I am very interested in the forex market. I understand that traveling around the world while tracking the market with your phone is not very realistic. However, I dream that one day that I will be able to visit first world countries and be able to support myself, living comfortably while breaking even or saving a little. I don’t expect to be rich.

I work my butt off and I deserve what I earn. In the next 4 years I expect to be a certified welder and motorcycle/small engines mechanic with a full GI BILL for college. I feel that I need to get into the forex market and play around with 500 bucks or a grand to better understand how it works. Where should I look to get into the forex market and learn many things while not getting scammed?

When I attend college, what courses should I look at if I want to increase my forex knowledge and skills? Financial economics, etc.? I don’t want to waste my GI bill since it only lasts so long.

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    I recommend that you play around with 500 bucks, not a grand. That way you will only lose $500, rather than $1000. – Simon B Sep 8 '18 at 22:56
  • You could save time and energy by withdrawing the five hundred, from a bank, and burning it. Same result. You would be far better served to give the money to charity. As a fellow veteran, please understand that FOREX is a sucker's game. – Pete B. Sep 10 '18 at 12:12

Forex is one of the most liquid markets. It is incredibly difficult to outperform the market. When a country has high inflation, it often has high interest rates - making it expensive to bet against the currency. Said in reverse, if you put your money in a currency with a higher interest rate, it is usually compensation for the risk that the currency may have higher inflation (eg Brazil recently).

It is very difficult to beat the market.


as you may know, Forex is the currency exchange, therefore it is very liquid.

To trade smart, notice that I don't mention earn money, I suggest you to learn about derivatives, have a good sense of understanding macroeconomics and keep yourself very informed about world-wide news, everyday. Learn very well some of the following concepts: Hedging, Futures, Mark-to-market and Options.

My suggestion is to don't try to focus on all the world exchanges, focus on a few. Emerging market ones, maybe?

Example: If you read the news very closely, Argentina devaluated the currency 20% in a week (this means, on Monday 1 dollar was equal to 33 pesos, on Friday was, say, 40$). On Friday, the Future on dollars was 50$, but if you were informed, you knew that 40$ could be very well a maximum. So you could go Short on a Future contract, with strike price 50$. Eventually the argentina currencey valuated again, and started decreasing. It's at 36$ now. But you had a Future contract to sell it at 50$, so that would have been a 14$ per dollar profit.

protected by Chris W. Rea Mar 25 at 2:23

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