This is a question every trader asks at one point in time in his/her Forex trading journey. This statement pops up in our minds when we analyse how things are going in our lives relying on Forex trading as a source of livelihood. Everyone has a positive dream of acquiring riches and wealth from the Currency market but when things don’t go as planed, we start to see our dreams as a fallacy, a fairy tale. This is when you start soliloquizing and thinking is Forex trading worth it? Actually if we erase knowledge from the equation and just focus only on the prerequisites needed to trade the FOREX markets, it is actually worth it but lets take a deep look at some factors required in Forex trading and justify ourselves if Forex trading is actually worth it or not.
The start up capital to venture into FOREX as a business is absolutely insignificant, with as low as $20 which is equivalent to N3,300, one can start trading the currency markets. With appropriate skills and knowledge, an investor can grow such funds to a reasonable amount over time. Tell me how many lucrative business you know that requires such a little capital to start-up with. I know of a friend that started with $20 and in less than 3 months of trading, he’s account is already in thousands with constant withdrawal being made every week.
In other businesses electricity is a paramount factor to be considered. Without constant power supply 24 hours 5 days a week, businesses can not thrive. We all know that 99.99% of businesses depends solely on electricity. However in Forex trading, you do not need 24/5 power supply, as long as your laptop is fully charged, you are good to go. This mode of operation depends on the traders trading strategy, trading currency markets doesn’t require 24/5 monitoring of the market. It can also be done in a part time manner and yet the money still keeps rolling in. Once you know how the market structure works, you will realize you do not need to be on the computer system always. Timing is a major factor required to make it in Forex trading. As long as your laptop has saved power, all you need to do is come during these time, place your deal and off your system.
It is imperative that every business owner pays tax to the government to enable constant flow of business operations else this can cause so much problem and interrupt the affairs of the company, be it a small, medium or large scale business. Even entertainers like footballers, actors, boxers, musicians, comedians etc pay taxes to government bodies. This is not in the case of Forex traders as you are not entitled or obliged to pay any form of tax as long as you do your trading from home via your computer system. The only time you get to pay a fee is when doing bank transactions which is normal for every bank customer.
4. Office Space
Every business need an office space for business transactions to be initiated which requires so much standardized packaging. The nature of each business will determine the kind of office space required to attract clients. This is not the case in Forex trading, your office space is electronic since all business transactions takes place online. Maintaining a physical office can be very expensive a times with renewal of such space yearly and also other factors involved in keeping the space clean and intact. In e-office, you only need your laptop or computer system to be in good form for business operations to take place. The only threat that could happen to your e-office is if attacked by a virus or spyware or hackers. Another major constraint that has been amputated is the renewal of office space. A computer system which acts as an electronic office can be made use of for 5 years at a stretch without changing it which is economical for Forex traders.
5. Marketing, Advertising and Researching
Generally business involves the buying and selling of goods or services with the aim of making profit. So for a business to take place in the first place, there has to be a buyer and a seller. If you happen to be a seller, you have to device a manner of marketing your merchandise, be it goods or services. Also if you happen to be a buyer, you would want to do a vigorous research to know where to get the best products at the best affordable price. Wow this is a major reason i love Forex, there’s no need of marketing or advertising or researching plans because there’s always a buyer and a seller at every moment in the market waiting to transact with you. In fact you can act as a buyer and a seller simultaneously and still be profitable, have you ever heard of this before in other businesses?
6. Time and Freedom
The best part of Forex trading as a business is the availability of time and freedom. The regular routine of a civil servant is 8am to 4pm and sometimes could be more than that. These means that a civil servant has to wake up very early in the morning and try to get to work before 8am depending on the distance from home to work. Then when coming home again, you face a heck of a traffic and you are already stressed by the time you get home late. Some folks even work on weekends and barely spend time with family and friends. The funny thing is that this has destroyed a lot of marriages, relationships , parent-child bond etc. This is a form of slavery to me because even as much as we want financial freedom, we also need quality time to enjoy life. Some people live more than 80% of their life span with this same routine, a reason why some folks develop health issues on the long run.
There are many more reasons why Forex trading is worth it but mind you all these reasons only apply if you have the right skills and knowledge to trade and be profitable in Currency markets. If you do not have what it takes to be a profitable trader, then Forex trading isn’t worth it. Believe me Forex trading has destroyed a lot of lives causing divorces in marriage, high blood pressure, sight issues, school drop-outs etc. Forex trading is the most emotional profession on planet earth so think twice before venturing into it. It is meant for highly inclined spiritual beings not even for men with strong hearts. Forex trading is not meant for everyone even though its the easiest way to get rich and acquire wealth.