People generally have many questions when they are presented with something new, especially when it is related to their money. The following are questions that homemakers frequently ask regarding forex trading and forex trading signal service:
Q1: Is forex trading safe?
A1: Trading forex is of course safe. The reason being because today more and more country regulates forex market quotex login and they put in force strict rules that every forex broker must follow. As a result, we find that only the good brokers stay in the forex trading industry. On a personal level though, it is up to you to determine the safety of your account. If you trade recklessly then you will find that your capital will drain rapidly. Sometimes it is faster to lose money in forex trading than in casino. Therefore, you need to prepare yourself mentally and find lots and lots of knowledge or you can choose to go with hiring a good profitable trader and become a member of his trading signal service. The latter is by far the faster, easier way to trade forex if you have limited or no knowledge about forex at all.
Q2: Can a homemaker realize your aspirations in forex trading?
A2: Of course, you can realize your aspirations in forex trading just like other trader. Everyone who trades forex have the same opportunity. In fact, homemakers have an overabundance potential to succeed because they have the most flexible schedule and needless to say, they have more time at their removal than any other newcomer in forex trading. Homemakers usually develop the ability to do multitasking and this is the number one reason they can manage hectic days without a hitch. And actually, people can multitask forex trading anxieties they know how to do it. First of all, they need to find a genuine forex trading signal service and become a member of it. Second, just do the things they usually do day in day out. Homemakers don’t answer to any boss for them to use their time in any way they want and do the tasks they also want as long as the finish the tasks. This is why homemakers have the most potential to succeed if they know how to manage their abundant time.
Q3: Do I must have experience in international finance to start trading forex?
A3: If you decided to trade forex with your own personal might then you need to go through the learning blackberry curve. However, if you join a trading signal service you should not have any experience in trading at all. This is why assisted trading is deemed the easiest way to participate in the forex market. Assisted trading is a term used to describe trading using the assistance of a trading signal service.
Q4: Can someone who only graduates from high school trade forex?
A4: This answer is of course, yes. All you need to do is to find good trader who consistently make the most of the market and pay him to let you know what currency pair to trade, when to enter the market and when to exit. If you are simple enough to let someone professional help you then you are fine.
Q5: What do I must be successful in forex trading?
A5: You’ll want a strong commitment, willingness to learn things and vigilantly update your knowledge or information. Most people fail because they don’t have a strong commitment from the start. Also, many people just don’t have the correct type information or knowledge.
Q6: Do I must have a high-tech computer?
A6: Absolutely not. You should not have a computer that look like Star Make your way or any other strange spaceship. A computer with 512 RAM, Pentium 4 2. 67 Ghz, 80 Gb hard disk drive and windows xp will do for you to be able to trade forex. However you need to know that it is important not to open multiple programs that consume a lot of resources from your computer or heavy program while you are trading forex. In nature, forex software such as Meta Trader 4 (commonly abbreviated as MT4) is very light and does not require computer with high specification.
Q7: Do I must have a high-speed internet to trade forex?
A7: Well, it depends the amount you mean by high-speed. Generally, an internet connection with 512 Kbps or more is already enough. It doesn’t really matter whether your subscription is DSL or cable. However, you need at least 1 Mbps if you want to incorporate scalping method in your trading because some scalping methods require you to trade using a time frame lower than 1 minute. Moreover, scalpers usually trade during active trading hours (session overlaps or session open). Nonetheless, scalping is not a trading method anyone can use. Also, it is important to note that while trading using wi-fi is not prohibited it is far safer to trade using wired internet connection. The reason being because internet connection loss is rare if you are plugged with a cable rather than using wireless connection.
Q8: What is the best forex broker out there?
A8: Most of today’s brokers are good because of the increasing number of regulations that swept the forex trading industry. The list is long but there are paths that you can follow to determine which broker is the best for you. You can go for a forex broker that has a presence in your own country because this will reduce the cost of transferring fund to and from your trading account. You can go for a broker outside of your country if you are looking for features that your domestic broker doesn’t have such as higher leverage or the ability to hedge or trade CFDs. Lastly, you can go for a forex broker based on the spread they offer. For whatever trading conditions that you require in a forex broker you will most likely find the broker that will suit your need.
Q9: What quantity of cash do I must have to start trading forex?
A9: The first thing you need to remember is forex trading is a business and as with any other business it requires a good business plan and enough capital to start. You have to keep reality in check , nor expect you’ll enter the business with $250 and turn it to $1 million in a year. Sure, there are people who can make it but certainly not everyone. Generally, a sum of $10, 000 is good to start with but many people usually start with as little as $5, 000. 10% monthly return on a $10, 000 account is $1, 000 and it is $500 on a $5, 000 account. Of course, with a solid trading plan, a good forex trading signal has the potential to drive more than 10% per month. However, consistency is what you should seek. If you can make 10% per month consistently you will see that your money will grow to a staggering $309, 126. 81 in 3 years. What a growth of 3, 091%. so as you can see, 10% is actually great over a course of 3 years. Stick to the purpose of 10% per month and you’ll experience the benefit in no time.
Q10: What is the best way to trade forex?
A10: To be brutally honest, the best way to trade forex is by subscribing to a forex trading signal service. Why? The reason being you still have full control of the account but you don’t really need to do the entire task needed to be done in trading. This solution is the best because it is practical especially if you are new to forex trading and know little or nothing about forex trading. When you have more experience you can trade by yourself and in the long run, this is the best way to trade forex. However, it will last time to learn the ropes and build your confidence and gain experience. Moreover, you need to consider the costs that will incur by buying trading literatures. Overall, your costs should include time, effort and money. So the wise decision to make is to become a member of a forex trading signal service first and learn how to trade forex properly at the same time.