The Forgotten World of Forex Trading
Just wanted to pen an open letter to remind everyone that Forex trading is still a thing. In case you do not know what Forex actually is (Foreign Currency Exchange), it is the trading in valuations of monetary currencies against one another.
After the incredible hype that we have had with the stock market in the last year, the interest in retail investing has skyrocketed. It's been two months and there is hardly a time I turn on CNBC and the GME/AMC squeeze is not brought up at least once. For anyone that is on the Clubhouse app, I am sure you are aware of the NFT craze going on. Obviously, these are pertinent discussions and I believe there are valuable opportunities in them (even if it's only temporary with NFTs).
THIS IS NOT INVESTING ADVICE*
On the heels of all the market hype around crypto and “stonks” I just wanted to share a post making people aware that Forex exists. I have been very surprised how many people do not know about Forex. I use Thinkorswim from TD Ameritrade to trade. I know there are other platforms out there that can be more user-friendly for Forex, but I am already pretty familiar with Thinkorswim.
Here’s a couple of reasons you might be interested in trading Forex
- Forex trades 24/5, this means that you can actively trade from 5 pm EST Sunday to Friday 5 pm EST
- There are no trading fees with (Thinkorswim at least) and no day-trading restrictions from the SEC.
Please do your due diligence in research, if you have any questions I would be glad to point you in the right direction or maybe have an answer myself. As always all investing is risky and don’t willing to bring to the table what you are not willing to lose.