Forex trading is often described as a stressful endeavor. Staying awake during the Asian session, watching squiggly lines all day and trying to control your sweaty palms ahead of major news announcements aren’t everyone’s idea of a good time.
Of course, some forex traders wouldn’t have it any other way. But for those of us who want to have fun and invest, forex trading is a one-of-a-kind pursuit.
Just as long as you don’t lose money, of course.
We’re not here to bore you with another forex 101 crash course. I’m sure most of you know how to calculate a pip or set your MT4 charts to 4-hour terminals. Instead, we are here to remind you of the fun aspects of forex trading – the fun-damentals, if you will!
Below are four reasons why forex trading is really a lot of fun, and why you should appreciate these subtleties from time to time.
Forex trading requires no formal qualifications
Going into finance requires a four-year degree and a whole bunch of other designations after your name. But becoming a trader? No formal education is needed.
In fact, some of the world’s best traders had no formal education in the markets.
Forex trading has a low barrier to entry, but becoming good at it is a lifelong pursuit. The option of demo trading means you can practice until your thumbs fall off without having to actually spend a dime on formal education and gain experience.
Forex trading is a brotherhood/sisterhood
Contrary to popular perception, forex traders aren’t some loners who stay up all night staring at dual monitors (not like there’s anything wrong with that).
Forex traders are always connected with other forex traders, sometimes in other countries and continents. If you don’t believe us, go check out how many message boards, trading rooms and social media groups are dedicated to forex.
Forex trading is a hobby that could actually benefit you.
Most people have hobbies, but how many of them could actually benefit you? While forex trading offers no guarantee of success, it does provide you with an amazing opportunity.
If your hobby is football, you can get pretty good by kicking the ball every day or joining an indoor league. The same rules apply to forex trading, except they are more benefits.
Forex trading makes you well read
There’s perhaps no better way to get informed about the world around you than by becoming a forex trader. That’s because traders know they have no choice but to read the news every single day.
And not just any news. We’re talking The Wall Street Journal, Bloomberg and The Financial Times. This makes for some interesting small talk with family, friends and colleagues. It also makes you sound really, really smart.
Robert Main (18 December 2013). “Trading 101: The Fun-damentals of Forex Trading.” Prop Trading Futures.