A Horrific Behind-the-Scenes Look at Forex Trading - Don't trade Forex!

Have you ever thought about trading forex? Here are some facts you need to know before you get started.

Intro: 0:00
Pros of Forex Trading: 0:29
Cons of Forex Trading 4:03
Summary: 9:59

The fascinating world of Forex. You see, it’s super easy to find the pros because there’s no shortage of ‘Forex Gurus’ out there telling you they’re the greatest thing ever!

So let’s cover some of the pros of the Forex markets.

1. It’s open 24 hours
Well, the first one that everybody tells you is that it is open round the clock.

So it’s not like trading stocks where you have regular trading hours and then a few extended hours.

No, it means that you can trade it 24 hours a day through the business week.

It is the market that never sleeps. Now, we are trading from 5:00 p.m. on Sunday until 4:00 p.m. on Friday and these are Eastern times.

But as you can see, it is open all the time. And this is intriguing to many people because they have still a daytime job and then they want to trade at night or in the evening or early morning.

And this is one first pros you hear often about the Forex market.

2. “It’s the most liquid market in the world”
There is another pro, this is where people say, “It is the most liquid market in the world.”

What do they mean by this?

It means there’s a lot of volume going on.

I found that the average trading volume in the Forex market is around five trillion dollars every day.

Now, in comparison, the New York Stock Exchange is making around 160 to 200 billion dollars. It’s peanuts compared to what’s happening in the Forex market.

So this is why the Forex brokers tell you, “Why wouldn’t you participate in the most popular market in the world,” right? The most liquid market in the world.

And if you’ve ever been caught in a trade that you couldn’t get out of, you understand what a plus it is to have a very liquid market.

3. No commissions
What is another advantage here of trading Forex? Well, you have absolutely no commissions.

These days, as you know, commissions have gone away for trading stocks. They are still there when you’re trading options and when you are trading futures.

So, of course, it is super attractive when Forex trading says that there is no commissions, why wouldn’t you do this?

When most people start trading, they’re trading for growth typically due to their account size (or lack thereof). Because of this, doing anything you can to preserve capital (i.e. no commission) can be very appealing.

4. Free tools
Brokers are telling you, “We give you free charts and tools.” You get calculators, you get charting software, you get everything for free.

Anyhow, with Forex trading, it was always free and it will always be free. Sounds good thus far, right?

5. You can start with as little as $10
So let’s talk about the fifth advantage here. You can actually start with as little as $10.

Can you believe it?

Most brokers ask you to fund your account with at least $500 or $1,000, and if you want to trade stocks and options, it makes sense to start with around $2,000 to $5,000, right?

Here you can start with only $10.

I Googled “Best Forex Brokers 2020” and I found the minimum deposits for these brokers are $100, $10, $0, $200, $100 – super easy to fund, and you’re getting a leverage of 500 to 1.

To get the full transcript and MP3, go to: https://www.rockwelltrading.com/coffe...

=============================================================================================
✅ First, subscribe to my channel here so you never miss a new video: https://bit.ly/3aLKLDz
📺 Watch My Daily Trading Routine that takes me less than 15 minutes a day: https://go.rockwelltrading.com/my-tra...
📕Get a FREE Hardback Copy Of My New Book “The Wheel Options Trading Strategy”: https://go.rockwelltrading.com/the-wh...
💻 Need a broker? We prefer trading using Tradier! Sign up here: https://go.rockwelltrading.com/tradie...
📈 TradingView is my favorite charting platform. I use the Pro Version: https://go.rockwelltrading.com/tradin...
================================================================================
tastyworks, Inc. (“tastyworks”) has entered into a Marketing Agreement with Rockwell Trading Services, LLC whereby tastyworks pays compensation to Rockwell Trading Services, LLC to recommend tastyworks’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Rockwell Trading Services, LLC by tastyworks and/or any of its affiliated companies. Neither tastyworks nor any of its affiliated companies is responsible for the privacy practices of Rockwell Trading Services, LLC or this website. tastyworks does not warrant the accuracy or content of the products or services offered by Rockwell Trading Services, LLC or this website. Rockwell Trading Services, LLC is independent and is not an affiliate of tastyworks.