I have enjoyed trading since I was a teenager. I remember going to the library even as a kid and checking out books about trading. The time eventually came when I had some money that I could invest, and I had to decide what to invest in. I chose to invest in the foreign exchange and I have yet to regret that decisions. Here are the reasons that I chose to trade the foreign exchange (forex) over all other types of investments.
1. The Forex Is Open 24 Hours A Day
When I first began trading, I worked a full-time job, but I wanted some way to be able to watch the market and trade. I was not really interested in trading the daily charts – I wanted to be where the action was. And that is the reason I chose the forex. The forex is a currency exchange market joining banks from across the world. There is no central location for the forex like there is for the stock market so there are no opening and closing bells. No matter what time of the day I want to trade, I can!
2. The Forex Requires Minimum Investment
It does not cost a lot to invest in the forex. You can open accounts for as little as $250 – sometimes even less. I have even seen examples of brokers paying you money just to open an account. Now admittedly, these opportunities are rare and you will have to earn a certain percentage on your investment before you will receive the money they gave you, but it still happens. And just about every forex broker allows you to open a demo account to enhance your trading skills for free. This way you can learn the principles of trading before you ever invest a dime.
3. The Forex Offers Amazing Returns
If you invested $250 in the stock market, how long do you think it would take to double your money? Of course it depends on what type of stock you invest in, but on average, it would take quite a while. Because of the large amount of leverage available in the forex (i.e. your $250 can control thousands of dollars of currencies), amazing returns can be realized very quickly. For example, what if you made just 1% on your account each week? Doesn’t sound like a lot? Take out your calculator and determine how much $250 would turn into after 1 year if you made only 1% a week. The potential returns are astronomical!