The question would be not whether she could but rather would she enter the Forex trading market. The Forex day trading arena is a veritable snake pit ripe for scam artists to bilk money out of unwary investors. On the other hand, it is a forum for educated traders with the correct education, tools, and trading strategy to make a handsome income.
Becoming a successful Forex trader basically comes down to four things; 1) attaining the correct education, 2) using Forex tools which 3) use your own personal trading strategy, and 4) finding the correct Forex broker to fulfill your requirements. Let's look at these individually:
Attaining the correct education. Your Mother may not know the difference between a Forex PIP and one of the backup singers for Gladys Knight. So would you send her to one of those infomercial Forex riches classes to find out? We hope not! There are literally hundreds of training courses and materials out there for proper training. Word of mouth recommendations might be the best path to follow here.
Forex tools can also do many things like send trading signals and various buy/sell alerts to your desktop or mobile device based on what your personal trading philosophy dictates. Many of these tools are software based and some are provided via your favorite Forex trading sites. Not all people base decisions based on these signals though and use things like technical and fundamental analysis to determine when to buy or sell.
It also is essential to develop your own personal trading strategy. Your ability to assume certain risks might not exactly be what other traders or your broker recommends. A Forex trading strategy is not something generic and involves your personal game plan.
Before trading Forex you need to set up an account with a Forex broker. You may feel overwhelmed by the number of brokers who offer their services online. Deciding on a broker requires a little bit of research on your part, but the time spent will give you insight into the services that are available and fees charged by various brokers.
One of the most important ways to make the greatest return (and, also carry a greater loss risk) in Forex trading is with the use of a margin account. These accounts may let you trade as much as $100k in currency for as little as $1000. Margin accounts are the lifeblood of Forex trading, so be sure you understand the broker's margin terms before setting up an account. You need to know the margin requirements and how margin is calculated. Does margin change according to the currency traded? Is it the same every day of the week? Some brokers may offer different margins for mini and standard accounts.
Used correctly and together, the above items can lead to a comfortable part or full time income. If you don't use all the information available to you, though, you may as well let Mom take the weekend visit to Vegas with her money to see Gladys Knight. Make sure that she has developed her own Forex trading strategy and has used "paper trades" many times before actually beginning trading for real. Better that ole Mom is equipped to make some real money rather than throwing it away on the gaming tables.
by Wayne Watson
http://www.forexmarketexplained.com
Welcome!
You are at right place To learn everything About Forex And its Extensions. This is the place which every forex trader will love to visit again and agian
Labels
- about forex (1)
- Forex (28)
- forex benefits (1)
- forex broker (1)
- Forex Derivative (22)
- forex indicators (1)
- Forex Invasion (25)
- forex signals (1)
- forex strategies (5)
- Forex Trading (25)
- forex trading strategies (3)
- forex trading techniques (2)
- Forext Trading Tips (25)
- introduction (3)
who's online
google search

Custom Search
Blog Archive
-
▼
2009
(101)
-
▼
May
(37)
- Your Mother Could Make Money In Forex Trading
- FOREX 101
- Forex Trading — Opportunities for Individuals
- Shoes Or Forex?
- FOREX 101: Make Money with Currency Trading
- Internet Marketing VS Forex Currency Trading
- Reality of Online Forex Trading
- Introduction To Forex
- Forex Glossary
- Forex Market Offers Opportunity And Information
- How To Get Started In FOREX Trading
- Online Forex Trading
- Futures Versus Forex (Foreign Exchange Market)
- FOREX: What Is It And How Does It Work?
- The Benefits of Trading The Forex Market
- Introduction To Forex Trading
- Forex Enterprise — A Full Review
- Forex Trading
- Forex Avenue: The Road to Riches
- Why Trade the FOREX?
- Explosive Profits: 7 Reasons to Trade Forex
- Forex The Future Investment
- Investing in Forex
- Advantages of the Forex Market
- Forex Brokerage
- Forex Trading Psychology
- Money Management in Forex
- Forex Technical Analysis
- Forex Fundamental Analysis
- Forex for Dummies
- What is Forex?
- Forex Trading Information
- The History of Forex
- The 1970's United States Currency Policy Meltdown
- Today's Currency World
- Pre-Currency Trading Era – The 1950s
- New Rules of Currency
-
▼
May
(37)
0 comments:
Post a Comment