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wed posted: Wed 2018-06-20 04:18:21 tags: money
It's kind of condescending to tell someone "we'll make you an extrovert" as if introversion is some kind of deficiency to be corrected. Introversion is a strength. Introverts are great at working solo, with minimal input or hand-holding. Introverts are great at sensing and breaking away when chatter ceases to be productive.

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For a few days I've been mulling over the prospect of trying my hand at forex trading. "Forex" stands for FOReign EXchange, and could more aptly be called "currency speculation". It consists of trading one type of currency for another - for example, trading American dollars (USD) for Eurodollars (EUR), in hopes of a decline in USD buying-power and/or climb in EUR buying-power.

With, say, 8 "major" currencies to trade in, and perpetual flux in exchange rates, in theory it should be easy to eke out marginal favorable trades. The question is, how much time and effort is worthwhile to spend to reap a marginal profit? And, can your trades buck the drag of broker commissions? You can open a forex trading account for as little as $50 or $100. Think about the stock markets - as one forex commentator put it, hedge fund managers would kill to be able to return 25% per year on investment. Naive people get into forex with visions of flipping consistent daily or hourly profits and quickly building small stakes into big stakes. The reality is, with a small stake like $100 or even $1000, you can grind 1% daily and you'd be better off spending your time flipping burgers at the pancake house for minimum wage. If it was easy or reliable to do better in forex trading than stock-market trading, it would be a bigger thing than stock markets. In a sense, it's much simpler - instead of monitoring thousands of publicly-traded stocks and ETFs to decide when and where to trade, you just have 8