Why do you trade Forex?

Hi guys,

I want to ask - Why do you trade forex? I know the answer is probably obvious (which probably would be to make more money) But I want to hear the reason in terms of - What your goal is, why do you have this kind of goal and what do you think you will accomplish? Maybe a few details on the ‘Why’ part …

Thank you

1 Like

My goal is to earn a bit extra per month from forex trading. I have very little account currently which I’m growing from last 4 moths (some profit + deposits from pocket). I’ve a plan to make it at least to $600 and then aim for 100$-150$ per month.

Money is a power, Forex is a tool :46:

I trade forex (over other financial markets) because I like the idea of being able to make good profits even when the global economy isn’t doing so well. Also, I prefer that news reports or data that can affect price action be more transparent to all compared to other markets that are prone to insider trading.

I can give you the most basic answer on why i trade forex, really EASY! TO MAKE MONEY!! lol but thats about it…

I trade because it makes for a very exciting hobby and I can do it when I have time for it… and make a little extra cash.

Hi Element, I’m unclear whether you’re primarily asking “Why do you trade?” or “Why do you trade forex rather than other instruments?”.

I see that of the five replies above, so far, one person has taken your question as asking the latter (which was also my own guess), two people have taken the former meaning, and two have answered too generally for their interpretation of the question to be apparent. :wink:

Which are you actually asking?

Hi Lexys,

I meant the former. The latter question would be something to which the answer would be statistical in nature and would not vary much between different people. It probably would be about the volume, the liquidity, the 24/5 nature of this etc…

But the former would vary between different people… I just was trying to just get varying individual viewpoints, ranging from probably to make a few extra bucks, to some one who wants to make mega big bucks to someone who wants to work for self, to someone who seeks to mind their own business etc…

I have now added a poll to this …

Thank you

I am an officer and I want to use my spare time to earn more money with an online business and I chose Forex. Right now I want $50 a week but I aim to achieve $500 a month in several months.

Hi, I’m retired, bored, and watching my savings disappear with the rubbish interest I get from any type of savings account. I looked at Forex and it seemed to answer my requirements. I find that it is nowhere near as easy as people seem to believe, but I’m enjoying the challenge.

Hi :slight_smile: My name is Hali and I am definitely a newbie. I haven’t started trading yet, not even in demo accounts but I do like that trading currencies seems a bit more transparent than stocks or commodities. My goal for forex trading is to be able to earn 1k a week. Compared to some of the other financial goals I’ve seen here, my goal seems a bit aggressive. Any feedback?

I plan on using trading as one of many income revenue streams I will develop this year. Also, I really like technical analysis, I would enjoy spending a couple of hours analyzing charts. I had an idea to focus on EUR/USD only and to analyze the charts from last year. I’ve already setup the awesome new News App on my iPad to deliver news related to the forex market. That way, when I’m ready to trade I’ll also have some good background information. I also heard that NASDAQ is opening a forex market? I figure we must be in the right direction then especially with the world becoming more and more integrated.

Hi Halirodriguez,

Well, $1000 a week ? Everyone says that is way too high a goal… Well, even I have a goal similar to that but I have no idea if that is even possible. I am trading demo, trying some strategies and all the previous 20 trades I made were profitable…

I am not sure how this play in a real account…

Thank you

To earn a financial freedom.

The Forex market, as we know, is the largest in the world interms of daily volume with no other match.
Trading can take place on various securities else than forex like stocks, bonds, ETFs and commodities. But one stands out different from the above mentioned and that is the Forex market. Trading in this market mean exchanging a given nations economy to that of the other. So with this regard, deep understanding of its working is inseparable to the need to succeed in the market.
The other part is that forex has an ample opportunities along with its range of diversification and wide volatility on a daily basis. So tarding this market means a whole lot more than just making money. Me I love it inside-out and it’s my professional job.

We learnt at high school “currency trading” but only on the paper, It was not electronic exchange - no good computets at that time.
I ´ve always wanted to try forex, this is my first year (4th month) and i think im not so bad.

So I don’t have to work my arse off making some one else rich anymore!!

I trade because its my business i hope i can earn 100-200 $ / month and trading is existing particularly automated trading because i love programming as well

I want to trade for living
and have freedom in my “work”

I trade forex because it has the lowest barrier to entry than other markets. I can trade with a small account size (less than $1000) with small position sizes (micro lots) without commissions in a 24/5 market because I work a full time day job. Also instead of thousands of stocks to choose from, I can limit myself to just a few currencies.

Because everything else to me is either a hobby or not reflective of what I enjoy.i have done so many jobs and hated them all but forex is so liberating.