Do you want your money to grow?
Let's say you have $10,000 now in your bank and you want to make it grow instead of spending it all at once. Using it as business capital may be the usual and "safe" option but the problem is you do not have the luxury of time. Well, do not fret because in this blog, I will tell you how you can earn passively by spending only a couple of hours a day in your laptop or cellphone. If you are looking for the best way you can invest your $10,000 without spending too much time, then forex trading might be for you.
When I was younger, the thought of owning a huge sum of money makes me imagine a lot of ways and options on how I will spend it. I can buy a new gadget, splurge into shopping, or spend a vacation somewhere luxurious. But when I started to work and learned the real value of money, I realized that it is not only important to be secure at the present but also think about and prepare for the future.
The reason why a lot of rich people continuously grow their money is because of their wise and effective financial management. One way they manage their money is by investing it. Investing helps you to maintain present and future financial security. It allows you to maximize your time and earn without spending so much time on just one earning opportunnity.
For the avid readers of this blog, I'm sure you already know that I have a regular job and is working 8 hours a day. I ventured into forex trading because it gave me an opportunity to earn while working at the same time. I started small and eventually grew my money after a series of trials and errors. Don't get me wrong. It wasn't a smooth ride. I experienced a lot of losses as well as victories and it took me some time before I finally found the right strategy and discovered the best practices in order for trading to work for me.
So how does it work? In forex, you are trading currency pairs instead of stocks. For every trade, you are selling one currency (base currency) and purchasing another (quote currency). The goal is for the value of the quote currency to increase in the market so that your base currency will have a bigger exchange value once it gets returned to you. The money you invest will grow depending on the condition of the forex market and how well you plan the game.
Forex trading is a relatively new venture for most investors. Most of them used to and are more inclined into investing in the stock market. However, the rise of forex trading has been evident in the past few years because of the better advantages it offers compared to stocks and other ways of investing money.
One of which is the fact that it is beginner-friendly. Yes, you will still have to take time and effort to study the market but it is not complicated at all. Entering the market is easy especially that there a lot of tools and resources to depend on if you are a beginner. Aside from it being beginner-friendly, the forex market also has high market liquidity. This means that buying and selling currencies is fast and easy. Not only that, it's open 24 hours 5 (some 6) days a week.
Lastly, there is a big chance that you will gain profit. This does not overlook the presence of risks in trading but most traders will agree that the amount of money they earn from trading is good enough especially if you're already an experienced one.
I started my trading journey with $100 only. Yes, it may be not be big but I was able to earn from starting small. For this reason, investing with a larger amount of money was scary for me. The uncertainty and risks that goes with trading made it hard to let go of my $10,000 without the assurance that I'll earn instead of losing. I don't know what made me do it but it's as if after a long time of being a trader, I already developed that intuition on whether a trade is worth it or not even before I hit the buy button.
At first, I was losing but I figured that it was going to go back so I held it. Perhaps the confidence stems out from my previous victories. Thankfully, I earned a decent amount of profit after trading only for almost 5 days. As you can see in the pictures above, I tried using different currency pairs and ended up winning in the end amidst the losses in the beginning. My advice for those who will take the same path is for you to set a certain amount of pips every time you trade. This will prevent you from holding too long or too short and do not exceed your limit. Greed lets you hold trades too long and fear doesn't let you hold any trades. It's either you will lose more than your limit or never have the chance to earn at all.
I don't know whether you already have that $10,000 in you right now or you are yet to save it but let me tell you this. If you are gonna invest, invest in forex. Don't forget to do your research beforehand to help you make an informed decision and prepare you for the actual trading experience. If you have questions, feel free to contact or leave a comment below. Goodluck!