Forex - Home-Based Business Opportunity Trading Currency
A great home-based business opportunity which should not be overlooked is investing in the foreign exchange (FOREX.
) market.
Many individuals world-wide are looking for a home-based business.
The convergence of the internet, free-teleconferencing, digital products and services, and online secure payment tools have made working from home both more desirable and feasible.
For almost ten years, retail traders--meaning ordinary persons--have been allowed to participate in the dynamic FOREX market.
New figures are expected to be released soon by the Bank of International Settlements which should indicate that the market is close to being a $3 trillion per day venue.
Since 2004, the figure had been estimated at $2 trillion.
Even at the old level, the FOREX was the largest financial market in the world, dwarfing all of the stock exchanges in the U.
S.
combined.
To say that the action in the FOREX is enticing would be an understatement.
Much of the growth is being fueled by individual investors.
When returns on investment (R.
O.
I.
) of 5-20% per month are being touted, it is difficult to resist jumping in.
Yet, as with most business opportunities, home-based or otherwise, one should not leap blindly.
When ever there are potentially large profits to be made, the risk is usually also great.
This is why good trainers typically advise potential traders to use only risk capital, i.
e.
capital they can afford to lose.
Of course, competent trainers also teach students how to properly identify, manage and minimize the risks they will like encounter while trading.
The R.
O.
I.
is only one of the factors to be considered when assessing whether a business opportunity is a viable one, suitable for qualifying as a good home-based business.
Low overhead facilitates a healthy bottom line.
Ease of entry into the industry is another consideration.
Fortunately, in addition to offering potentially high returns, investing in the FOREX requires little overhead beyond that which you are already utilizing.
Regarding investment capital, one could start with as little as $200.
00, although better returns and greater overall safety of funds may require at least a couple thousand dollars.
Here are 10 helpful tips for those considering FOREX investing: *Find a publication written in easy-to-understand language from which you can learn about FOREX trading.
*Decide how much risk capital, if any, you can start investing with.
*Find a reasonably priced educational course.
Something in the $100 to $500 range for starters should suffice.
*Get a recommendation from other traders for a good broker to place your trades with.
*Join several FOREX chat rooms where you can get support and information from other traders.
Some online brokers provide free forums at their website.
*Find and test one or two effective strategies to use in your demo account.
*Apply the same effective strategies over and over again in your live account, building your wealth in the process.
*Use good money management techniques which help preserve your capital even during an unfavorable price trend.
*Learn from your mistakes and keep a trading journal to help improve your future trading.
*Do not feel rushed to trade your real money.
Let your proficiency and confidence build first by trading in your demo account.
A systematic application of these and other tips will help to make you a successful trader.
Now is the time to get started in this unique home-based business opportunity.
Sandy Robinson, J.
D.
Copyright 2007
) market.
Many individuals world-wide are looking for a home-based business.
The convergence of the internet, free-teleconferencing, digital products and services, and online secure payment tools have made working from home both more desirable and feasible.
For almost ten years, retail traders--meaning ordinary persons--have been allowed to participate in the dynamic FOREX market.
New figures are expected to be released soon by the Bank of International Settlements which should indicate that the market is close to being a $3 trillion per day venue.
Since 2004, the figure had been estimated at $2 trillion.
Even at the old level, the FOREX was the largest financial market in the world, dwarfing all of the stock exchanges in the U.
S.
combined.
To say that the action in the FOREX is enticing would be an understatement.
Much of the growth is being fueled by individual investors.
When returns on investment (R.
O.
I.
) of 5-20% per month are being touted, it is difficult to resist jumping in.
Yet, as with most business opportunities, home-based or otherwise, one should not leap blindly.
When ever there are potentially large profits to be made, the risk is usually also great.
This is why good trainers typically advise potential traders to use only risk capital, i.
e.
capital they can afford to lose.
Of course, competent trainers also teach students how to properly identify, manage and minimize the risks they will like encounter while trading.
The R.
O.
I.
is only one of the factors to be considered when assessing whether a business opportunity is a viable one, suitable for qualifying as a good home-based business.
Low overhead facilitates a healthy bottom line.
Ease of entry into the industry is another consideration.
Fortunately, in addition to offering potentially high returns, investing in the FOREX requires little overhead beyond that which you are already utilizing.
Regarding investment capital, one could start with as little as $200.
00, although better returns and greater overall safety of funds may require at least a couple thousand dollars.
Here are 10 helpful tips for those considering FOREX investing: *Find a publication written in easy-to-understand language from which you can learn about FOREX trading.
*Decide how much risk capital, if any, you can start investing with.
*Find a reasonably priced educational course.
Something in the $100 to $500 range for starters should suffice.
*Get a recommendation from other traders for a good broker to place your trades with.
*Join several FOREX chat rooms where you can get support and information from other traders.
Some online brokers provide free forums at their website.
*Find and test one or two effective strategies to use in your demo account.
*Apply the same effective strategies over and over again in your live account, building your wealth in the process.
*Use good money management techniques which help preserve your capital even during an unfavorable price trend.
*Learn from your mistakes and keep a trading journal to help improve your future trading.
*Do not feel rushed to trade your real money.
Let your proficiency and confidence build first by trading in your demo account.
A systematic application of these and other tips will help to make you a successful trader.
Now is the time to get started in this unique home-based business opportunity.
Sandy Robinson, J.
D.
Copyright 2007
