Three top reasons why you should trade forex

Julie Brownlee, Fsp Invest, 10 Jul. 2014

Tags: forex trading, why trade forex, forex, currency trading, currencies, trading forex, forex trading strategies, trading

If you’ve decided to give trading a go, the first thing you need to decide is what you’re going to trade.

There are a whole host of instruments out there covering a wide range of assets. You can trade indexes, shares, commodities and forex.

So why should you give forex trading some serious consideration? Let’s take a look…

Reason #1: Forex trading is easy to do

Unlike trying to hone in on a particular share, forex trading means you only need to look at a few currencies.

And unlike shares, which have a variety of different factors affecting their price movements, a simple forex trading strategy can yield good results.

By using a few simple technical analysis indicators, you are in a good position to profit. You can use these indicators to predict what currencies are going to do next, the team at FSP Invest explain in The Ultimate Secrets to Forex Trading.

And this means you have a better chance of getting in and out currency trades with gains.

Reason #2: You can profit from the rise and falls of currencies

When trading forex you trade the currencies in pairs. For example, the dollar and the euro or the dollar and the pound.

Because currencies trade in pairs, one will go up while the other one falls. Every time one currency strengthens, another falls.

For instance, you think the euro is going to strengthen against the pound. You can sell pounds and buy euros. This is going short on the EUR/GBP. Or if you think the opposite is going to happen, you can buy pounds and sell euros. This is going long the EUR/GBP.

And exchange rates between currencies are always moving, so there’s always a potential to profit.

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Reason #3: Currencies tend to follow trends

Whether you look at the long- or short-term, currencies tend to trade in identifiable trends. These trends continue until the trend reverses.

By studying these trends, you’ll get to know how the major currencies react. And this provides you with perfect profit making opportunities.

So there you have it, three top reasons why you should trade forex.

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