Hello! I currently trade stocks and absolutely love it but ALOT of my friends are enjoying forex so I’m here to see what the fuss is about and hopefully make some money.
Hello and welcome to the BabyPips community!
Your first step should be to complete all grades and modules of the BabyPips School of Pipsology.
Once you are done with theory lessons and started practicing on a Demo Account, you may consider creating your own Trading Journal and ask burning questions over at the Beginner Questions section.
Forex, unlike Stock Trading, is a leveraged financial instrument in which you are only putting up a fraction of the total transaction amount as “Margin” while your Broker covers the rest of the position size.
You will receive full profits from the actual position size but be warned that the same applies to your losses.
Hi and welcome
Do you mean acquaintances because I’m surprised you are here if your friends could teach you.
For clarity- most people should know that Forex isn’t the only instrument where you can get levered up. “Stock trading” can be done on margin with a certain amount of minimum funds and experience (all professionals have margin accounts…including me). The derivatives market is the definition of “a leveraged financial instrument”…options contracts trade for 1/100th of an underlying’s stock quantity.
Please ensure you’re doing your own independent research before blindly accepting anyones’ claims (including mine!).
If you need leverage and margin, YOU ARE NOT limited to Forex.
I’d argue the equity derivatives market is the safest place to get levered up.
Welcome Trooth! I hope you’ll enjoy your forex journey as well. Good luck!