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There are dozens, if not hundreds of trading courses available. Many of them do a good job teaching the basics of trading stocks or futures; however, there are very few courses specifically designed for currency trading. If you want to make money trading (and of course you do), there are many compelling reason to choose forex, as it provides the ideal market for active traders. Consider the following:
24-Hour Market
The Forex market is a seamless 24-hour market. At 5 PM Sunday New York time, trading begins as markets open in Sydney, and Singapore. At 7 PM the Tokyo market opens, followed by London at 2 AM, and finally New York time at 8 AM. As a trader, this allows you to react to favorable/unfavorable events by trading immediately. It also gives traders the added flexibility of determining their trading day.
Ability to Profit in Up or Down Market
Unlike the equity market, there is no restriction on short selling. Profit potential exists in the currency market regardless of whether a trader is long or short, or which way the market is moving. Since currency trading always involves buying one currency and selling another, there is no structural bias to the market. This means a trader has an equal potential to profit in a rising, or falling market
Commission Free Trading
Most forex brokers charge no commissions or transaction fees to trade spot currencies exchange online or over the phone. In the equity market traders must pay a spread and a commission. The over-the counter structure of the forex market eliminates exchange and clearing fees, which in turn lowers transaction costs. Costs are further reduced by the efficiencies created by a purely electronic market place that allows clients to deal directly with the market maker, eliminating both ticket costs and middlemen. Because the currency market offers round-the-clock liquidity, traders receive tight, competitive spreads both intra-day and overnight. Equity and futures traders are more vulnerable to liquidity risk and typically receive wider dealing spreads, especially during after hours trading.
Perfect Market for Technical Analysis
Currencies rarely spend much time in tight trading ranges and have the tendency to develop strong trends. Over 80% of volume is speculative in nature and as a result, the market frequently overshoots and then corrects itself. A technically trained trader can easily identify new trends and breakouts, which provides multiple opportunities to enter and exit positions.
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