Forex as a business

Forex as a business

Once you decide to enter into a business deal you usually cannot back out of it unless you want to pay a hefty fine or break the law, in Forex trading it’s usually better to just let the pre-defined decisions you’ve made play out instead of breaking your trading rules by interfering with your trades. Manage your trading money like a businessEstimated Reading Time: 8 mins How to Start a Forex Trading Company in [Step Plan] Forex trading is a terrific way to make money at home if you do it right. The foreign currency exchange market can be a lucrative way to make money from home, and all that is needed to start is a computer and enough cash to open up a Forex account with a broker. For this business to be successful, you should have a certain amount of knowledge concerning the Forex market

Why Forex Trading Is The Best Business In The World - Pip Mavens

I really consider myself to be a capitalist and explorer. For me, trading was never meant to be an end in itself, but rather as a means to a more meaningful and fulfilling end. There is no other business in the world not even stock or futures trading that can give you that kind of raw borrowing power.

Of course, forex as a business, as Uncle Ben told Peter Parker aka Spidermanforex as a business, with great power comes great responsibility. The forex as a business side to having so much borrowing power, forex as a business, is that you can financially ruin yourself if you go about it the wrong way. Good traders use leverage to advance their goals, while bad traders use leverage to speed up their demise. This is why I always emphasize having a good trading education.

One of the biggest risks of forex as a business a traditional business is that you personally stand to lose more than your initial investment. Your personal assets may be seized and sold to pay your creditors.

The risks associated with traditional businesses are often too impractical for the average person to consider. With Forex trading however, your losses are Only under very extreme circumstances will you ever be at risk of losing more than that.

Getting into business is the most likely way to attain wealth. statisticsthe downside is often too painful to bear. There is no waiting to liquidate your assets, no complicated forms to fill, and no impatient creditors to appease. You have full control every step of the way.

You have the flexibility to immediately alter your situation, if you choose to. And in the worst case scenario, even if you messed up in the worst possible way, you may only lose the capital in your trading account and not a cent more. Compared to traditional businesses, the potential upside of retail trading is virtually unlimited.

Whatever the case may be, forex as a business, your profit potential will be limited by yourself, not external factors. We live in a fast changing world, but the skill of trading is one that will always remain useful, forex as a business. You can trade anywhere in the world with a stable internet connection, which renders constant travel to be a real option for you. I firmly believe work and life cannot be separated — your work will influence your life, and your forex as a business will influence your work.

The post is quite simple but actually the basic learning point for anybody who wants to and is really serious to trade for a living. Moreso, if proper strategies are applied, trading has the greatest tendency to give a good life to the most ordinary person, forex as a business. Hi Chris, You have being a source of inspiration to me. Words alone not enough to express my gratitude. I love your posts and I will like to be more than just a trader. Pls, what can you tell me about the liteforex Company?

Do you recommend it to traders? If not, could you please mention some forex broakers you recommend, most especially for Nigerians? Thanks a lot and more grease to your elbow… Kudos! I would agree with you Chris. For people like you and me who know how to implement risk management and proper use of leverage it is the best business in the world by far.

If you are really good you can operate trade rooms where people pay to get your views and calls like I do which is another form of income. You can asset manage too which is another form of income. You can teach novice traders by designing a course based on your own strategies, yet another source of income.

You can open a news letter for subscribers. In fact the options are endless. People have to transparently know that you are good. After thirteen years of hard work and study I have achieved such a status where all this and more is now available to me. All I would add to your post is that it is no different than any other profession, forex as a business. It requires hard work and ongoing study to maintain your edge.

You must pay the price to learn to overcome the obstacles that will stand in your way, no differently than starting your forex as a business business. Like starting your own business only a few elite ones will make it. Same as small business owners. All the best. Having mixed results and still not getting regular consistency using forex factory calendar and high impact announcements as a means of connecting fundamentals with the technicals for trading price action trades on the faster time frames.

You have mentioned you use H1 or H4. I would prefer to swing trade H4 or Dly but volatility often kicks my butt on the slower time frames, so attempting both. Using RSI,MACD and patterns only for indicators. As you suggested, no indicators on candles and taking candles on their merits. Thanks for all your encouragement. Great Information here: I learned so many things after reading this article. Thanks a lot for this informational Stuff!!! Notify me of follow-up comments by email. Notify me of new posts by email.

As far as I know, trading Forex as a business is the forex as a business way to make a living. Good traders use leverage to advance their goals, while bad traders use leverage to speed up their demise This is why I always emphasize having a good trading education. Reason 2 — Limited Downside Risk One of the biggest risks of running a traditional business is that you personally stand to lose more than your initial investment.

What are you options now? Well, you could 1 Remain in operation and pray for a miracle 2 Shut down the business and get sued by your suppliers, workers and landlord for not paying them like you promised. Reason 3 — Flexibility Getting into business is the most likely way to attain wealth. Now compare this with trading. Reason 4 — Scalability Compared to traditional businesses, the potential upside of retail trading is virtually unlimited.

Reason 5 — No Inventory, Staff Problems In trading, you only have 2 things to focus on: your strategy and yourself. Really… do you need more reasons? I am not just a trader — trading is just a part of my overall strategy in life. September 14th, General 10 Comments. Eniola August 17, at pm - Reply. Hello Chris, The post is quite simple but actually the basic learning point for anybody who wants to and is really serious to trade for a living.

Have a nice time on your US trip. Regards Eniola — Lagos. stu February 3, at pm - Reply. alfredo arcieri August 17, at pm - Reply. Best way to have a good life and some money in your pockets!!

Forex as a business August 17, at pm - Reply. Chris Lee August 17, at pm - Reply. Just make sure that the broker is regulated by the appropriate authorities. Marc August 18, at pm - Reply. Chris Lee August 18, forex as a business, at pm - Reply. Mike November 11, at am - Reply. Hi Chris, Having mixed results and still not getting regular consistency using forex factory calendar and high impact announcements as a means of connecting fundamentals with the technicals for trading price action trades on the faster time frames.

Best Trader January 5, at am - Reply. Demyan Popov September 16, at am - Reply. Leave A Comment Cancel reply Comment. Go to Top.

How To Start A Forex Trading Business

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Forex Trading As a Business: What You Should Know - blogger.com

Trading Forex as a Business: Reason #1 – Leverage. A big reason for choosing trading as a money-making endeavor is the leverage that’s readily available. If you tried to borrow $, from your favorite bank to start a business with no track record, you’d be shown to the door faster than you can say “pretty please?” How to Start a Forex Trading Company in [Step Plan] Once you decide to enter into a business deal you usually cannot back out of it unless you want to pay a hefty fine or break the law, in Forex trading it’s usually better to just let the pre-defined decisions you’ve made play out instead of breaking your trading rules by interfering with your trades. Manage your trading money like a businessEstimated Reading Time: 8 mins