Train 1 on1 continues to bring us our new series on Forex and how to trade forex and get the education to do it the right way.
All sorts of people are looking at ways to invest their money for greater returns. This is especially true for those looking for extra income, looking to grow their retirement savings, or even those looking to set themselves up for financial success. While stocks and bonds are the traditional ways of doing this, these investments require holding them for years to be able to really create the kind of return that benefits the average investor. One of the newest financial markets offers returns on far shorter time frames. Forex or foreign currency exchange is the trading of currencies from global markets around the world. Forex, for the retail investor, is one of the newest markets that offer great returns without waiting years.
How Does Forex Work?
Forex is the speculative trading of currency pairs. There are a variety of currency pairs based on floating currencies from major markets around the world. Trades can take place between the US Dollar and over 16 currencies and between all those currencies too. A forex trade can be between the Japanese Yen and the Swiss Franc or the Euro vs. the Australian dollar. Forex valuations are based heavily on economic factors, political factors, the news, and simply supply and demand.
Education and Platform
As you can imagine, trading forex is not easy. An investor must understand the underlying economic data in a given country and the long-term trends of a given currency that they are trading for or against. Traders must also understand when to get in and out of a market for maximum profitability. Because the forex market is so hot right now, there are so many platforms available for trading forex. However, not all platforms are created equal. A good platform should be simple and easy to use. Many platforms don’t offer education for new traders and some only offer dry videos. That is no way to get started in forex. The best way is to work with experienced traders and there are not many platforms that offer that kind of training.
Getting Started in Forex
The best way to get started in forex is with some simple education. There are a variety of charts to learn how to read and traders need to learn how to set up a basic trade and find a trade with some potential. Rather than watching a series of videos or trying to find advice on youtube, new traders are better served with mentorship. Platforms that don’t offer mentorship aren’t doing their traders any favors in navigating the complicated forex markets.
Train 1 on1
Forex is the newest market but that also means that education is essential. If you are interested in increasing your income and owning your freedom then you should consider Train 1 on 1. Train 1 on 1 offers personalized, individualized training for new investors. If you want to trade forex and learn how to do it in a holistic way from experienced traders, then visit Train 1 on 1.