Currently, an unlimited number of participants have access to trading on the FOREX market. Until the 70s of the last century, only large companies and banks had such an opportunity. What is work in the foreign exchange market, and how can you make FOREX your work.
Instructions
Step 1
Trading on the FOREX market is a job for strong, mentally stable and intelligent people. Do not believe tempting advertisements that promise fabulous income with minimal investment in a short time. First of all, the work of a trader is hard daily work, the reward for which will be financial freedom and independence.
Step 2
Today, there are no restrictions for any individual to work in the FOREX market, except, of course, his own financial capabilities. People can trade on their own, through a professional manager, or open a PAMM account. PAMM accounts are a modern and most convenient type of trust management, where a professional trader manages the funds of many investors, working on a single account.
Step 3
The harsh truth about FOREX is that the trader does not always make a profit here. Trading, like any business, requires financial investments, and it does not always develop successfully. In the foreign exchange market, it is impossible to get rich without a decent start-up capital.
Step 4
It can take years to learn and practice, and the result of these efforts will still be unknown. Trading is a risk, so harsh statistics show that 90% of all those who came to try their hand at FOREX quit this occupation after a year.
Step 5
The psychological component of work in the FOREX market is no less important. A person works at home at a computer, and there is no strict boss over him who will control all his actions, therefore, in the work of a trader, self-control is simply vital. You need to be a very disciplined person and be able to independently manage your work schedule.
Step 6
Any person who trades in the foreign exchange market for the purpose of making a profit is called a "speculator". Speculation is the essence of making money on FOREX. Working in the FOREX market is suitable for people of different professions. Gender and age do not matter. Doctors, mathematicians, taxi drivers and many others work here with success.
Step 7
Working on the FOREX market implies a constant high emotional stress, a trader simply needs to have stress resistance, a strong character and an iron will. You need to have the ability to make rational decisions in critical situations, to be able to quickly come to your senses after a loss.
Step 8
As in any other business, beginners and amateurs have no place here. All of them will face inevitable defeat and disappointment at FOREX. To successfully make transactions in the foreign exchange market, you need to read more than one book, develop a trading strategy and learn to completely control your own emotions. It takes a lot of effort, but the result is worth it.
