Doesn’t that sound romantic? Are you in love with forex trading?
When you are away from charts and screens, you feel restless. You want to get in touch with your forex account again and again. Is it normal?
Yes, it is. This happens when you are passionate about something. Like me, I am in love with forex. I can’t live without it.
If you want to hear why I love Forex? Then keep on scrolling.
Forex is my love because it’s my passion. I love to chase my dreams by earning profit through trading here. I know this financial market has the potential to make my trades profitable if I act sensibly. I love this even though I lose money here. It’s enjoyable.
Remember love of forex has limits. It’s far beyond addiction. Think twice before loving this financial war, you can’t blame anyone for your loss. You have to take the responsibility of failure yourself at the end.
Top 6 Reasons That Why I Love Forex Very Much
Why do traders love trading forex?
There are so many reasons that make forex a lovable trading platform. First of all, traders can start a trading journey at a low cost. Secondly, forex is a highly liquid market with a high potential of making a profit. Finally, this financial market is 24 hours open for traders.
Below are 6 reasons for my loving forex trading so much:
1. Starting Cost Is Low
The major reason for becoming a forex trader is that the starting cost of trading is very low. You can start trading with just $1. Many brokers allow traders to open micro accounts with $10, $25, $50, or $100. Although, they can’t make a huge profit out of the low investment these micro accounts are a good way to learn to trade.
2. Forex is 24hrs Open
Forex market is always ready to serve you. It opens on Monday with Australia time and ends on Friday with New York time. The time zones of different markets overlap. When the Asian market closes, the eastern market opens. That’s why it is open for traders most of the time.
3. Forex Market Is Highly Liquid
Forex market shares a high volume of transactions daily. That’s why it is highly liquid. This makes it full of opportunity. Trillions of transactions are daily done with a single click.
4. Variety of Trading Tools
To make trading easier, a variety of trading instruments are available. Traders can trade using these instruments with seven different major currency pairs. Traders should stay updated on the financial and economic news of different countries.
5. Get Start with Low Commission Brokers
You can start your trading journey with low-commission brokers. Many brokers charge spreads. Some brokers charge a fixed spread, while others charge a variable spread. This makes forex easy to trade and lovable to traders. Deriv broker also a good UK-regulated broker you can check out.
6. Trading Is Passion
I love trading because it’s my passion. I can’t live without trading. However, it does not mean that I am addicted to forex. I take intervals also when I am not in the mood of trading and when the market goes against me. So, loving trading does not mean I am obsessed with trading.
How To Start Day Trading With $100
The good news is that you can start Day Trading with $100. All you need to get started is to learn trading first. Spend a few months in practice on a demo account. Follow the steps below to get started:
- Do research to find a broker
- Open account with the broker
- Choose securities you want to trade
- Focus on effective strategy according to trading style
- Start trading
Should I Quit My Job for Trading
Is it the right decision to quit my job in favor of full-time trading? It depends on your skill level, consistency, and trading psychology. If you think you have enough money aside to bear your kitchen expenses, you can quit your job for trading full time.
It is advisable to do a part-time job along with trading if you are a fresh trader. When you arrange enough capital to cope with your losses you can go for full-time trading. However, if you arrange capital through the loan you will be under pressure throughout your trading journey.
Is Day Trading a Good Career
Yes, Day trading is a good career choice. You can enjoy the freedom of work. However, forex itself is risky. There is no guarantee that each day will be profitable. Trading as a career is good for those who have an alternative source of money.
If you have some extra money aside you can trade stress-free. Peace of mind is necessary to trade freely.
Day trading may not be a good career choice for many traders. If you are consistent, have enough nerve control, and are patient, you can become a day trader. So, decide carefully.
Sitting in front of a screen and playing with numbers is not a game for everyone. If I say that I love trading I should be ready to sacrifice my greed, fear, and temptation.
Love needs sacrifice. The love of forex is not free of cost. It may risk your investing capital. It’s DO or DIE love Indeed.
Interestingly both the do and die situation in forex is in your hand. It’s you who decides to lose and it’s you who decides to win. So, be smart!