Forex day trading is lucrative... You can make a lot of money trading this fruitful market, there is no doubt about that, and the opportunity is available and ready to be had right now.
That said, for all the fruits this market is able to bear, there is plenty of risk that goes along with the prize it has in store. While the risks can stack up quite high, the profit potential is far too lucrative for an educated investor to turn his or her cheek and not invest.
In my own case, I've tried to forget about the forex market along the way, for I have been burnt (as have many others), but 'doom and gloom' is not the only experience that I have to report. I have also succeeded (as have many others), between all those bouts of failure, and I must admit: once you find success in this incredible market, I would venture to say that the effort it takes to become a 'good trader' is well worth it.
There is no question about it: if you want to develop some good trading skills to succeed in the forex market, you stand to be put up against quite steep learning curve. But, once you enter into that 'sweet spot' of trading bliss, no longer will you find this market unforgiving and hostile (as it can easily seem, when you are learning).
The following are perhaps the 3 most important reasons why the currency foreign exchange market is one you ought to keep fighting to learn and master.
What Makes The Forex Market a Good Opportunity?
Unlike other financial markets, the FOREX market is:
Volatility is good... It creates the sort of movement on a daily basis - even, on a minute-to-minute basis - that you need in order to profit. Through movement (or, volatility), you can carve out decent profits.
Liquidity is as equally important. What if you have executed a trade successfully and find that you want to exit your position, would you be able to do so without liquidity? No, not necessarily. But, with liquidity in place, you can walk in and out of that same position, freely, without issue. In the forex market, trillions of dollars exchange hands on a daily basis. That means, you have the opportunity to get in and out of a position with ease. This is what liquidity is all about.
Finally, this market is literally, a 24 hour shop! With the exception of the block of time between the end of business on Friday and the start of business early Sunday, it's full throttle and fair game every day, all day. That means, you can trade whenever you want... Now that's amazing!
Other Reasons why Forex Trading is Lucrative
Of course, there are plenty of other good reasons why trading the forex market is a good idea:
- you can do it anywhere in the world
- you can scale up your income by trading more lots on the same trades
- unlike stocks, you need only focus on 6 major currency pairs
- if you trade other markets, your skills are transferable and you can trade this market
If you trade other markets and are looking to get into currency trading, do not let another day pass... Start making pips now! If you're a novice looking to become a trader, dare I say, start with the forex market... You'll be glad you did!