I am a part time Forex trader and this is what I do in addition to my other extra jobs to feed my family, pay my kids’ school fees, foot other bills in the house and after all that, I am able to save some for major projects like our family house project as well as a planned trip outside the country some time later in the year.
Let me start by saying that I tell my friends a lot about the need to have multiple streams of income, especially in hard economic times like we are experiencing now. It is the most efficient way to build wealth and live a happy and fulfilled life. Researchers have discovered a common trait among millionaires; and that is on the average, they have not just one, but several streams of income.
What is Forex Trading?
Forex trading is essentially the buying of one currency and the simultaneous selling of another at a particular price and time. Therefore when trading currencies we will always see them quoted in pairs.When placing a trade we are speculating on which currency we believe will become stronger or weaker against the other with the goal of making a profit from these movements in the foreign exchange rates at various times. Successful traders approach trading as a business and not a hobby.
What is Forex Trading Signals?
Forex signals are, essentially, trade ideas indicating the market trends in real time. Trading signals are used by novice and professional traders alike. Most forex signals include the position type (buy or sell)Take Profit and Stop Loss Targets.
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What is a Forex broker?
Forex brokers are firms that provide currency traders with access to a trading platform that allows them to buy and sell foreign currencies. A currency trading broker, also known as a retail forex broker, or forex broker, handles a very small portion of the volume of the overall foreign exchange market.
If you need a very good regulated broker that is regulated then I recommend IC markets to you.IC markets have the best spreads in the market compared to other brokers. They also have fast withdrawals when you want to withdraw from your trade profits. Their customer care is very good. You can sign up by clicking here.
DISCLAIMER: This article is for educational purposes only .Trading contains substantial risk and is not for every investor. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital that should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.