Szeri NosBiggs Trading asserts FOREX Is The Best Market For New Traders.
Szeri NosBiggs Trading asserts Forex is “hands down” the best market for new traders. When most think about trading, they automatically think about the stock exchanges eg NASDAQ, NYSE. What they fail to understand is that it costs a lot of money to actively day trade the stock market.
By law, the SEC, requires a large minimum balance for day traders. In this article, I will give you several examples supporting our position. New traders will find it easier to trade the Forex market as day traders and as other short time frame based currency traders in this market. There are some inherent advantage to Forex.
- Trading accounts are available for small deposits . However we do not advise trading with amounts less than $100,000 USD (Loans, Savings, Invesotors, Friends)
- Forex is a 24/7 6 days week open market. Asia Markets open Sunday evening Eastern time and markets are open somewhere until NYC close Friday at 5:00 PM.
- Forex allows any trader, no matter their account size has an opportunity to trade.
- Leverage is a weapon that cuts both ways. Brokers allow as high as 1:400 leverage. Leverage is the same as buying with margin. Stock brokerage accounts do not provide this amount of leverage. All short term traders need high leverage to make the most out of their small incremental wins. Caution (Do not use this advantage unless you truly understand the dangers inherent with margin trading.)
- More opportunities to trade equals more money that can be made. The stock market opens at around 8 in the morning and closes before 5 pm, that is a short window to trade and makes it so that anyone with a day job can’t trade. Forex doesn’t have this problems. Forex is a 24 hours market that you can trade anytime of day. It is a global market with participants from all around the globe trading at every hour of the day, it never closes. You can trade before work and after work.
- Open crossover is another reason why Forex is so great. Although, the Forex market is open 24 hours, it does have several opens. An open is when a regions’ banks start trading. For example, London’s open is at 3 am EST and the US open is at 9 am EST. There are also opens for the Asian countries too. What this means that their is a liquidity being pumped into the market through out the day. When these trading periods cross over you have a huge capital flows moving the market. Day traders and scalpers these periods can offer huge opportunity to make money quickly. Caution Treacherous waters require training.
For these reasons ,Forex is the best market for a new trader to trade. They will find potentially greater success in Forex than in any market.It is also easier to open an account and get high leverage in Forex. One of the great benefits of Forex is that it is a 24 hour market that you can trade day or night. A new trader can go to work in the day and come home and trade during his or her leisure time. It is a market that gives the trader the advantage.
Szeri Nos Biggs Trading suggests that you avoid enter trading without training. Our courses are accessible. Our trading rooms are filled with great traders where you may be able to find a mentor or coach.
