My trading career started pretty early in life, when I was only 16 years old. I know many of us start this journey rather late or when we reach an age where we have too much spare time on our hands. Well, what can I say I was one of the more inquisitive one’s. If you are thinking did I start trading forex from the age of 16, well ‘NO’. I have traded many markets starting from equities to vanilla derivatives and from CFD’s to Bonds. Today with nearly two decades of part / full time trading experience I can safely say I have found the perfect beast which suits my personality. I like the challenges which forex markets throws at you as compared with any other market in the world. I like the fact that it is literally active 24×7. I find competing with the best brains in the business (BANKS) extremely challenging. The ability to have a best friend in the form of your own Expert Advisory is something that I cherish the most. Yet, the ability to make money just by applying simple concepts is extremely rewarding as well. I sincerely believe that forex trading is not for the ill-disciplined ones, or for that matter any markets in the world. Forex Trading is very simple if you learn to concentrate on the higher time frames and ignore the noise created by shorter term frames. It’s as simple as studying the top 8 economies of the world US, UK, Canada, Switzerland, Europe, Japan, Australia and New Zealand and comparing the best economy with the worst economy. Basically this means you sell the currency of the economy which you expect is going down in the short or long term and buy the currency of the economy which you expect is going up in the short or long term. A classic case in these days was buying the US Dollar and selling the Japanese Yen. Look at the charts from Jan 2013 till June 2013, you will know what I mean. Let’s talk about facilities which are available for trader or investors. This market is available 24×5 (if we ignore trading on the weekends), you can trade with any automated trading program you wish, you can apply all sorts of strategies right from High Frequency Trading to Scalping or Short term investing, you can get leverage as high as 1000x and spread as low as 0.0 pips, you can read about any topic in the world with the wealth of knowledge available around you, you can trade with any lot size, any capital size you wish etc. I can go on and on and trust me this list is endless. Somehow all this and much more makes forex as one of the most attractive markets in the world. But let’s face it all this comes at a cost. There are numerous stories of how people got burnt trading forex, brokers who are cheats, signal services which don’t work, no regulation and so on and so forth. This list is also endless but in which industry would you not face many of these problems? I can give you an explanation of why each of these things happen and who is at most fault, but that would spun this article to more than 10,000 words which is not the intention. We shall speak about it later. But I will leave all those with a thought who think forex markets are not for you – When you point a finger at someone else do you know four are pointing towards you. It is very easy to say I went broke, broker was a cheat etc. but did you ever wonder forex markets gave you the leverage it was you who misused it, there are many regulated brokers out there then why did you go with the less regulated ones in order to save a pip? So this blame game is endless, it is you who has to decide if forex markets are for you or not. If yes, welcome to the club and see you in the field.
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