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How to start trading in the forex market when I am in the Home Office (Coronavirus)

You will be pleasantly surprised to learn that novice traders can make money in the stock, foreign exchange and commodities markets. But how much can you get? Keep reading this article to learn strategies that can help you make money.

 

Foreign exchange trading is your main source of revenue

 

Nowadays, you can trade on the stock exchange without investing a lot of money. All you need is a computer, Internet connection and minimal fees. That’s it. However, according to recent statistics, about 80% of novice operators fail. So, for beginners, is it realistic to make money from foreign exchange trading?

 

Beginners can earn money on the stock exchange. To start making money in the stock market, you need to master trading skills, understand the rules of the market, and be able to perform technical and fundamental analysis. Whoever takes this business seriously and attentive to market conditions can have great success in the investment business.

 

To make money in forex, you must develop the following qualities:

 

  • Analysis skills;
  • perseverance;
  • Financial management.

 

The aforementioned talents cannot be learned from books, so not everyone who knows a lot can make money in the foreign exchange market.

 

How to make money with forex?

 

There are two ways to make money on exchanges: trading and investing. Therefore, there is not much difference between trade and investment, it is very vague. Most experts agree that trade is a short-term business, while investment involves a long-term approach. 

Another group of experts believes that the investment focuses more on passive income (dividends) than on resale of assets. We will study different business plans in depth.

 

 # 1-Trading

 

The trader’s job is to earn revenue in minutes, hours or days and then complete the transaction. When investing in the short term, you need to develop a trading strategy. The volatility of assets is very important for traders, because they can profit from volatility. The greater the volatility, the greater the profit from trading securities that you can calculate.

 

# 2- Investment

 

Unlike traders, investors pay more attention to long-term investment returns. The longer the asset’s profitability period, the better. Usually, the term varies from 1 to 10 years, but this is not a limitation.

 

How much money can a beginner make with Forex?

 

How much income can a novice trader earn from foreign exchange transactions? Under ideal circumstances, novice investors can earn around 20-50% in the stock market in their first year of work. Traders can earn a higher percentage of profits, but they also spend more time at work. The fact is that 1-3% of transactions per day can be considered a good result.

 

However, some conditions must be met to do this:

 

  • Ongoing training
  • Tendency to negotiate
  • Strictly observe disciplines based on risk management and analysis.

 

It is recommended that you do not make your first transaction immediately, but that you study the theory deeply, receive high quality forex education, master the skills and understand how the market works.

 

Forex trading skills for beginners

 

To help you play safely, we have prepared some useful tips that many experienced investors should follow:

 

  • Do not expect to make quick profits in the stock market. You can hardly do more right away;
  • Start small investments. Do some negotiations and see how it works. This will help you to avoid sensitive losses in the early stages;
  • Do not confuse investment and speculation. Anyone can become an investor, but active speculation requires certain skills. It is not for everyone;
  • Pay attention to commissions and don’t forget taxes. You must cut costs as much as possible and allow profits to flow.
  • To diversify your investment, that is, not to invest in an asset, but in a set of assets. This will reduce the risk;
  • Don’t be discouraged by mistakes. All novice investors can do this without worry.

 

Finishing

 

To begin, is it realistic to stay in the home office and make money on the stock exchange? Of course, this is reality. With the development of modern communication technologies, the question of whether it is possible to make money on the stock exchange will not cause you any doubts. Experienced traders have learned how to earn a steady income from securities trading. However, you need to understand that negotiation requires a lot of mental work, just like any other job.

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Mick

Mick

Mick is Editor in Chief and writer here on 361forex. I have been involved with the financial market for over 10 years as a self-taught professional trader and financial manager. Other features he loves to ride his bike on weekends, loves movies and going out with friends.

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