Is Forex Day Trading Legit? And If So How Profitable Is It? | All About Money Online

The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover.Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with USdollars, or you sell Japanese Yens for Canadian dollars. That’s all. How does one profit in Forex? Very simple and obvious: buy cheap and sell for more! The profit is generated from the fluctuations (changes) in the currency exchange market. The nice thing about the FOREX market, is that regular daily fluctuations, say – around 1%, are multiplied by 100! (in general, Easy-Forex™ offers trading ratios from 1:50 to 1:200). If, for example, the exchange rate of “your” pair of currencies increased by 0.6% in the last 4 hours, your profit will be 60% on your investment! Such can happen in one business day, or in a few hours, even minutes.

This paragraph of the article just shows how profitable it is. VERY profitable. But this ain’t the way to ‘get rich overnight.’ It requires A LOT of hard work in figuring out your own strategies and how to deal with possible losses. Forex trading is legit. But a warning that there are a lot of forex scammers out there. Check out the links below, especially the articles in the forex resources section. Its very helpful.

Popularity: 1% [?]

Related posts:

Ilya_Perevalov
Rate author