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    Current page location: Home Page > Article > How To Become A Foreign Exchange Trader
    How To Become A Foreign Exchange Trader
    Browse volume:79 | Reply:0 | Release time:2018-11-28 16:53:23

    Do you spend most of your working day dreaming of ways to escape the rat race? Do you want to escape the boredom of that Monday-to-Friday, nine-to-five, grind? Do you want to work for yourself, from home, have no boss and start and finish when you choose?

    If the answer is yes, then I'm sure you've been thinking about this for a while. I'm sure you've had loads of great ideas. Unfortunately, even the most brilliant ideas need money to start with. Starting a business can be expensive and that's why most new businesses fail! Until you really get going, a business can cost much more than expected and bring in a lot less than expected.

    Anyone can make money, if they already have money. Getting enough money in the first place, is where most people fall down!

    What's the solution? Well, there is something that you can try which doesn't require lots of money to start. Something where success is based more upon learning and experience. Have you heard of Foreign exchange trading?

    Foreign exchange trading is something which you can do from home - all you need is a decent internet connection. You can start small and do it in your spare time to make a little extra cash. Many people soon become experienced enough to quit their day jobs and take it up fulltime.

    How does it work? Lets say you exchange British pounds for US dollars at a rate of exchange of 1.5. You exchange £1000 for $1500. The following day the exchange rate of the dollar against the pound changes to 1.3. If you switched your $1500 back to pounds you would now get £1153.84 Because you predicted that the dollar would rise and the pound would fall - you made a profit of £153.84!

    That's more than 15%! Not bad for sitting at home in front of your computer. Real life Forex traders can do several transactions like that in a day and can easily earn between 14 and 60% on each transaction!

    So how to start.

    The beautiful thing about becoming a Forex trader is that many brokers offer FREE demo accounts - just like the real thing, but with pretend money in them. You can set up a demo account and use it to learn how to be a Forex trader. When the time comes that you are pulling off successful transactions every day - maybe the time has come to start using real money.

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