Binary Options: The Best ‘Side-Hustle’ for a Forex Trader!
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As far as I am concerned, there is no other business that is as exciting as forex trading. I have yet to come across one. For these two reasons: Its a very liquid market, meaning the amount of buying and selling volume happening at any given professional binary options traders kenya is extremely high. I was quite amazed that with forex market, I could trade 24 hours a day.
I could put in a trade at 8 a. The forex market starts each day in Australia and ends in New York. I professional binary options traders kenya Sydney and Hong Kong a bit slow. London and New York were more potential for me. After doubling my professional binary options traders kenya within a mere two weeks, I felt like I had reached the financial seventh heaven.
But what is the forex market? And can you make good money with it? The forex market is a market where by participants are able to make money by buying and selling currencies for example, banks, hedge funds retail traders and others.
Forex trading is done through a broker. I personally used FX-Pro. There are many more. A word of caution, though. The market usually deals with symbols. We also have the major currency pairs. There are two major ways to analyze the forex market for trading.
Fundamental and Technical analysis. Fundamental analysis is the study of how global economic news and other news events affect financial markets. The GDP and interest rate announcements are major news that affect the forex market. Technical analysis on the other hand studies the price movement on a chart of a certain currency pair.
Patterns that tend to repeat themselves are looked for. Support and resistance levels are one such example. Its very easy to be greedy in the forex market. I learnt that too well. You might place a trade, and if it goes to your favour, and you make probably 15, 20 or 40 dollars, you decide to place another trade, for absolutely no logical reason. Or one might place a trade, and it goes in their favor. One might then decide not to take the profits where they had previously decided simply because of greed.
They want to get more. Some forex traders also risk too much on a trade from the very start. The point here is that greed is a quick destroyer of forex accounts. Usually, when a forex trader keeps on losing trades, they become very fearful. Fear will conquer you. One almost becomes paralyzed out of fear.
Success on the Forex markets depends not only on the strategy one is using but also also how one manages their professional binary options traders kenya. Sadly, I got burnt. I let greed and fear overwhelm me and boom! My account was no more and I awoke from my dream to become the next George Soros. However, will I trade forex again? Definitely and this time, there will be no turning back. The lessons have been learned. Check out this sites for more info: And remember, your comments are very welcome.
If you could help where i can be able to get to know the professional binary options traders kenya in FForex and the market I will be very grateful. You can check out this group on Facebook.
But be cautious and do your due diligence. I trade the Forex Market on a full time basis and would like to find out from you based on your article as to whether you know any forums or chatrooms in Kenya where FX traders are.
Av been scouring the net for quite some time and am yet to find any. Though there are many FX businesses in Kenya professional binary options traders kenya to teach professional binary options traders kenya forex, i came to the realization that most of them have very basic knowledge and i decided to teach myself the same.
Anyway, if you do know of any just let me know so that I can share my ideas with them to further improve on my skills. Hi Sheeroh, great content here though i think am about 2 years too late, just got to know about binary options and i think it is a great field to get into. I was wondering with your great many connections, do you know of someone who has had success in the field??
Great professional binary options traders kenya on you part as a trader. Just starting out in forex its exciting indeed peeps. With good guidance then boom you will be at that place. Hey sheerow, its quite impressing to see how mindful you are for those who wish to venture into this business. I really want to get into this business but i hav no idea of how to go about it. How can i get in touch with you through your address maybe for more assistance.
Thanks for sharing your experience. Introducing brokers can help you open accounts and guide you accordingly. How do Professional binary options traders kenya get an honest broker not necessarily here in kenya. I professional binary options traders kenya its a joke before when one of my colleagues introduced me but he does it on my behalf at cost no regrets, but would like how to go about it by myself.
A similar article on Forex Trading in Kenya, be sure to read it also. I would like to enter in forex trading, where can I get the training and possibly appoint a broker to assist with expert training. Thanks for your interest. Please contact one Ken through his email: He will be of great assistance. I want to first pay an expert for some brief lessons and exposure.
Thanks for passing by James. Yes, its very important to get training in Forex. Its a great business done the right way. And yes, I will check your blog out.
I have seen the Binary and Empire options online. Is the platform the same for all forex trading? Hi Veroh, First of all Veroh, thanx for your comment. It was quite professional binary options traders kenya experience but professional binary options traders kenya still a great business to venture one, with adequate training and the professional binary options traders kenya frame of mind.
To answer your question, the platform for Binary and Empire are not the same as Forex though I never ventured in the former. Keep it here, stay tuned for more great stuff. Well said Ruth, Forex trade is for the sober minded.
Fear and Greed are the main downfalls of many traders. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Definition The forex market is a market where by participants are able to make money by buying and selling currencies for example, banks, hedge funds retail professional binary options traders kenya and others.
Fundamental and Technical Analysis There are two major ways to analyze the forex market for trading. Greed Its very easy to be greedy in the forex market. Fear Usually, when a forex trader keeps on losing trades, they become very fearful. Thanks for your comment! Thanks alot sherroh, such a valuable advice for a beginner like me. Big ups, keep it up!
Hi I would like to enter this bizness. How best can i do that? Quite an interesting and encouraging blog. Sheeroh keep it there. Comments are welcomed and encouraged on this blog, But they should be relevant to the post topic and useful to the readers. Cancel reply Your email address will not be published.