Advantages and Disadvantages of Choosing Forex Trading as a Career

Now is the era where you can work without having to come to the office. Without having to wear a tie or a shirt. But work from home gadgets capitalize. The housewives have started to work like this to help the husband.

One of the career that you can choose is forex trading. There are a number of reasons you can consider choosing forex trading as your career path. Not only that, there are also some shortcomings of this career ladder so you do not choose wrong later. Let’s look at the advantages and disadvantages of forex trading as a career.

Advantages

First, let’s see first what are the advantages of living a career as a forex trader.

Need small capital

To start a career as a forex trader, you can start with a very small capital.

There are many trading strategies that can be used

You can run forex trading using technical analysis if you like reading graphs and numbers. But if these things are too confusing, you can still run this business by doing fundamental analysis. One way is to use the release of economic data. You can follow trades prime for more information.

Benefits are easily liquefied

Instead of other online business, the benefits that you get from forex trading is very easy to melt. Forex brokers only take a few minutes to process the disbursement of your profits into your account. Read fxtrade777.com if you are more interested about forex.

There are many pairs to choose from

If you have not managed to profit consistently from pair EUR/USD, then you can choose another pair. Like for example GBP/USD whose movements are more dynamic. Professional traders use a lot of dynamism or volatility to earn profits once trading.

Disadvantages

In addition to the advantages, there is also a shortage of forex trading business. Read carefully so you do not choose wrong later.

There are many factors driving the price

Things that affect the ups and downs of the value of the currency can be from any field. Not infrequently news that has nothing to do with the economy is also influential. An example is North Korea’s geopolitical conflict news. The impact of this news is the drastic increase in gold prices and the declining value of the US dollar.

Leverage is like a double-edged sword

Although many traders with limited funds feel helped by the leverage. But you need to know if you choose the wrong leverage, then most likely the entire capital will disappear in one trading.

Learn on my own

The data prove that 90% of forex traders will experience failure and switch from forex trading business. While the remaining 10% are traders who have a strong willingness to learn. Although they have to learn for themselves how to trade properly.

The movement of forex prices is very dynamic

Traders have no control over price movements and geopolitical conditions that occur in the world. These things often make traders who are profiting and then turned into losses.

Conclusion

Choosing a career as a forex trader is increasingly popular right now. However, do not make the popularity of this forex trading career the reason for you to follow-up with a trader. Note also the advantages and disadvantages of this forex trading so you do not choose wrong later.