Wednesday, November 30, 2011

Is Forex Trading a Viable Work at Home Option?

Today I'm throwing out a subject that has been on my mind off and on for around 10 years now.  Oddly enough, the movie "Boiler Room" is what made me halfway interested in the stock market.  Yes, I'm aware the movie is about stock market scamming, but my interest was more in the basics of how stock trading worked.  I even bought a few books on trading to see what it was all about, but never really followed through and dove in to the market.  One factor that may have kept me from getting started is the fact that I'm not a math person at all, and all those numbers and calculations can be intimidating.

So now today I still find myself interested in the whole idea of stock market trading and continue to read up on the subject since the Internet is a plethora of information on it.  One thing that I've picked up is that Forex trading is the way to go if you want to be a trader from home.  Apparently being a "day trader" in the Forex market is also the way to go if you are a very small investor and don't have 10 grand laying around to invest right away.  Apparently those who take the time to learn how things work, and take the time to master using practice trades that don't involve real money first are the ones that see success.  Forex trading involves trading foreign currency rather than stocks in a company, so that alone is a bit different from the idea most people have about stocks.

The idea of having these real time charts set up on my computer, understanding what's going on, and actually making money doing it has always intrigued me.  Now reading that people are making money from home as day traders sounds even more interesting, but is the learning curve and risk involved too high to give it a shot?  I've read successful Forex traders are the ones that have patience, aren't emotionally attached to the money, and take the time to learn.  I definitely have the patience, and I'm not someone to throw large amounts of money away so I would definitely learn what I could before investing a dime, the only question is can I pick up the skill.  I am definitely at novice at this,  so "baby steps" has always been my approach when it comes to trading.

Are there any Forex traders out there that are doing this for a living from home?  Are you unemployed but still winning by being a Forex trader?  We welcome your opinions and/or thoughts on the matter as well as your personal experiences in the comments below.

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