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Many people dont realize that trading currencies is one of the biggest wealth creation vehicles available to many smart entrepeneurs.
Find out what is possible when you apply the techniques of Robert Kiyosaki to your trading business…
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Warren Buffett isn’t known as a currency trader. But he does get involved on occasion in currency markets. … But he’s not normally thought of much in the world of FOREX trading. Also he is genius stock investor and businessman.
Warren stated multiple times that he likes to invest in assets that produce for him. Therefore he likes buying businesses more than any other investment types.
What is Forex?
Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world’s currencies trade. The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding trillion. All the world’s combined stock markets don’t even come close to this. But what does that mean to you? Take a closer look at forex trading and you may find some exciting trading opportunities unavailable with other investments.
FOREX TRANSACTION: IT’S ALL IN THE EXCHANGE
If you’ve ever traveled overseas, you’ve made a forex transaction. Take a trip to France and you convert your pounds into euros. When you do this, the forex exchange rate between the two currencies—based on supply and demand—determines how many euros you get for your pounds. And the exchange rate fluctuates continuously.
OPPORTUNITIES IN FOREX: WHAT’S YOUR OPINION?
Just like stocks, you can trade currency based on what you think its value is (or where it’s headed). But the big difference with forex is that you can trade up or down just as easily. If you think a currency will increase in value, you can buy it. If you think it will decrease, you can sell it. With a market this large, finding a buyer when you’re selling and a seller when you’re buying is much easier than in in other markets. Maybe you hear on the news that China is devaluing its currency to draw more foreign business into its country. If you think that trend will continue, you could make a forex trade by selling the Chinese currency against another currency, say, the US dollar. The more the Chinese currency devalues against the US dollar, the higher your profits. If the Chinese currency increases in value while you have your sell position open, then your losses increase and you want to get out of the trade.
MAKING A TRADE: HOW TO BUY AND SELL CURRENCY
All forex trades involve two currencies because you’re betting on the value of a currency against another. Think of EUR/USD, the most-traded currency pair in the world. EUR, the first currency in the pair, is the base, and USD, the second, is the counter. When you see a price quoted on your platform, that price is how much one euro is worth in US dollars. You always see two prices because one is the buy price and one is the sell. The difference between the two is the spread. When you click buy or sell, you are buying or selling the first currency in the pair.
Let’s say you think the euro will increase in value against the US dollar. Your pair is EUR/USD. Since the euro is first, and you think it will go up, you buy EUR/USD. If you think the euro will drop in value against the US dollar, you sell EUR/USD.
If the EUR/USD buy price is 0.70644 and the sell price is 0.70640, then the spread is 0.4 pips. If the trade moves in your favor (or against you), then, once you cover the spread, you could make a profit (or loss) on your trade.
Forex, Trading, Trend, Investing, Forex Indicator, currencies
But how can you reduce paying taxes if you trade forex?
You are self employed. Not an employee.
you not an employee. I mean who is your "boss or manger" ? you? ok then you are a small business owner (at best if you wanna look at it like this guy does. I mean doctors work every day and they own their business) if you own your job. Robert says that him self.
You guys should check out this EXTRAORDINARY website called FIREPA.COM . You can make money online and start working from home today as I am! I am making over $3,000+ per month at FIREPA.COM ! Visit Firepa.com and check it out! How does the digestion author the itchy sleep? The prose records the misty tendency.
From the fact of the website link being broken, you can tell that the bright shiny object of the potential of forex trading, or at least the business model that they are using has shown itself to no longer be in business.
I've got it sorted now, averaging 400-500 pips a week easily. Find a better trading technique. This one will turn things around. Watch this video
Derivatives are like this: you win a little most of the time and all it takes is 1-2 losses to wipe your account clean. Not a smart way at all to invest, it’s gambling because it’s rigged and most youtubers lie to bait people in.
At which minute did he talked about Forex ?
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