If you want to learn more about trading, Greg Secker recommends starting with forex. After you sign up for your account, you will see that there are some similarities to the equities market. However, there are some distinct differences. One of the best aspects of forex is that you do not have to start with a huge investment.
Is Forex The Right Fit For Me?
Do you have all day to look at charts? Do you like complex trading? If your answer to both questions is no, forex trading is probably a good fit for you. The forex market is global and always accessible. It changes when reports such as major events, job numbers and retail sales are released. There are software programs that quickly analyze charts for you. With inflation in the United States causing the dollar to decrease in value, the UK forex market is a smart choice. You can make money without being taxed.
Many people have a misconception that the forex market is unsafe. If you have a poor strategy, you will see why people say this. However, if you have a robust strategy for risk management, you will find that the forex market is safe. Also, there are so many software programs with helpful tips and tutorials. Some have built-in loss prevention tools that prevent you from losing more than a certain percentage of your trading balance.
Which Forex Indicator Should I Use?
I never recommend a specific indicator to every person who asks me this question. The reason for this is because I want you to find the one that works best for you. For me, it may be one option. However, you may find that another indicator works better for you. Indicators break down charts and analyze them for you. They track the lows and highs of trends and use the data to show you helpful graphs. Although people commonly use the Exponential Moving Average or EMA indicator, you must learn the ropes of the forex market to determine which one is your ideal choice.
In the 1960s, the Stochastic Oscillator was released. It is useful for plotting market directions. As a momentum indicator, it compares the range of securities over a certain period with the closing price. Two decades later, the Bollinger Band was released. It has a center line that is an EMA. There are price channels below it, which are the chart’s standard deviations. When prices become volatile, the bands contract and expand.
How Can A Calendar Help Me?
Forex traders soon learn that market reactions are less predictable for shock news releases than for regular reports. For example, a major decision from the US Federal Reserve Committee in 2016 led to a spike in interest rates. The initial Brexit decision of 2016 also led to volatility of the pound. However, such issues are harder to predict without the help of an economic calendar. You will have a head start to making more profitable trading decisions with an economic calendar. Problems can be plotted with ease and will not surprise you when they happen. However, there is still a currency impact when they happen.
One of the things that I emphasize when I recommend forex trading to people is the benefit of being able to make money whether the market is on an upward or downward trend. Although there are currency drops, you are still a winner if you happen to be short on that particular dropping currency. With time and technology on your side, learning the forex market is something that anyone can do with some invested effort and determination.
About Greg Secker
Greg Secker was born in 1975. He is a master trader, entrepreneur, international speaker and philanthropist based in London. Also, he is a proud father. In 2003, he founded the Knowledge to Action Group, which includes several global trading giants. The group earned a finalist spot in the 2009 London Excellence Awards. In 2010, the Sunday Times Fast Track 100 Awards listed the group as one of its top 50 companies of choice. Mr. Secker is also the founder of the Greg Secker Foundation. The not-for-profit organization works to improve the lives of disadvantaged people around the world. Mr. Secker started his career at Thomas Cook Financial Services. He eventually shifted to foreign exchange and ran a new business called VTD. The company was the first real-time forex trading platform online. It gave customers the chance to receive instant quotes for major foreign transactions. After succeeding at VTD, Greg Secker became Vice President of Mellon Financial Corporation. He worked for a while in the United States at a major Fortune 500 investment bank. During his time there, Mr. Secker was able to work with some of the world’s best traders. He learned and discovered new strategies by traveling to international trading floors.
When his personal account grew exponentially, Mr. Secker made the choice to leave Mellon Financial Corporation. At that time, he set up a trading floor at his own home. A few months later, he named the company Learn to Trade. It has been growing fast for the past 13 years, and it expanded across the globe. Learn to Trade has offices in the Philippines, South Africa, London and Australia. The company has helped over 200,000 people learn how to trade through workshops, seminars and special programs. Mr. Secker puts philanthropy as a top priority in his personal and business lives. Learn to Trade was ranked number 17 on the Philanthropic 30 Most Caring Companies in the UK list. In 2017, Mr. Secker was ranked number 151 on Richtopia’s list, which is a list of the top 200 most influential social entrepreneurs and philanthropists. To be on the list, a person must proactively increase social awareness of critical global issues. In his spare time, Mr. Secker spends time with his family and is grateful for every minute of it.