Should you invest in forex?
I’m sure you have seen money changers, right? Or was in a situation where you had to convert your peso into something else or vice versa. As there are different countries that has different flags, governments, rules, and laws, there must also exist currencies for each of them. For us, it’s the Philippine Peso or PHP. Another popular one is the U.S. Dollar or USD. As of this writing, the current exchange rate is USD/PHP = 45.66.
Meaning it will take 45.66 Pesos to buy 1 US Dollar.
Catch me in my live training events! (quick plug)
The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below. We are doing Qatar this November and Davao this October!
Stock Smarts Iloilo — July 29 – July 30, 2017
Stock Smarts General Santos — August 25 – August 27, 2017
Stock Smarts Manila — September 9,10, 16 & 17, 2017
Stock Smarts Cebu — September 30 – October 1, 2017
Stock Smarts Davao — October 20 – October 22, 2017
Stock Smarts Malaysia — November 4 – November 5, 2017
Stock Smarts Sydney Australia — November 11 – November 12, 2017
Stock Smarts Singapore — November 25 – November 26, 2017
So, what is the FX Market?
Unlike Stocks, it has no central location. The Forex (Foreign Exchange) Market is not just one building that exists in one place, it is the largest market in the world compared to Corporate Stocks, Commodities, Bonds, etc. with trading volume reaching more than 4 Trillion dollars per day.
24 hour Market?
Since it has no central location, it first opens in Sydney, Tokyo, London, and New York making trading 24 hours a day as compared to usual markets that can only be traded 6 hours a day. More opportunities in different time frames can be taken advantage of. Countless fundamental and technical strategies and analyses can be applied by the trader or investor to make this market work for their benefit.
Profit when a currency is going up or Profit when a currency is going down (What?)
In this example (AUD/USD)
When you think the AUS Dollar will be stronger than the USD, you can put a Long or a Buy position that will allow you to take profits when the value goes up. Inversely, when you think the AUD is going to get weaker relative to the USD. You can put a Short or a Sell order allowing you to profit when the price goes down.
This is an added feature that can be maximized for the trader and investor. No longer do you have to wait for the market to go up to take profits or enter a trade. If your analysis tells you and are convicted that the value will continue to go down, you can profit by selling short. With this technique, you have doubled your odds of success. You don’t have to choose and be limited by upward trends, with Forex you can also take advantage of downward trends and put trades in your favor.
You can Practice, Practice, and Practice some more without losing money!
As with anything in life, like learning a new language, acquiring a new skill, getting used to a new job, or learning a new subject. It will take time and a lot of practice to master. The Forex market exists for us to take advantage of, or without proper knowledge and training, it can take advantage of us. Most Brokers (If not all) would allow you to open demo accounts to adjust with the learning curve and allow you to explore the FX world and test your strategies without actually putting money in the account.
We must treat every kind of market with respect and perform our own due diligence in learning the platform, learning what makes the market tick, and how can we as traders and investors use our own strategies and research to take advantage of this vast and liquid market.
To learn more, go to http://forexaccount.management/ for more about the world of Forex and Video tutorials.