A lot of people would say that fun is subjective, and to some extent, it certainly is. However, there are also a lot of way that a particular subject can be fun for everybody. The only real obstacle to doing this is the willingness of people to keep an open mind and truly give something a chance. This applies to Foreign Exchange as well, or Forex, as it is more commonly referred to.
What Is Foreign Exchange?
Before you learn what makes Forex fun, you first have to understand what it is. The best way to describe it is by saying that it is the Money Changing business that plays on the trillion dollar level. It’s basically you buying and selling currency in the most liquid market in the world. In terms of sheer amount of money involved, the Forex market dwarfs the entire global stock market.
What Makes It Fun?
All right, so here is where things might get a little complicated, but stay with me. The magnitude of the market you are entering and the stakes involved can be incredibly intimidating, and the simple involvement of numbers might make people think that it’s all about math. However, this is simply not the case. If anything, the biggest challenge involved with Forex trading is your own fears.
Once you overcome your psychological barriers, you will find that becoming a Forex trader is less about knowing numbers and more about controlling urges. In most cases, you basically set how much you want to get versus how much you want to lose and for a lot of people, this is and of itself is where the fun is at.
You are betting against yourself and the market during this process, which is plenty exciting as it is. The interval between placing your settings and waiting for the results is intense. You don’t know which way it will go and how far you can take it.
However, once you hit the target you have been aiming for, the reward centers of your brain absolutely explodes and you experience a rush much like what you would experience when you overcome a mountain of a goal.
Before you start thinking that Forex is quite similar to gambling, however, it’s important to note that it is not. In gambling, very few things are under your control. In trading, you are meant to bet based on the movement of the market. On that note, there are those who are unable to control their own emotions, which can make their trading activities go in two general ways (making it look like shopping online using discount code from lazada voucher code for new customers more fun!) .
There are those who are too greedy and try to push things too far, thus ending in them losing all of their money. There are also those who become too anxious and pull out too soon, earning them very little or nothing at all.
As depressing as these things may sound, what you should keep in mind when doing Forex trading is that your biggest enemy is yourself. Don’t give in to greed or anxiety, and a lot of the most enjoyable things about Forex become more acute.