Why do I trade Forex?
Because I am ABSOLUTELY CONVINCED that this is the best "business" in the world.
There are:
1. no rent of offices (that is, NO dealing with Realtors, Lawyers, and government departments...man, what a pain in the ass). Also no office fit-out costs
2. no staff, (man, unless you have had large numbers of staff depending on YOU for their paypacket each week, you cannot know what a huge 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) and no "slow moving" items. No massive amount of funds tied up in inventory
4. You can "borrow" as much as you want (by increasing your leverage), WHENEVER you want. (Try running a big business and going to the bank for a short term loan for $10 mill...it will take a month minimum). I am trading $10-12 mill all the time and I get it instantly through the brokers by the use of leverage.
5. If the business becomes a hassle for whatever reason, you can shut it down (that is, close all positions) instantly...and re-open (initiate new positions) whenever YOU want to re-open your "business."
6. You can "scale" your business to whatever size YOU want simply by increasing/decreasing your positions.
7. Absolutely minimal paperwork. Simply send your 12 month summary Profit and Loss Statement to your Financial Accountant for tax payment purposes.
8. You can trade from anywhere in the world. My wife and I travel most of the year. (take your laptop or PDA or whatever else they will come up with and trade while sipping a nice drink as close by as your local cafe or as far as some open air cafe in some remote little town in beautiful Italy while you watch a bocce match at the park.)
I could keep telling you more of the benefits of this business, but suffice to say...this is the best "business" in the world. I run a multi-multimillion dollar business from my laptop.
And did I mention that it was exciting and fun????
by: Jacko's Forex House of Pleasure and Pain
1 comment:
There could be various reasons why someone chooses to trade Forex (foreign exchange). Here are some common reasons:
Profit potential: Forex trading offers the potential for substantial profits, especially with leverage. Traders can take advantage of small price movements in the currency markets to generate profits.
Accessibility: The Forex market is open 24 hours a day, five days a week, which provides traders with flexibility in terms of when they can trade. Additionally, the market is accessible to traders of all sizes, from retail traders with small accounts to large institutional investors.
Diversification: Forex trading offers diversification benefits as it is a different asset class than traditional stocks and bonds. By adding Forex to their investment portfolio, traders can spread their risk across multiple markets.
Global market: The Forex market is a truly global market that operates 24 hours a day. This means that traders can take advantage of market opportunities from around the world.
Educational opportunities: Forex trading provides educational opportunities for traders to learn about global markets, economic indicators, and geopolitical events that can impact the currency markets.
Ultimately, the decision to trade Forex should be based on personal goals, risk tolerance, and trading experience. It is important to understand the risks involved in Forex trading and to have a solid trading plan in place before investing any money.Read more
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