You’re probably thinking this title is some clickbait nonsense, especially right now when the market is in a tailspin. Whether you’re looking to diversify your portfolio, interested in an alternative income stream, or want to build up your retirement quickly, now is the perfect time to test the waters of Forex Trading, especially if you haven’t done so before.
Stock trading has more visibility, and it is what the average person thinks of when they hear the phrase, “the market”. Although the stock market currently is under siege by bears, market conditions right now are ideal for Forex trading. Trading in Forex is different. Every movement carries the opportunity for a win, because when one currency falls another rises, and you can buy or sell from either side. With SmartTrader, you can start making Forex trades all from our platform.
Unlike Wall Street, the Forex market runs on the normal banking hours of four different parts of the world and their respective time zones. This means trading lasts all day and night and individuals can make trades 24 hours a day, 5.5 days a week. It is also the biggest market in the world in terms of activity. Roughly $6.6 trillion is traded each day. While many believe Forex trading to be a better bet during times of market volatility, there are still risks involved. With Forex, traders need to be well-versed in both technical and fundamental analysis.
With technical, you are tracking the historical information on how the market has moved in the past to predict the future. With fundamental analysis, you are paying close attention to the political and economic events of the countries where the currency is being traded.
SmartTrader makes it easy to monitor the market without having to stay glued to your computer screen through its hundreds of smart tools, like the Smart Fibonacci. With the Smart Fibonacci tool, you have insight into the way the market is currently performing and how it can fluctuate. It can show if the market is trending towards an up or downswing, and track if the market is finalizing a swing so that you don’t have to keep chasing the market to find a perfect window of opportunity.
With SmartTrader, you can view several charts at the same time in your workspace and improve your advantage by using multiple, shorter time frames to better refine entries to longer-term positions. Depending on your timeframe, these changes in direction happen more or less frequently. Many traders use shorter timeframe charts (1-minute up to 1-hour charts) and so they face these changes many times a day.