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What kind of job that involves ‘ Forex ‘?
To be honest , i got absolutely no idea what forex is. But my pension dad has been doing with this forex thing for quite a long time already but he is not earning money . Can i know what is this job about and how much can these forex-related job get paid ?
The Forex is like the stock market. You buy and sell national currencies in order to try to make profit. It’s extremely difficult to get good at. However, your dad might be able to significantly improve his success if he would be willing to follow some of my advise below…
To be successful with the Forex, you need two things strategy-wise…
1) You need a strategy. They are NOT as hard to come by as people suggest, in fact, you can select from a list of 8000 of them right here: http://tinyurl.com/3tcla4v
2) Then you need good money management. Even with the best strategy, if you trade too large of lots, or you do poor money management (aka impatience, greed, etc) you’ll blow your account.
I suggest that you open a demo account at the above link, and add ALL of the top 20 strategies to it, and let the demo run for a month or so. If it does well after a month, you can then weed out any of the strategies that didn’t do so well at that point. I suggest following multiple strategies rather than just one, because more strategies = more stability. Any strategy can go bad at any time, no matter how good it’s done in the past. But following multiple good strategies means that if several go bad, you’re still in the green.
If it does well after a month or two and you are ready to go live, then I highly advise you to NOT put a large amount of money in to start. If you have a lot of money, put it in gradually. Start with around $2000, and then let that go for a month or more. IF it is in the green after a month, then add more money if you wish, and gradually increase the lot sizes as you gradually add more money. Never add money in if it has lost money. In other words, never add money to make up for a loss. If the account has a loss, it must make that loss back on it’s OWN, not by YOU adding your own money in! And that takes a lot of patience because some times it can take it a while to make it back, and during that time, you have to wait. So patience is key. But For example, if you have a hundred thousand dollars to put into the Forex, I would say it should take you 6 months to a year to get it all uploaded into the Forex. Because you start with 2k, then let than run a month. And if it does well, then you double it, and let that run another month. And if that also does well, then you double it again, etc. It’s much safer that way, because if you do some horrible miscalculation, most likely you’ll have the loss early when your account is just $2000, rather than lose your whole $100,000!
Also, be sure to go with a no dealing desk broker, like FXCM. I hope all this info helps. If you have any questions, you are welcome to private message me anytime.
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