In my opinion, trading is the greatest business in the world;
- It has the cheapest set up costs of any business that I know of. You’ll need;
- A computer, preferably a laptop, so you can work from anywhere you like.
- Internet connection.
- A Broker
- Some Capital. These days you can open and trade a forex account for as little as $200.
- It is completely liquid, 24 hour trading.The lack of slippage on your entries and exits, guarantees that you can be certain where you are filled and eliminates the bad positioning that happens all too often in all stocks and futures markets.
- Due to such great flexibility in position sizing, the trader has the ability to consistently increase position size exactly proportional to there account as it grows. This has a tremendous effect on your account compounding and ultimately a vast improvement on overall annual returns.
- As I stated earlier, this market trades twenty four hours a day, five and a half days a week, so no matter what times your normal work hours are or what part of the world you live in YOU can trade this market. If you are a position trader, times are a lot less important. But if you swing trade, or day trade, the London and New York sessions are the ones to be involved in. THIS is where the big money changes hands. To view session times Click Here.For Australian traders, the best trading times fall between 4pm and 3am. Therefore I spend most nights trading the markets. I quite enjoy the solitude as it allows me to concentrate solely on my trading and also allows me to update this blog and share my journey.
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