The Basics of Forex Trading (Episode 148)

Updated: June 28, 2023

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What you’ll hear in this episode:

Whether you’re a seasoned investor or just getting started with trading, forex can seem like a complicated and intimidating world to navigate.

However, with the right knowledge and strategies, it can also be a lucrative and exciting income and investment opportunity.

The episode covers the fundamentals of forex trading, including what it is, how it works, and some tips for getting started.

Excerpts and Highlights:

Forex trading is very high-risk. Many people lose more money in it than in stock market trading. So the first thing you really need to get started is capital that you can afford to lose.

Forex trading, like any other worthwhile endeavor, requires time and effort to be successful. It will take lots of practice and continuous study to learn the necessary skills to make it into a regular source of income.

You need to choose a reliable and legitimate forex broker to be able to learn hands-on how to trade and get acquainted with how everything works online.

If you’re getting bored in the stock market, then forex trading offers a faster albeit riskier alternative. It’s an active income source that gives you access to the world’s largest and most liquid financial market.

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