Forex Currency Trading -A Viable Business to Work from Home?Probably, most people who work from home, especially those who spend time online, will have considered (or at least been made aware of) the possibilities of trading currencies. Very quickly it has become one of the most aggressively hyped and marketed home-working activities.
Until recently, forex trading (short for foreign exchange trading) has been for the big players only. But now it is very easy for the individual to gain exposure to forex markets. Very often this will be via spread betting (where the trader bets on the movements of a particular currency cross, e.g. GB pound/ US dollar), or by trading ‘lots’ using an online trading account. The new found ease of forex trading has brought an ever-increasing army of people who are keen to sell associated services such as trading accounts and forex trading education.
The attraction of forex trading is high: if you can devise or learn a consistently winning strategy then the financial rewards are high. Indeed, a successful trading strategy has been likened to a ‘money tap’.
However, financial trading, whilst offering potentially huge gains also places the inexperienced trader in very dangerous waters. If a particular deal moves against the trader then the very mechanics that offer the large gains can actually bankrupt a novice (in fact the risk of bankruptcy is not just reserved for the novice).
What if, in spite of learning of the risky nature of forex trading, it still appeals? Well, a little knowledge is certainly a bad thing. So too is spending too much on learning. It is very easy to be tempted by the claims made by various course or seminar providers. But, think very carefully before parting with the extortionate amounts often asked in exchange for knowledge you can get elsewhere.
No comments:
Post a Comment