Work from home as a currency speculator
Work from home and be your own boss as a currency speculator. This is the dream situation for many, but most people still choose to stay out of a stout job.
Looking for a decent forex broker? Here's a list of currency trading platforms.
As a currency speculator and forex trader you must matter to dare to take bold risks, and follow your own instinct.
Trading is not a game. It can be fun, but you have to take a significant risk of being able to subsist on currency speculation.
Those who succeed are often extremely rich. Success in the foreign exchange market provides an opportunity to live luxury life, or just enjoy life without financial worries. There is no doubt that it is great to be a successful Forex trader.
Challenge is not only to achieve success, but to ensure success when you've come so far. It's not just the few who earn big money in the foreign exchange market, it happens quite often that beginners earn fat. The problem is that most people also lose the most left shortly after.
To successfully work from home as a Forex trader must have the discipline to sit well with what currency trading is all about.
Why become a currency speculator?
You can put the money in the fund. Over time it has been shown to provide a decent return on bank savings. The downside is that you are unlikely to get really rich if you let others manage your money. To become rich, you must do the work yourself.
In one study after another, we have seen that the self is most satisfied with their work. But why is it so nice to work from home?
- When you are independent and work from home will save you time. You do not put you in the car or on the bus to get to work. With a home office eliminates all called travel time to and from work, and time is money.
- You have no crappy colleagues or troublesome bosses to deal with. You can make adjustments to avoid to feel isolated, eat lunch with friends or fellow traders, outreach seminars and other social events related to work on a regular basis, and maybe find a partner.
- As an independent Forex trader, you do not have to deal with cranky customers / clients.
- Maximum freedom. The foreign exchange market is open 24 hours a day from Monday night to Friday night.
- Influencing own income. Everything you do will affect their own income. There is never no cap on how much you can earn.
You can start working from home today
To terminate the job may seem drastic. Currency Speculation allows a smooth transition from being an employee to becoming independent.
There is no need to quit your job to start with foreign exchange trading. You can take it one step at a time. The foreign exchange market is open on the day, evening and night on weekdays. Can you squeeze in an hour each day to explore the foreign exchange market is a good start.
As you look at your activities in the foreign exchange market is beginning to yield good results, you might consider stepping down to work, laid off you, or simply cancel the job. The threshold for success in the foreign exchange market intraday trader is high, but it is not impossible to succeed.
To start with foreign exchange trading now:
- Do not quit your job. You do not terminate the job or quit studies to pursue a career as a currency speculator.
- Experiments in the currency market. In the beginning there is more than enough that you experiment in the currency market on your own when you have the time, as you try your hand at some acting on select nights of the week.
- Choose your broker with a functional and affordable business solution. (We recommend that you use easyMarkets).
- Start trade, but first find out how much money you can dedicate to trading. Remember that trading involves risk and you should only use money that you are prepared to lose, even if the goal of course is to spend money to make money.
- Look at the result. Is it bad, try to find out why your strategy is not working. Is it good, you should also find out why the strategy works.
It 's not luck and bad luck in the foreign exchange market. The difference between a good and bad trader is that the good trader is prepared, while the bad trader is not.
Example: Trading foreign exchange and stocks
Stock trading is far from scary and difficult if you know what you're doing. Here we give a practical example of speculative trading in currency. The goal is of course to make money!
Besides knowledge about trading stocks, currencies, commodities or indices, there are 2 things you need to start making money on currency speculation, capital that you are willing to use for speculative purposes, and a power broker in which you can put in this capital.
Money: Let's say you have 5000 penny that you are willing to use for trading. Then we have the capital piece in place, you have money.
Power Broker: Let us further assume that you choose easyMarkets as your broker (our top recommendation). Then we have what we need to get started: a power broker and money we can use in this online broker.
easyMarkets is an interest free trading platform. It also means you do not have anything called commissions or hidden fees. You can buy and sell a wide variety of financial instruments by easyMarkets, including currency.
That easyMarkets is cheap is just one of many reasons why we recommend this trading platform. Here you can post limit for loss (stop loss), and levels when taking out profits (earnings limit). Moreover, you can add trailing stop - loss fortjenestelimits, to protect the earned profits. These are just some examples of what you can do with easyMarkets.
Example of trading stocks, currencies, etc.
You have to sign up with easyMarkets and you will actually get 25 dollars/euros for free so that you can test their trading platform free of charge and at no risk!
Via easyMarkets you can trade stocks, currencies, commodities, indices, ETF and CFD. Let us assume you want to trade stocks (example below could just as well have been for currency).
Studying the stock Google, and think it 's going to go down in value. Even if it goes down in value, you can make money on it. What you can do then is to "short " Google stock.
Shorter Google at $ 290, by buying 100 CFDs in Google. Close at Profit price will then be USD 280, and " Close at Loss Rate " is $ 310 This implies that you have sold shares of Google for the tidy sum of $ 29 000 Since the initial margin that requires the easyMarkets is 10 %, the USD 2900, and the maintenance margin (5%) is USD 1450.
In a few minutes I rise to $ 300 (when you lose money, since you have shorts), and you now have an available balance of $ 1100 and a balance of $ 4,000. You will then limit the loss of your "short " trade and closes the position. Buy Your order is realized to 300, and you lost $ 1,000 on this trade, and now has just $ 4,000 on your credit.
This example shows how quickly you can lose money in CFD trading. For the wake also shows you the upside of this type of trading. Here is the real opportunity to make a lot of money, and fast. The risk may be great, but there are potential profits as well.
No one should trade stocks, currencies, commodities, indices and CFDs without understanding on what this means.
The easiest way to learn
easyMarkets is a good choice for those who want to learn more about this, even to experiment in the real market. If you ask us, it's the best way to learn. In finance is no method is as informative as " hands on" methods. Learn by doing... In stock trading and currency trading, you learn as you go.
Check this out: Try your first currency trade for free here
Key to getting rich: Make money and re-invest
Making money and getting rich can be done in several ways. A leisurely option is to use the money you have to raise even more money.
Money can be a tool to make more money. This is an art form that is not at all understand. He who is able to save and put up some money, you can get a return in the form of bank interest rates or inflation in the housing market.
If you want return on their money, you can do so much more than just placing them in the bank or your own home.
Example, you can invest in their own business. Putting money in mutual funds, investing in stocks, or trade in currencies, CFDs, commodities, indices, and ETF is. The possibilities are many.
Stock market can achieve an attractive return. Warren Buffet was filthy rich to invest in the stock market, but to really get rich in the stock market you have to have some money to start with too.
Trading is a more intense way to spend money. Are you going to build you up quickly and with fairly limited trading capital is the best solution.
Risk can align yourself as a trader, but high risk also means the opportunity for greater returns.
The best way to start trading is to do the following:
- Figure out how much you can afford to lose (it's a possibility that the money invested is lost, and therefore should not risk money you really can not afford to lose).
- Put this money in your online broker. We have a good knowledge of various business solutions, and have listed the ones we think are the best here on this page (see the top of the right column).
- Experiment with small amounts in the market. Find out how you can make money in forex by trying it out.
- Using fundamental analysis - Observe how the news affects exchange rates and financial markets. This is the best way to learn trading at.
- Using technical analysis - use a trade platform me good technical indicators. easyMarkets is our top recommendation.
Become your own boss as a currency speculator
Looking for a job? Here's a vacancy that will be available until it is occupied by you: Be your own boss and starting as a currency speculator. It's not as drastic as it might sound.
Is flush with vacancies in the newspapers. Becoming own boss, independent and responsible for their own income is a dream many people have. However, it is not at all who dare to realize your dream.
Sentenced to an insufferable job?
To be employed by a company you do not own have both advantages and disadvantages. Too many roads unfortunately drawbacks up for benefits.
Common problems related to the workplace is as troublesome bosses, annoying coworkers, bullying, long journey, unfavorable working hours, work pressure, tedious tasks, for difficult jobs, poor wages... The list is long.
Trading can be learned
Opportunity to start a career as a Forex trader is open to all. You are not doomed to be in the job you are now in life. The education and jobs we have today is insignificant.
Basic skills such as being able to read and understand basic mathematics is a given, and a certain level of discipline must be expected. Beyond this, we would argue that anyone who wishes to learn trading.
Art of Looking into the future
Trading is the art of divining the future. But it is not magic or witchcraft underlying but fundamental or technical analysis.
Is the future unknown? Can know anything at all about the future?
No one can have knowledge of the future. What we have are assumptions based on Perception of past and reasoned us back to how things will develop.
Knowledge is knowing that sunrise today was at 6:10. What we can assume then, that the sunrise tomorrow will be about the same time. Astronomers can exact time when the sun will rise tomorrow, with a margin of error of only a few milliseconds.
Seismologists can give quite exact timing of when an earthquake - triggered tsunami will hit a given point, based on a set of calculations. We know that if A happens under certain conditions (earthquake off the east coast of Japan) will also occur B (tsunami on the east coast of Japan).
These are examples of how we can predict natural phenomena.
Predictions in financial markets
Although the future is unknown, it is possible to substantiate the various outcomes. There are many ways to do this, read on and become wiser...
Financial markets are also affected by natural phenomena (earthquake in March 2011 in Japan and the subsequent disaster affected financial markets around the world). The probability that shareholders sell shares (selling out for cheap) is imminent by natural disasters, we see that time and again, and speculators are urgently looking to short after a natural disaster, or picking stocks on the cheap.
Yet it is so much more than natural phenomena which are crucial for the development of financial markets.
An important point is that any financial market is controlled by the people, and that's when the psychology that prevails.
Long-term investments should look at the fundamentals. Is the company able to create growth. Is management fit to create increased revenue? How does the outlook for the industry? In which direction is the global economy?
In finance, there are two established ways of predicting the future:
- Fundamental analysis
- Technical analysis
Fundamental Analysis is an analysis of "everything". Man looks at the underlying financial instrument (stock, currency pair, etc), but in addition should also look at the macro level. Everything that relates must be included in the calculation. Macroeconomics as well as the smallest detail can be decisive for the future development.
Hvermannsen it is impossible to make a good fundamental analysis of a company or a financial instrument. There are too many factors that play into that as possible.
Technical Analysis is based on only two factors: price and volume. Because there are psychological factors that control the market, it is the human factor you need to focus on. A graph of price movements, such as intraday graph of the currency pair USD- EUR gives us key information about the market. Here is all the information about the market " boiled down " to a simple graph showing the trend.
Graph has formations, valleys and peaks. Trend lines showing which direction the graph goes in. Trading volume indicates the amount being traded at any time.
Bagrkunn of just price and trading volume information we can give a good analysis of future prospects. We can not know, but we can assume what will be most likely. There analyzing financial markets based on volume and price is called technical analysis.
We have now no knowledge whatsoever about the fundamentals. All we need to know is what the price is now, what it has been, and to which the volume has been traded.
This information can be found in commercial systems such as easyMarkets. Here's everything you need to learn about technical analysis. They have good tools that allow you to analyze the indexes, as well as individual stocks, currency and commodity derivatives.