James E. Dicks Jr.

United States Marine Corps veteran · Emmy Award-winning producer · Author of eleven books

Consider the FOREX Market

We’ve all been living in a period of economic uncertainty for far too long. People everywhere are searching for profitable investment alternatives to the stock market and many are currently taking advantage of the recent condition of the national Real Estate market, while others have turned toward commodities. But tens of thousands of investors around the world have found the Foreign Exchange market, the (spot) FOREX market. It’s a solid investment alternative and, with the proper education, it can help you restore your personal financial well-being. That’s why the (spot) FOREX market is traded by people in almost every country on the face of the planet.

Startup costs are low when you compare the initial costs of getting into the stock market.  Plus, by comparison, the FOREX market dwarfs equities on a global basis so there is absolutely no chance of anyone controlling the foreign exchange market. The daily volume of the FOREX market in North America back in October 2005 was about $440 billion but it has now grown to a volume of four to six trillion dollars a day!   That’s more than all the world’s stock markets combined.

When you are searching for that "perfect" investment opportunity in the stock market you are forced to filter through more than 40 thousand stocks which can be confusing and extremely time consuming.  Not so in the FOREX!  You can literally trade just six major currency pairs tied to the U.S. dollar.  That’s it!  Or you might just select one or two currency pairs to watch on a daily basis.  I’m sure you’ll agree that’s a much easier plan.  And, you can make money when the market is going up or going down plus there’s no reason to wait for an opening bell to sound since the FOREX trades 24 hours a day, six days a week.

By the way, if you are a stock trader and accustomed to technical analysis and charting techniques, I believe you’ll find that a shift to FOREX will be seamless since it moves in very identifiable patterns. The FOREX market is the most liquid in the world today; investors and traders can almost always open and/or close a particular position at a fair price.

Accessibility is another strong point for FOREX traders.  With access to an Internet connection, you can trade from anywhere on the planet and actually make money trading only a few hours a day or week (by the way, these are hours that you choose…hours that fit your personal schedule) right from your personal computer.  Allow me to mention a single word that is perhaps the most beneficial aspect of the FOREX market – leverage.  FOREX offers up to 100:1 leverage!  You won’t find that kind of power in other, more traditional, investment opportunities.

And here’s another advantage to trading the (spot) FOREX. No matter which trading platform you decide to use, you can begin trading currencies without risk by using a "demo" account. Just set up a hypothetical account and practice before actually using "real" money.  Set up your demo account anyway you’d like but I highly recommend you create an account that realistically simulates the dollar value/amount of the "real" account you will eventually set up.  Then practice until you feel comfortable with your FOREX trading strategy.

You will no doubt want to expand your FOREX trading horizons very quickly but make sure you receive the education you need before leaving your "paper trading" account behind and taking your account to the next level – using your own money.  Just like anything else, there is a learning curve involved in becoming a competent currency trader.  Hey, when you learned to drive you had to practice a little before actually going out on an active, busy highway. So make sure you get a solid educational background and demo trade an account to understand the intricacies of trading the FOREX before you invest your own "real" money.

I also invite you to sign up on my JDfn social networking website. You’ll be able to learn the strategies and latest events occurring around the (spot) FOREX market from professional traders and other FOREX traders, just like you, around the country.  Just visit JDFN on the Internet and sign up today….it doesn’t cost you a thing but I’m certain you’ll find the information on the site extremely helpful.

It’s always more fun to trade with someone – whether it’s with your spouse, a neighbor, a relative or someone from work. Consider starting a trading group in your area so you can help each other become more successful and profitable by trading the FOREX.  Trading is fun and can be financially beneficial! If you haven’t done so already, consider the (spot) FOREX market. It’s an exciting and potentially profitable trading alternative and a great way of diversifying your individual financial portfolio.

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