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FOREX TRADING AS A PROFITABLE HOBBY

As you grow older, you will also have to look for alternative hobbies. In most cases, you won’t get the time to have fun outdoors every day, yet you still need a hobby that will keep your mind sharp. If you’re in such a situation, perhaps you should consider Forex trading, which involves making predictions on the price movements of foreign currency pairs.

How can Forex trading be a hobby?

Several reasons make Forex trading the ideal hobby:

You get to make money while doing it

Most hobbies may require that you put in money without the possibility of a return, but Forex trading presents the reality of potentially huge returns.

It’s available 24 hours a day for 5 days

The fact that the Forex industry runs 24 hours a day allows you to fit the activity into your schedule without sacrificing any important tasks.

You can take it with you everywhere

You can always trade the Forex markets on your smartphone, tablet, even at an Internet café because it can be accessed on several platforms. Therefore, it is the kind of hobby that doesn’t tie you down to geography. For example, a mountain climbing hobby will require a very specific location with the necessary landscape, which may be unavailable in some areas, but the Forex market will always be accessible. Unless you’re in the middle of the desert and have no internet coverage.

It’s exciting

Ever since I started trading the Forex market, I have become more aware of what’s happening around the world. This is exciting for me because I get to learn a lot more about the world; others may like it so that they are able to show off to their friends at a party. Whatever your reason, there will never be a shortage of excitement, such as the thrill and anticipation of waiting for an economic news announcement.

It keeps your mind active

The brain needs to be stimulated to keep it in shape, like exercise, and the complexity of the Forex industry is enough to do so. You will always find yourself learning new stuff, which keeps your brain active and will improve your performance in other areas of life.

What to remember

Just because it’s a hobby doesn’t mean you should take it lightly. Some people like mountain climbing and others playing video games, but they still take these hobbies seriously. A hobbyist puts effort into their hobby to make sure they are really good at it, and you should do so too if you take up Forex trading as a hobby.

This means studying everything about the Forex market – from learning common Forex terms, trading strategies and keeping yourself updated with the daily goings-on that affect the markets. In short, take your hobby very seriously. Also remember to be careful with your investment. Forex trading is risky and you can blow all your investment, so you should always remember it’s real money on the line. The, you will need to find the best broker for you and choose from the ones available to you like this list of brokers.

Finally, be patient but do not force it upon yourself. The truth is that Forex trading is not for everyone. Some people thrive under the pressure of Forex trading while others crack. Try to be patient with yourself for a few months, and if you can master your emotions, then you will become a better trader and person. Otherwise, you may have to accept that this business just isn’t for you and avoid years of disappointment. After all, not everyone can become a chess grandmaster just because they practiced for a decade.

 

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
John M. Bland, MBA
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EXCLUSIVE: Global-View Free Forex Database updated




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Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

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The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

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Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

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Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

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