If someone asks you, “Why do you choose to become a forex trader?” What do you think is your answer? Oh yeah, of course, there are many reasons why you now choose to become a forex trader. From rational reasons for personal reasons, which are sometimes not very rational
- 1 The general reason for choosing forex trading as a profession is
- 1.1 1. Forex trading can be done anywhere.
- 1.2 2. Can Buy and Sell Anytime.
- 1.3 3. Forex trading presents two-way profit opportunities.
- 1.4 4. Forex Market Open 24 Hours Non-Stop, 5 Days a Week.
- 1.5 5. Forex trading can be used with minimum capital and low cost.
- 1.6 6. Learn And Forex Trading Exercises Available Free.
The general reason for choosing forex trading as a profession is
There are several reason, why so many people choose forex as one profession even as part time or full time business, these reason is explained below
1. Forex trading can be done anywhere.
Currently forex transactions can be done through online, with computers, laptops, tablets, and smartphones, just by clicking on the trading software provided by the broker. And more the speed and cost of the internet that currently getting cheaper, overall the cost of being able to trade online forex is very small and affordable. This is several advantages of one forex trading.
2. Can Buy and Sell Anytime.
According to data from the Bank for International Settlements (BIS), an institution that houses global banks, the forex market has very high liquidity reaching an average of $ 5.3 trillion per day. This makes the forex market the biggest market in the world, even when compared to the famous stock exchanges in the United States though.
Because of the large availability of funds in the forex market, whenever you want to sell, there will always be buyers. Likewise, vice versa, whenever you want to buy, there will always be sellers. There is no queuing system like in stock trading which often requires sellers/buyers to wait several hours to days for someone to agree on the price first.
3. Forex trading presents two-way profit opportunities.
Forex trading is done in a currency pair. For example in the EUR / USD pair: “buy” transaction means buying Euros while selling US Dollars, while “sell” transactions means selling Euros and buying US Dollars. When estimating the Euro will weaken and the USD strengthens, traders will open “sell” trading positions. Conversely, when estimating the Euro will strengthen with the USD weakening, the trader will open a “buy” trading position. Thus, forex traders can benefit, both when a currency weakens and strengthens.
In addition, the advantages of other forex trading are that it can be done in various currencies around the world, so we will not run out of profit opportunities. Although, traders generally trade seven major currency pairs only: EUR / USD, USD / JPY, GBP / USD, NZD / USD, USD / CHF, AUD / USD, and USD / CAD.
4. Forex Market Open 24 Hours Non-Stop, 5 Days a Week.
Other financial markets such as stocks usually only open according to normal business hours between Monday and Friday. However, the forex market is open 24 hours a day, only on Saturdays and Sundays, the market closes.
That is, as a forex trader, you will be able to set your own trading hours. If you prefer to work in the morning because you have another main job; it doesn’t matter, you can trade forex at night. Or vice versa. You can trade forex during the day when you have busy working at night. Or if you want to specialize only trading at the most profitable times, then you can look at the best forex trading time and time
5. Forex trading can be used with minimum capital and low cost.
In forex trading, there is a margin and leverage system. The margin and leverage system allows forex brokers to “lend funds” proportionally to the guarantee of funds provided by traders. For example with a leverage of 1: 200, then the trader simply gives a deposit for the margin of $ 100 only so that it can trade with a power of $ 20,000 (out of 100 multiplied by 200). This margin and leverage make forex trading does not require large capital.
Now some brokers offer a low deposit of at least 10 $ there are also 1 $, in addition, business competition between brokers also makes the trading commission fees that traders must pay to be lower and competitive. Technological advances give us the freedom to choose forex brokers with the lowest trading costs and the most advanced trading software facilities as we connect with the forex market.
6. Learn And Forex Trading Exercises Available Free.
There is another facility from the broker in the form of a demo trading account. With this system, we can learn and practice exactly like real forex trading, but regardless of the risk of loss. How come? yes, because the funds used are virtual or just toys and this facility is also provided free of charge by forex brokers. So, if you lose you don’t need to change money, even if you win you can’t cash in. This demo account is intended for beginners who want to practice and study first before plunging into the world of forex trading.