Why can I trade Forex?
Since I am ABSOLUTELY CONVINCED that this is the best business in the world.

There are:
1. No rent of offices (that is, NO coping with Realtors, Lawyers, and government branches. . .man, what a pain in the ass). Also no office fit-out costs

2. No staff, (person, unless you have had large numbers of staff depending on YOU because of their paypacket per week, you cannot understand what a massive pain in the ass it is. They ALL want you to solve their problems)

3. No inventory or stock to buy. No shrinkage (theft of stock) without a slow moving objects. No massive number of funds tied up in inventory

4. You may borrow as much as you possibly need (by increasing your leverage), WHENEVER you desire. (Try running a huge business and visiting the bank for a short-term loan for $10 mill. . .it will take a month minimum). I am trading $10-12 mill constantly and that I get it immediately via the brokers by using leverage.

5. If the business becomes a hassle for some reason, you are able to close it down (that is, close all positions) instantly. . .and re-open (initiate new positions) whenever YOU need to re-open your business.

6. You can scale your business to whatever size you would like by simply increasing/decreasing your positions.

7. Absolutely minimal paperwork. Simply ship your 12 month summary Profit and Loss Statement to your Financial Accountant for tax repayment purposes.

8. You can trade from anywhere on the planet. My wife and I travel most of the year. (take your laptop or PDA or whatever else they will develop with and commerce while sipping on a wonderful beverage as near by as your regional cafe or as much as a few open air cafe in some remote little town in beautiful Italy while you watch a bocce match at the playground.)

I could keep telling you greater of the advantages of this business, but suffice to say. . .this is the best business in the world. I conduct a multi-multimillion dollar business from my laptop.

And did I mention it was fun and exciting????



What are the downsides of the business of trading Forex?

For me there are none. I am older (early 50s), retired, financially well-off and seasoned (20 years) in trading shares property and commodities. I've also had much experience in business (haing sold two companies for substantial amounts of money) Although I trade large amounts, the monetary risk at the margin is relatively small. Also, I've had incredibly good luck in this market and have made a substantial amount of money in the previous twelve months ( so I am now playing the Forex casino money).

For a lot of you, the situation could differ. You are probably young, working, eager to produce a lot of money and inexperienced. That is a dangerous mix.

Most young traders here all suffer from the basic same issues.
1. There's a trend for newbies to PANIC when the market goes somewhat against this is because of:
a. Probably afraid to eliminate money
b. Probably undercapitalised
c. New to business....therefore probably uncertain about your own abilities
d. Unsure the trend lines, 50% Fib line and around numbers are as dependable as they are in practice.
E. Probably inexperienced in business and investment by some practical aspect
f. Probably unsure who to speak to for guie

2. The second issue is they are all looking for the Holy Grail There is no mechanical system that is a Holy Grail...I've been watching the contortions of a trader here that is trying to establish Elliott Wave is the answer... BS!
However, allow me to tell you a secret. . .there is a Holy Grail. Each time you look in the mirror, then you will see it. It is you.

3. The thing which kills new traders would be that the wild punting on what that goes two ticks.

4. Quit thinking you have to outsmart the market.
You don't have to..this business is quite simple if you leave your brain at the door....just follow the trend follow the money going with the flow barking with the big dogs.
Stop thinking it can not be that simple....it is!!!


5, you have to detach yourself emotionally from the money. . .that is the challenging part. . .stop watching it as money, and look at it numbers.
Also, don't play with money you can not afford to lose. . .or rather, put the money aside and tell yourself it is already lost. (You MUST detach yourself from the money

6. And keep in mind, Leverage can make you a fortune. . .but leverage will kill you faster than you think. . !!


Ultimately, I am not saying anything different to that which all of the fantastic trading books say. . .but it is amazing that every newbie wants to take on the market and then wonders which express freight train flattened them (and destroyed their trading accounts).
The majority of people are trading for the adrenaline rush in place of the dull concept of merely maximising profits.


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