Question by William M: What is better out of trading ordinary spot forex or currency options?
I am 18 years old and I am considering trading currencies as a home based business. I’ve had practice with ordinary spot forex and find it okay. I want to know what is better if I was to trade ordinary spot forex or currency options? Which is better, and which has the best chance of you becoming successful and becoming a millionaire out of?
Best answer:
Answer by Yorky
Unless you are a professional you are going to lose your money quick. This is no place for amateur.
Know better? Leave your own answer in the comments!
{ 4 comments }
hi,
forex is 100 times bigger then regular stocks.it produced lot of millionaires in the world.i lost job and strated fx trading as part time and now it became full time work to me.my advise is practice as much as u can before u enter real trading.i think u have done nice practice.currency options is good but use good trading platform.i use etr and they have nice visual system with 24 hour support team.here u can find best trading platforms that most traders use
——————————–
forexplatformslist.com
——————————–
good luck
Use currency options as a hedge for your spot trades. Don’t use it for pure speculation. Understand more about options before you try.
It really depends if you are dealing with long term or short term trades. IF your dealing with the 10min charts or 1 hour charts there is no point in buying forex options. If you want to learn more about options I would go to http://www.allmarketpicks.webs.com . It helped a lot.
Options are good for hedging and for longer term.
Comments on this entry are closed.