When people ask me what I do for a living, and I respond with an answer like, “I’m a work at home forex trader”, the response I get is usually some variant on “huh?” It seems that most people have never even heard of “forex trading”, let alone know that it is a viable career option in the twenty-first century.
I was at a party last week with my wife, and a gentleman I met that evening asked me the same question. When I told him what my occupation was, he asked me, “oh, is that like the stock market?” I said in general, yes, but simpler.
Most people only think about different currencies when they are taking a vacation and need to exchange money, or making a purchase online from a different country. They are completely unaware that currency trading is a multi-trillion dollar industry that anyone with a computer and a high-speed internet connection can get involved in. But to be fair, up until about 2 years ago, I didn’t really know anything about forex trading either.
So in that spirit, here is my list of the top reasons I trade forex from home!
1. Profit
The money — Obviously, the number one reason I love to trade forex. Trading forex pays my mortgage, paid for my new car, our recent home renovations, and many other things that contribute to my quality of life.
2. Comfort, flexibility and freedom
Trading forex allows me to work when I want, where I want, and how I want. The global currency market runs 24 hours a day — so I can trade whenever it is most convenient for me. If I have a late night out, I can sleep in and work a little bit later in the evening. If I have things to do during the day, I can work around them. If I have things to do during the week, I can work on the weekend. I can also trade in my pajamas! And since everything is online, I can trade from wherever I am in the world — all I need is a laptop and an internet connection.
3. Excitement
I can’t deny it — I get a rush from trading.
LOL — I get the same thing!! I find alot of the time, It’s easier to just say I’m a stock trader
Nice article….keep on posting such useful things…
I’ve never tried forex before. Would you recommend it to a newbie?
Hi CrossCountry. Well, the great thing about forex is that the mechanics are a lot less complicated than stock trading. You only have to focus on one or a few currency pairs, and whether to buy or sell. Once you’ve mastered the basics, you can get more complicated. 20 months ago, I was a newbie too, and I’ve come farther than I thought I ever would!
I’m planning to write a beginner’s guide to forex soon… I will post it here on the blog.
hearing more and more about Forex trading. Need to look into it more
I am deeply in love with every single piece of information. I didn’t really know anything about forex trading either.
Hey me too heard about “forex trading” first time about sounds interesting I would like to know more about this…Thanks for the post.
I have no idea what forex is. It would help if you went into more detail about how you made a profit off it though.
Thanks for the feedback. I will be writing more detailed posts soon.
One of my friends ventured into this recently, but is finding it hard going to start as he had little capital. What kind of capital outlay is sensible to allow for ‘working capital’ and covering the odd loss you are likely to make?
Also, I’m sure others would be interested in what systems you use – if it’s not a secret!
Hi Syn,
You just gave me two great ideas for posts. For the moment, I will say that as far as capital requirements go, I have heard of people starting with anywhere from $200 to $50,000 or more. Obviously the more you can start out with, the better. But there is something to be said for starting small — it allows you to get your feet wet, get in the swing of it, and understand the personality of the market. Once you’re comfortable with that, you can invest more.
I wrote an article once about Forex traders, but I never realized that some of them work at home. It seemed like one of those have-to-be-in-the-action sort of situations. This was a big eye opener. I feel a career change coming on for myself…maybe. Hah, thanks for the post.
[...] I received great feedback from my first post on this blog, Top 3 reasons why I trade forex from home. Some of the comments made me realize [...]
The other great thing that you didn’t mention is that forex is not conducted on a centralized exchange, but rather a series of interconnected computers. For this reason, brokerages can exist either in the US or overseas (offshore) and a wiley forex trader told me that they don’t have any us tax reporting requirements — unlike the US stock options and futures brokerages.
From last years I am showing that Forex Trading Market is growing up. I don’t know more about forex trading market. but reading this post, i understand with some knowledge of Forext Trading.
Don’t you just make money in forex when someone else loses money? What if the supply of losers run out, how do you make money then?
Its a very good post that i was looking for, Thanks bro
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Well, the great thing about forex is that the mechanics are a lot less complicated than stock trading. You only have to focus on one or a few currency pairs, and whether to buy or sell
Interesting post. Finding out about Forex every day
Forex really is quite an easy way to trade.
Not much experience is needed either.
Forex seems so very interesting and I love to try one.It looks to me that it can create lots of money. But how? Can you give me some important details on how start Forex trading? =’p
Forex seems so very interesting! I hope I could lean on how to trade. Do you have any blog for newbie about forex trading?
I am not a Forex trader, however i also work at home. And once you find the “way of money” you ‘re done. It’s amazing. Success Chris. Oh you already achieved it.