Episode Details

Podcast:

What Is Forex and How Do You Start Trading?

In this video:
00:26 – The basics of Forex trading
00:46 – Coronavirus and the need for additional income
01:11 – Forex is the best market to trade – here’s why
02:10 – Trading currencies in pairs
03:16 – You can also make money when the Currencies fall
05:16 – Allows you to work from home and create a passive income
05:50 – Clients can become full time traders
06:15 – Emails from clients, excellent trading results
07:57 – You need to start with the basics

What is Forex? How do you trade the Forex market? How do you get into it, and what are the benefits? Let’s talk about that and more right now.

Hey, traders. it’s Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 359.

The basics of Forex trading

I want to take a step back this week and talk about the absolute basics of Forex trading, what it is, how do you get into it, the process you need to go to, seeing if you’re the right fit, et cetera.

So if you’ve been trading for a while, I apologise that this is going to be more of a newbies video and podcast.

Coronavirus and the need for additional income

But the reason I’m making this right now is because with the coronavirus issue going on around the world, and yes, it even affected us here in New Zealand with a lockdown right now, a lot of people are coming to me saying, “Look, I need some form of new income. I’ve heard about trading. I don’t know about it. How do I start? What is it even?” So I wanted to make this video because it’s very, very topical.

Forex is the best market to trade – here’s why

So look, to me, trading the Forex market is like no other market, and it’s been my only and preferred choice of Forex market now for 16 years. I’ll explain to you what it is, and then why I trade it, and then I’ve g