What better time than now is there to have multiple income streams? Even small ones that are not directly attached to an ongoing time investment. There are countless methods to invest your money and make this possible.
In this blog, I am going to speak about just one of these choices. It is the foreign currency exchange market or commonly known as FOREX. If you have tried it and failed or even succeeded, this blog is for you. If you have already made your assumption based on someone else experience this blog is for you. If you have no idea what I am talking about, well this blog will probably suit you pretty well too.
Firstly what is Forex? Forex is the largest financial market in the world where a volume of over 5 trillion dollars is traded daily. Anytime you exchange your money when going overseas on holiday or if you buy something online in foreign currency this using the foreign exchange market to do so.
The reason it’s awesome is it’s unlike the stock market or shares given a few unique advantages. Currencies are trades in pairs meaning it is a zero-sum game. When one is down the other is up and therefore you don’t experience a crash when you’re trading both ways. This also makes it totally recession-proof and in fact even better because its the volatility the creates the opportunity in making the returns.
The difficulty with trading FOREX and why so many people say it’s such a high-risk form of investment, which it absolutely is, is for two reasons.
The first learning to read the charts. This is insanely difficult! There are many great education programs out there that specialize in teaching Forex. But this will take years to master and those that are considered as masters only have a slight edge that allows a marginal difference between winning and losing trades to create profit. Its also worthy to note that all humans are known for making mistakes too.
Second and even more importantly, when it comes to money and finances, humans are greedy and emotional. Rather than following what is taught and correctly reading the signs presented on the charts. Rookies will almost always fall into the trap of overexposing themselves to risk to get rich quick – this is known as gambling and tends to follow the same result as visiting the casino. It is also pretty common to see the average trader following a buy and sell pattern that loses money over time.
So I understand why you either have the assumption you do or you have never heard of it as being a viable option of investment before. Well, let me show you there is another way that takes care of both these problems.
How do you think the major banks and hedge funds have been so profitable with your money? It’s certainly not through the interest you pay your low rate mortgages or even credit cards for that matter! They have been using technology that has been around for a number of years already that uses algorithms and artificial intelligence to do the chart analysis 1000s of times per second recording all the data required to better predict the market fluctuations. As with any computer or calculator, it processes data faster and more accurately than any human can do.
So what that now means and why I love this technology so much is that we have access to such an amazing style of investment without years of learning through losing money. And once the trading parameters are set each week for the market open, I can be as emotional as alike with ups and the down of the charts knowing that the system has got my best interests in mind to win. And the best part is it takes less than a couple of 20-minute sessions each week to keep going.
Now the disclaimer; of course, FOREX through using trading software is not without risk. If you have a zero-tolerance to risk, please simply leave your saving in the bank and be guaranteed to lose on it per annum guaranteed through the cost of inflation!
The idea of this style of FOREX trading is to make very small incremental wins over long periods of time – please study the power of compounding interest. This might look like 1 or 2 percent per week for example on average after you have taken an odd loss away. This is not a get rich quick approach to come and set it up to make a 20% gain over a week. Whilst it might work a few times, you WILL lose in the long run. Just go to the casino instead, please.
So if this blog is even kind of making sense to you and something of interest, come and check our live Facebook community here. This is where we all share our weekly results and information on whats going on. There’s no cost to take part in our community or the training available, but of course, if you do want to start trading well you will need to supply your own capital – we cant give you that!
Check out the community results for yourself and get involved through the links below