Jump to content
  • 0
Sign in to follow this  
Sarah Parker

How to get started with Forex?

Question

1 answer to this question

Recommended Posts

  • 0

Hello, and thank you for asking! 

Like any other form of trading, Forex comes with certain risks and advantages. It is up to traders to decide if these are suitable for them, and their trading styles, and if so, how much of their capital are they willing to commit.

The biggest argument for Forex trading is the size of the market, and its liquidity, which means that you will be able to easily move into and out of position, thanks to the high liquidity and demand.

A big amount against Forex trading is leverage and high ratios of leverage present in many trades. Due to these high levels of leverage, there are high levels of risk involved, and when these risks take place in reality, they render many traders incapable of placing a trade ever again.

The next argument for Forex trading is its availability, which means that it is open for 24 hours a day, five days a week. The major centers are Sydney, Hong Kong, Singapore, Tokyo, Frankfurt, Paris, London, and New York, and due to their overlapping time zones, it is possible to be active for prolonged periods of time.

The final argument against Forex is that it requires extensive knowledge of currencies, their behavior, historical movements in order to be successful and turn a profit. Hence, it is important that you prepare and equip yourself with knowledge before you start engaging in Forex trading.
 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...