People usually become skeptical when they are uk forex trading confronted with something new, especially when it relates to new business opportunity. They quickly raise their barrier so high that often led them to ignore great opportunities. If they are willing to open their mind they will see that there really are great opportunities that can make money for them. Forex is no doubt the most exaggerated online business on the internet and other media. Unfortunately, it is also the most misunderstood type of business. Now, the following are questions that homemakers frequently asked regarding forex trading:
Q1: Can I really make money from forex trading?
A1: Sure. In fact, everyone can make money but only if they want to. There are real-life stories of how homemakers succeed in the field of forex trading. Just Google them and you’ll find those true stories. This is of course, with the premise that you have the right guidance (knowledge and information). If you plunge directly into the forex market your capital will be swallowed in no time, no doubt about it. Forex trading, when done correctly, can provide enough money to support your life and even to the level that one can leave his/her day job. However, it will take time and hard work to get there so this is not an exaggeration at all because it happens every single day to ordinary people. Usually they start with small capital and gradually build the account to a comfortable size that allows them to live their life from forex trading. Nonetheless, there is also another type that starts with big account but also already equipped with right information and training.
Q2: Is forex trading very risky?
A2: Every business is risky if you don’t know what you are doing. That is common sense. In the offline world 5 out of 10 startup businesses failed during the first five years and then 3 out of the remaining five failed in the next five years. Those numbers came from a research and they are included in today’s business books. Now, forex trading is just another form of business that you can do online without the complexity of building your own factory or setting up outlet or picking a great location. You also don’t need to worry about the cost of making great product or the expenses to keep the business running (most families already include the internet cost in their monthly expenses). In terms of business risk, forex trading today is not the same as forex trading 5 years ago. Over the last few years, law makers in various countries enforced various domestic regulations to keep traders safe. Of course, there are some rules that existing traders don’t like but at least the governments ensure the longevity of the forex trading industry in their own country. Forex trading will become risky if you adopt gambling-style trading. If you at least spend some time to learn how to trade or know where to subscribe to a profitable trading signal service you don’t have to worry about the risk. So in essence, not knowing how and what to do is the real threat in forex trading.
Q3: How long do I have to learn before I can start making money from forex?
A3: You can choose to spend anywhere from six to twelve months for learning and training and honing the skills or you can go straight from knowing nothing to making money. There are DVDs or home courses that you can buy for $1,000 to $3,000 (the really good ones) and also there are online academies where you can enroll to become a student. The learning stage can be short but the mastery of forex trading will take much longer because you need to encounter various market conditions in order to gain enough experience in the market. However, as mentioned before, there is another path that will allow you to make money first without having to master forex trading. This will be discussed later.
Q4: Does my educational background matter?
A4: Educational background doesn’t really matter in forex trading because number (price) is someone with only elementary degree can read and understand. The rest of the knowledge in forex trading involves the understanding of human behavior. As a matter of fact, forex market is filled with people from various educational background and profession. There are retirees, there are fresh graduate, there are doctors, factory workers, housewives, and many other. The most important thing is you must be willing to learn how to run this business properly. If you want to do it yourself, you must equip yourself with proper education. If you want to use the assistance of forex trading signal service, you must find a genuine forex trading signal service that has a track record of being able to deliver profit to their clients. In other word, you don’t need to worry if you know where to start and what to look for.
Q5: Is there a safer/easier path to making money in forex trading?
A5: Actually, there is. The safest way to make money is to see where those who are constantly making money place their orders (buy or sell order). To be brutally honest, there is nothing easier than this. It is like cheating during exam. You sit next to the genius in your class and see his sheet. However, this is actually not cheating in the trading field and it’s considered 100% legit. Of course, to be able to do this, you must compensate the trader for allowing you to see where he enters his trades. That kind of service is widely known as forex trading signal service. When doing this, of course, you must make sure that you are subscribing to a profitable trader. Go with someone with a proven track record not with someone who boasted 10,000 pips per month or 5,000 % in a month. They are too good to be true and most of them can’t deliver their promise over the long run. Consistency is the most important keyword in the trading world and this is what you should be looking for.