Is Forex Business the Real Way to Wealth? List Of Benefits
25 / February / 20 Visitors: 181 ★★★★★
Forex business - what is it and how real is it? In this article, we will consider 2 options: Forex business from the point of view of a trader and partner (business owner, a person who attracts traders and other partners through a referral link). Let's start with the usual trading.
Just making money on currency pair fluctuations, a Forex trader is an ordinary speculator - he bought cheaper, sold more expensive and vice versa. That is, this is mental work, a game of intelligence, but not a business or a passive income. On the other hand, there are various trading strategies - not all traders are “owls”, who have been waiting for hours at the monitor for a good moment to enter. There are scalpers who worked an hour or two and closed the terminal, calculating the profit. There are long-term traders who can open a deal once a day or once a week. In other words, trading is not necessarily a job in its usual sense. Most likely, this is an opportunity to make a profit with pleasure, giving trade minimal time - that is, almost a business.
Profitability and currency dealing capabilities are equal to or higher than the similar characteristics of a “real” business. What are the benefits of forex opportunities, say, private enterprise?
● minimum starting capital - even $ 100 for a start will be enough. For an emergency, you need from $ 1000, and often much more.
● work from home or office - any place where there is Internet access.
● you do not need the staff of employees who need to be controlled.
● no reporting needed - at least in such volumes as for emergency situations.
● there is no physical product that can deteriorate - the trader operates with virtual currency, earning real money.
● The profitability of trading can be from 10 to 100% per month or higher. Even a stable 10% per month is better than unprofitable months in a state of emergency when there is no sales of goods.
● Forex does not have a “vacation”, the markets are liquid 5 days a week all year round. The exception is 2 weeks before the New Year and a week after when liquidity drops and brokers raise the spread.
At the same time, the trader is not required to constantly be in the market. You can take a break, leave to relax or take time for yourself or your family. A private entrepreneur is often deprived of such an opportunity - he should “plow” the season as much as possible so as not to starve later.
● Trading can always be postponed to return later. Yes, the markets will change a little, but the strategy will work if it has been profitable before. An emergency does not have such an opportunity - either we are working now, or we are closing everything.
● Leverage increases potential profits.
As you can see, the advantages of trading over small businesses are obvious. The point is small - to trade in a stable plus. That is where many stops. The reason is the lack of long-term planning, determination, perseverance to work on the result.
We briefly looked at forex trading in terms of forex trading. This approach is cost-effective and attractive on all counts. Think what you like best - hard work, sleepless nights in front of the monitor, sore eyes and strained nerves? Or a stable profit from attracted traders and half an hour or an hour to trade with a small but constant profit? Drop the blinkers from your eyes and revise your goals. Everything is possible - and many smart people have already set up their Forex business. This is your life. Go for it!
Remember that the profitability of trading very much depends on the broker you choose!