Is full time forex trading good or bad? That’s the question some may
be asking themselves, however your results may quickly determine the
answer for you. This article sheds some light on some advantages and
challenges of full time forex trading. If you are going to do anything
full time, be it a full time trader, a certain level of application and
devotion is necessary. Full time in the modern sense of manpower also
averages out at about 40 hrs a week, generally 9 to five Mondays thru
Fridays.
You know the routine. Now if you immersed yourself in the currency
markets and are willing to take full advantage of the opportunity of
becoming a full time forex trader, then you’ve certainly arrived at the
right place. We shall offer some unique insight and perspective to help
you make an informed and well-thought out decision. Right off the bat if
you have to contemplate decisions about whether to become a full time
forex trader, you are need of some proper guidance.
Check out eToro,
known to be an industry leader by reputation offering an exceptional
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Some advantages of full time forex trading
aHigh
Leverage factor – This is a significant advantage of the forex for
numerous traders. Brokers will allow traders to make trades with up to
50:1 margin. Compare this to the stock market where the broker may grant
you 2:1 margin. With a rather little account you can control a fairly
large trading position in forex and when you have a winning trade, those
payouts can be huge and add up as well. Unfortunately, like risky
enterprises, high leverage also means high risk and we’ll cover this
when we talk about the cons of trading the forex.
Scalability Factor – One of the competitive
advantages of full time forex trading is that you have great flexibility
in position sizing. Most brokers allow you a range of options with how
to positon trades with a great degree of flexibility, especially
compared to the equities market.
Around the Clock Trading – A significant plus-
regardless where you live or what hours you work the forex market is up
and running. All you need is a computer and an internet connection and
you are set to go. You can trade! Check out the best trading platform for full time traders – eToro
Some challenges
High Leverage – The negative side of high leverage is high risk. If you want to win big, you have to risk big.
Around the Clock Trading – Just because forex can be
traded 24 hours a day doesn’t mean that it should be traded 24 hours a
day. In actuality, those markets move differently throughout the day: at
peak hours moves can be
No Centralized Exchange – Unlike the different
frameworks of stocks or futures the forex market has no centralized
exchange or some type of clearing house. Instead each broker acts as its
own exchange and the broker in effect becomes the market maker.
Competition – The major traders in forex are of
course, the largest financial institutions. They have full departments
staffed with highly paid traders and millions of dollars invested in the
best and most up-to-date trading software and hardware available on the
market today. For guidance and a powerful tools framework for success,
check out globally renown
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