Have you ever wondered about the financial benefits of forex trading? I have. Prior to my son moving to the UK, I had no knowledge of foreign exchange much less forex trading awareness. His college budget being so tight and the terrible exchange rates from USD to GPD prompted me to explore available options, which led me to read up on Forex trading. Foreign exchange, aka Forex is the worldwide-decentralized financial market for the trading of international currencies. The foreign exchange market determines the relative values of different currencies. Obviously, I was interested in a short-term gain that might expand his study abroad college budget a bit.
Typically done through a broker, Forex trading involves selecting a currency pair that is likely to change. From there an order is places and a trade position established. Upon closing the trade, a gain or loss is returned to the owner account. From everything I read Forex, trading can be a risky and tough business. This seems a truthful assessment. Many of the broker sites displayed an awareness warning that was not of a legal nature but a loss warning. Most sites used the exact same verbiage, “The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.” I am well aware of investment risks but found it rather scary that most Forex Trading websites used that exact phrase.
Driven by the maternal instinct to help my son, I was determined to learn more and continued reading. After considerable research, including viewing these Forex training seminars I still don’t have a firm grasp or confidence in this type of trading investment. There is simply too much to learn about Forex trading and not nearly the time for me to efficiently engage in this type of business. So much for my maternal driven short-term gain efforts!