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Who is a trader?
A trader is a financial markets commerciant who's interested in earning profits by managing portfolios. In simple words, a trader is the businessman who buys assets cheaper and sells them more expensive, based on certain trading plan which includes specific details and analysis.
Aimed to high profits and efficiency, a trader must be 3 in 1:
an Expert
a Businessman
a Manager
at the same time.
The most important of them is to be a businessman. The businessman's main task is to arrange all the processes into a system whose meaning is to increase the invested resources.
Or simply, main businessman's fuction is to arrange some processes into a system which gives back profits.
A professional trader is the one who is earning profits from managing the business in a long term.
What is forex?
It is an international currency market (foreign exchange market).
Characteristics:
It is a free market, meaning the prices are made of supply VS demand.
It is a world market, meaning it is not regulated or controled by a single or a certain state/structure or institution.
Is the biggest market in the world, cause every money transfer/exchange/buy/sell is made through this market.
It is an interbanking system, so that it can be used to trade via a brokers and specially designed for trading platforms which can be installed and used by a simple computer or/and smartphone located wherever a trader wants, all over the world.
It has the biggest possible liquidity, cause the good echanged to money is already money.
It works 24/24, 5 days a week, meaning very confortable trading hours available.
It does not have an entrance threshold, meaning the trading can be started with any amount, cause it seems like a simple echange. As a result, the profit depends on how big amount is traded.
It does not enforce certain complicated studies, licences, or other, just a simple trading courses which is being provided by trading schools or trading clubs, as TradersTime, who offer this kind of courses.
Why do we need it?
"It's not a must, but it's needed for inteligent people to earn money in clever legal methods..."
Everything in the world is bought and sold. So, in this case, the world economic blood system is forex. And who knows how to deal with it is going to take all the profits and all the advantages of the highest step in business world. Without forex economic system could not exist at all, so we would get to stone age.
At now moment, newest type of currency is crypto currency, but it's anyway currency.
Trading is made on forex with currency, on crypto market with crypto currency, on stockmarket with stocks, indexes, etc.
who are financial market participants?
Eveyone who has exchanged at least 1$ is already a participant, even if he doesn't realize this at all. But in this case, he is not a professional trader, so he might not earn profits of that deal.
There are 6 categories of participants, one of them is traders.
Trader - is such an occupation, which includes experts knowledge, businessmen actions and managers discipline. All in one person.
That is the profitable trader.
What is most needed for a trader?
Simply:
Knowing (what? when? how?)
Acting (buying cheap & selling expensive)
So, he need to know how to make money and to make it.
And if we talk about longterm business, is also needed:
Reinvestment
Diversification
Wherefrom to find out about all of this?
2 options:
Acting and then learning from the results. Which is a long and a painfull way.
Learning first and then acting. The fastest, cheapest and easiest way.
"The easiest way of getting from A point to B point is using a GPS system..." in our case trading courses is the GPS system.
How do I start a business on forex?
1st step
First of all, you need to realize if it is your confortable space of life living:
To know market concept, it's characteristics, it's participants and inside processes.
To know why and how the prices change and which are the symptoms before its change.
To know all the instruments, steps and strategies to well managed trading business.
For getting first step done, take the course
Young Trader >>
and then pass the test.
How do I act the forex business?
2nd step
Take traders workshops and practice which consist of 3 stages:
Try every of trading soft instruments
Arrange them into some strategies and practice
Choose the best strategy and build the full businessplan, including trading plan, financial plan and action plan
Take the exam and act.
ANd then what ?
Then you earn profits and continue managing your revenue:
Income - costs = profit.
A part of profit should be reinvested.
After 3 months of permanent profit, you should go to next course Trader PRO, where you will learn how to increase your profit to next level.
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