Any time there’s financial speculation involved, whether it’s gambling in Vegas or playing the stock market, people want to find a “system” that ensures success. The forex market is no different in that regard. But is there a forex system that will eliminate risk and guarantee profits for the investor? If you believe there is, we’ve got a bridge in Brooklyn we’d like to sell you, too….
The foreign exchange, or forex, market is relatively young, having begun in the early 1970s after the United States dropped the gold standard and national currencies started to fluctuate widely. For about 30 years prior to that, most nations had agreed to keep their currency values stable in relation to the U.S. dollar, making a forex market unnecessary.
Being a forex trader is not for the faint of heart. The foreign exchange market is a fast-paced world that operates 24 hours a day, 5 and a half days a week. For some traders, fortunes are made and lost very quickly. Yet for someone with the right know-how and enough motivation and drive, forex trading can be rewarding both personally and financially.
No sane person would jump into the forex market blindly. You might as well set your money on fire if that’s what you’re going to do. Sensible investors study the market carefully first, learn the ins and outs of currency trading — and even then, before they launch into it, they devise a smart forex trading strategy.