Online Stock Trading / Forex Trading?
Hello guys. am thinking of doing online stock trading . At the moment i dont know anything about .i've been looking for profitable or productive buisness stuffs i could do online, to augment my monthly pay cheque. However i would like to know (1) if its a lucrative online buisness to emback on. (2) If i need special training for it by experts. (3) If the risk is higher than the gain or vice visa.(4) the best institute that could teach me and help me at the initial stage of the trading. (5) is FOREX trading the same as online STOCK trading. (6) Is there any other channel of financial transaction apart from Paypal. I reside in the caribbean and paypal does seem to recognise our credit card transactions. Thanks for your time and answer
- Anonymous1 decade agoBest Answer
Investing is a passive thing that anyone can do and hope the markets go up and the economy improves and the system doesn't fall apart again or another bubble doesn't burst or the Fed doesn't do something stupid, etc.
Trading is a profession, not a hobby. It requires committment, many more resources, much more education and training and experience and resources, like any profession. But unlike any other profession, the risk is very high, especially in Forex with 100:1 leverage. You may not know what that term means, but it is a primary killer in the futures and Forex markets, even for those that think they know something. Training is very expensive.
I'm not sure what you mean by stock trading being the "same" as Forex trading. They require different brokers and accounts. A stock is essentially part of a company with their own set of circumstances, products and services, marketing and competitive issues, employees and CEO's. Trading the Forex is a world currency against another, called a currency pair, like GBP/USD, with their own set of world circumstances, governments, bailouts, GDP reports, interest rates, unemployment rates, etc.
What Does Forex Market Mean?
The market in which participants are able to buy, sell, exchange and speculate on currencies. The forex markets is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. The currency market is considered to be the largest financial market in the world, processing trillions of dollars worth of transactions each day.
Investopedia explains Forex Market
The foreign exchange markets isn't dominated by a single market exchange, but involves a global network of computers and brokers from around the world. Central banks use their massive buying and selling capabilities to alter exchange rates through their open market activities and in many cases will do so not with profit in mind, but rather for any number of policy reasons. Forex brokers act as market makers as well, and may post bid and ask prices for a currency pair that differs from the most competitive bid in the market.
- Anonymous5 years ago
One of the most important things to remember when it comes to forex online trading is that you must remain emotionally calm and in an objective state of mind. If you give in to your emotions and become an impulsive trader, you will quickly lose money in the forex market. The only cure for emotional trading is to predefine all aspects of your online forex trading; you can do this by creating a concrete forex trading plan that describes everything you will do as you interact with the market. The best online forex trading educational systems will give you a solid trading strategy that you can use to build an effective yet simple forex trading plan around.
- Anonymous1 decade ago
First google this for me
Also google Forex Rip-off, or Forex Complaint
There are many companies that will take your money, say they invested it when they really didn't and then tell you that you lost money, even if you think you made money.
Be very, very careful out there with who you deal with.
- I am not a forex investor - but I know a whole heck of a lot about scams.
- Anonymous5 years ago
the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.
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- Anonymous4 years ago
You can make money in binary options only if you treat it as a real form of investing. Learn here https://tr.im/BinaryOptionsStrategy
This means learning how it works, learning how to read charts and learning how you can make accurate predictions. All these are not that difficult but it takes some time. If you treat it as gambling and just make random predictions then you will obviously not win.
- Anonymous1 decade ago
You can also visit http://etoro.eg1.us/ to learn more