Forex your second source of income

May 02, 2020 at 21:33
59 Replies
会员从May 02, 2020开始   2帖子
May 02, 2020 at 21:33 (已编辑 May 02, 2020 at 21:35)
Are you searching for the best investment? Have you ever thought to find a second source of income? Are you curious to learn more about Forex? In this article we will gather all the information you need to know about Forex trading and Forex market overall

Before really beginning to put your cash in the Forex market,you need to understand that you can trade in different products. The currency trading or FX can be the largest investment and a secure one. All currency trading is done as a form of pairs, also you can trade using virtual currencies like Bitcoin. As a beginner you need to start learning about the global markets before actually entering it. You can use the micro lots to start trading with it. And for small investor they can trade in micro or mini lots. Also you need to know about the factors that affect currency markets like stock traders, supply and demand, interest rates. So if you are planning to start trading in currency market you have to follow a strategy that suits the way you want to trade with.

Another way to trade is online stock , which allow you to trade in global markets using American and European stocks and international companies stocks as you can buy or sell a single stock based on the market price. The steps that will help you within online stock trading:
Choose the best strategy.
Educate yourself about the markets.
Choose an online broker.
Find the stocks you want to trade with.
Follow a plan.

Another market you can trade in is the crude oil. So if you are interested about oil trading you need to know about oil market ups and downs, starting from what moves crude oil market as the shrinking in demand lead most traders to sell, otherwise rising in demand lead them to buy more. Also there are two types of markets “Brent and WTI”. As well as you need to study the long term chart to understand how it goes inside this market.

Now the question is which Forex company that you can choose, there are many brokers that you can start trading through them, but you have to trust your broker and make sure that they will give you the full support and best advice to trade with.
会员从May 02, 2020开始   1帖子
May 02, 2020 at 22:03
I thought of trusting someone to manage my funds even as I learn.
So I would like you to introduce me to the best account managers
会员从Jul 12, 2019开始   24帖子
May 04, 2020 at 11:58
Before you start doing anything, you need to understand what you want to achieve. You must have a clear strategy in order to succeed. You can try to ''make a plan during trading times'', but it is not. Most likely, if you go this way, you will lose a lot. Today, most brokers offer a demo account, so you can start there and then go to real trading when you have a plan and confidence in your decision.
Thank you for pointing out several promising markets. But I am sure that in order to be successful, every trader must experiment and choose the best option on his or her own.
会员从Apr 10, 2020开始   10帖子
May 04, 2020 at 14:09
Forex is a good asset to get in to because the spreads are low, you can use leverage and there is market movement every day. This is what keeps me focused on Forex
会员从Aug 27, 2017开始   994帖子
May 04, 2020 at 14:31
may be i saw same post in elitetrader Forum , by the way i always try to take my first choice as Forex but failed honestly so many times.
会员从Apr 28, 2020开始   52帖子
May 05, 2020 at 10:18
Adribaasmet posted:
may be i saw same post in elitetrader Forum , by the way i always try to take my first choice as Forex but failed honestly so many times.

That why they say it isn't easy to make money through trading. had it been that easy all of us would have been millionaires. Sadly many of us are not able to put in all the required knowledge, experience ,hard work and skill that this field requires.
会员从Mar 03, 2020开始   12帖子
May 08, 2020 at 02:54
It's my second source of income since I'm a little bit affraid to go all in. I like knowing that tomorrow I will have a job and sallary at the end of the month. but that's just me. i got nice side income from forex so I'm not complaining tbh
会员从Apr 01, 2020开始   231帖子
May 14, 2020 at 00:39
Forex is the greatest way of income and it can become your main source of income but also it is very risky and if you are new and want to become rich quickly with Forex trading then it is not for you. First, learn it and then think about making money in Forex trading.
会员从Aug 11, 2017开始   886帖子
May 14, 2020 at 09:37
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.
会员从Jan 29, 2020开始   23帖子
Jun 21, 2020 at 15:03
I think that forex can become not only a source of additional earnings - it all depends on your desire, lifestyle and, what to hide, your financial possibilities, because good profits are usually provided by good capital...
会员从Jun 01, 2020开始   55帖子
Jun 22, 2020 at 07:50
Mohammadi posted:
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.

Yeah that's a good way to practice for beginners after they have demo traded for a while. Requires quite less capital and is good for beginners.
会员从Jun 24, 2020开始   34帖子
Jun 24, 2020 at 08:05
Its better as part time than full time for me, keeping the risk in mind. Can't totally depend on it for income purpose.
会员从Dec 26, 2018开始   34帖子
Jun 26, 2020 at 17:10
It is a pity that many people forget that this format of earning, despite its apparent simplicity, has many features and nuances that require detailed study.
Everybody wants to see a quick profit and without much effort, but as I have understood over the years, the market does not like rush and false hopes.
会员从Apr 25, 2020开始   119帖子
Jun 27, 2020 at 03:20
At this stage, forex is indeed an auxiliary source of income.
会员从Apr 25, 2019开始   26帖子
Jun 28, 2020 at 14:48
Yeah, I agree it's worth a try if you're at a dead end and you want to get to a new level of income. And if you take such a decision, you need to be well prepared for it - learn the basic concepts of the market, choose a pair of basic strategies and, of course, find a broker with an excellent reputation and reliable conditions.
会员从Feb 09, 2020开始   26帖子
Jun 28, 2020 at 16:01
One user there already correctly noted that success in Forex as an additional source of income depends on three things.
First, it's your free time, only if you have enough time, you will be able to devote it to trading and learning.
Second, it's your finances. No, with $100 you will not be able to enter the market and earn enough money, you really need enough money.
Three, these are your skills. They can be improved and trained, but they're still important and their mastering requires a lot of your time.
会员从May 13, 2020开始   128帖子
Jun 29, 2020 at 05:59
I try to speed up the moment when Forex will become the main source. And since Amarkets gives a good leverage, the profit is not bad.
会员从Jun 22, 2020开始   77帖子
Jun 29, 2020 at 07:32
Yes, I would say it is my second source of income with my job being the first one.
会员从Jul 19, 2020开始   34帖子
Aug 20, 2020 at 17:38
For me, Forex is the main income source. I make this business as my main earning source after trading 1 year in the market.
会员从Jul 19, 2020开始   298帖子
Aug 26, 2020 at 09:23
When you are skilled enough you can make forex trading as a primary source of income. Before that you have to depend on something else for your income so that you can pay your bills while you are learning the art of trading.
登录 / 注册 to comment
You must be connected to Myfxbook in order to leave a comment