Can a housewife trade Forex?
Do housewives trade Forex?
“Give me a solid proof!”
It’s not a secret anymore that housewives do trade Forex. In 2007, one particular housewife was charged with tax evasion. Her problem was she did not properly report her 1.7 million pound sterling gain. There are many other housewives trading the financial markets. Many of them found out that Forex market is better than the other financial market such as futures and options market. Well, at least that’s the view of Mrs. Torii who made $150,000 trading Forex in 2006. Gender or status is not a problem when it comes to Forex trading. Moreover, female traders have the upper advantage because patience is one of their natural tendencies. This is a huge difference. To make things even better, more and more governments in the world are aiming to provide cheaper internet cost. This is the reason why we see the number of internet subscription rising in a staggering rate every year. To make it short, you have the examples of those who have succeeded in Forex trading and you also have the tools in your hand. So why not consider trading Forex?
“Forex trading is for smart people…”
“I’m too busy…”
The above and many other reasons are invalid in this time and age. Why? It’s because you can trade Forex even with minimum or no experience at all. That’s right! It is possible to trade Forex with no technical knowledge. Do you want to know how? Today people can trade Forex using one of three trading strategies. The first strategy is to do it yourself and the second strategy is to let someone else do it for you. The final and probably the best among the three is to trade Forex by yourself but with the assistance of a professional Forex trader.
The first strategy requires you to learn how to trade properly. You must endure the long and tedious learning process and you must spend money to obtain trading materials and coaching. The second strategy does not require you to learn because a professional trader will trade the account for you and what you need to do is find the professional trader, sign some agreements and then fund your trading account according to their specification. However, you need to know that big and profitable traders usually don’t want to manage small trading account.
Truth be told, the best path to take in Forex trading is to trade yourself. Does this mean the first strategy is better than strategy number 2 and 3? The first strategy is the best in the long run but not if you are still new to Forex trading because you need to prepare yourself first. Here are some of the advantages of strategy number 3:
You don’t have to become a proficient Forex trader first.
You can still learn while you trade Forex.
You can make money while you learn (and therefore, have the ability to fund your learning).
You don’t miss good trading opportunities during your learning process.
So what do you need to do if you want to use strategy number 3? Easy… just follow the simple steps below:
Get familiar with the Forex broker’s trading software (trading platform).
Subscribe to a genuine Forex trading signal service.
Enjoy your profit.
Let me explain them more specific…
The first thing you need to do is to go to a Forex broker (domestic broker or overseas broker), register for a free demo account, download the software and then install it. It is recommended to open a demo account with either Oanda or Alpari UK because they offer unlimited demo account. After you do that, try to get familiar with the trading platform especially with the functions. Meta Trader 4 is the most common trading platform used in Forex. The easiest thing to do is to go to YouTube and type “MT4 tutorial”. Honestly, there are plenty of resources you can get on the web that can help you understand Meta Trader 4 functions. A week or two is enough to get you familiar with the whole thing regarding MT4. You can open a real trading account once you finish with the tutorials.
The next thing you must do is to go to a genuine Forex trading signal service and subscribe. This is the key to make money in Forex without any technical knowledge. You don’t have to master any trading methodology at this point because the professional traders will help you identify good trading opportunities. This is the only work that you have to do in order to profit from the Forex market. Nonetheless, the task of finding a great, genuine Forex trading signal service is tough because you have to literally search from hundreds of similar services on the net and then do a small research on each one of them. There are those who claim that their service can guarantee thousands of pips every month and there are also those who claim that their trading signal never experience a losing trade. The reality is most of them have been proven not capable of delivering their promises. On the contrary, the genuine service will tell you the reality and doesn’t put unrealistic claims.
The third and final step is to enjoy the fruit of your labor. Forex trading is not an easy thing to do. Only those who do things right can enjoy profit. In the long run you will have more benefits when you go with this strategy than if you go with the other two.