7 Good Reasons to Start Forex Trading with your Spare Time
In this current world, making an income from your full time job is just not enough to live your life to the fullest. If you do have spare time (and money), there are many ways to earn additional income such as being a Uber driver, involving in MLM, internet marketing or just trading forex online. I will choose the option that gives me flexibility which is forex trading.
With forex trading, you have the flexibility of trading almost everywhere as long as you have access to the internet from your devices (mobile phone or laptop). Although you may need to have basic knowledge in forex (highly recommended), it requires minimal time to pick up the basic and start trading on demo account. You can either read up on Internet or attended one-week crash course on forex trading to equip you with the foundation of forex trading.
Here are 7 reasons you should choose Forex Trading as your first choice:-
1. Forex trading offers monetary leverage which means you can trade with a low capital outlay to control a large currency position. With just a small capital of $100, you can trade positions of $10,000 with 1:100 leverage offered by most forex brokers.
2. As there are a lot of forex brokers out there which makes the market very competitive, you will enjoy low spread and transaction fees.
3. Forex market is very transparent and you will not be surprised with hidden charges. Do understand what are the basic fees/charges involve so you can manage your risk and execute your strategies well.
4. There are more opportunities in forex trading as you not only can execute a buy trade, you can put in a sell trade too. If you feel that a currency is currently in an overbuy position, you can open a sell trade.
5. Forex trading gives you flexibility in managing your time. As there are a lot of forex trading strategies available on the Internet, you can choose one that fit perfectly with your lifestyle. There are strategies that requires you to check the market every 1 hour, 4 hours, once per day or even once per week.
6. When you have strong foundation in forex, you may have interest in exploring tools that could help you spot a bull trend, bear trend or a changing trend. The best part is you can get most of the analytical software/indicator for free.
7. The currency exchange market is so massive and has so many individuals that no single organization can manipulate the market easily.