader. But the main thing is to overcome your fear and start trading. Then it will be much easier.


      • #4
        The reason why it would be apropriate for you to consider forex trading in this year is becasue alot of other business opportunities have been shut down. The epidemic that has hit the world took out the economy by suprise. Within a matter of months most of the jobs had been closed. If you are stuck at home with nothing to do then you can join forex. The market has still been running even the the world situation. You are not limited by location or anything. It is al about how you trade and what you get out of it. If you plan on joining at this moment then you might not get good results because by now the market has been affected in a way. It is not as strong as it used to be.


        • #5
          I agree that forex can be excellent way to earn some side money. However, we would all agree that being professional trader mean several years of continuous experience and good trading strategy. Right?


          • #6
            The main perspective of Forex is that here you can almost always change the decision, but of course when you understand when it is most profitable and under what circumstances you can do it. Although it requires more serious analysis, it's worth it, because you can work with almost any volume (of course within the limits of reasonable), you can experiment more freely with different assets (which is more promising in our time, which is full of restrictions), but still do not follow these rules or assumptions if you feel that you do not see the prospects here. A lot depends on your personal preferences and characteristics.