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Trading is regarded as a high barrier-to-entry profession, but this is just not the case in today’s economy. Now, as long as you have both drive and patience, you can trade for a living, even with little to no cash.

Forex trading is a global market that runs on a 24/7 basis, offering enormous opportunities for the traders to take the plunge. Changes in technology and increasing sizes on the exchanges, have brought about several very little barriers-to-entry trading professions.

In some cases, no private capital is required.  In other cases, only a trivial amount of capital will be needed to get you started. For more information on the same, download mt4 application here.

This is why there are several advantages that a career as a forex trader, also known as a foreign exchange trader, affords. This review will look at both these advantages and disadvantages as well.

Advantages of A Forex Trading Career

High Liquidity

Compared with any other monetary markets, the forex market has the highest number of market contributors. This provides an uppermost level of liquidity, which means even large orders of currency trades are filled efficiently without any large price deviations.  It eliminates the possibility of price manipulation and price irregularities, thereby permitting tighter spreads that lead to more competitive pricing.

One need not worry about the high instability during the opening and closing times, or motionless price ranges during the afternoons, which are characteristics of equity markets. Unless major events are anticipated, one can observe similar price patterns (of high, mid, or low volatility) during the non-stop trading.

Low Costs

Forex trading can have minimal costs (brokerage and commissions). There are no cuts in an actual sense; most forex brokers make returns from the spreads between forex cash.

You don’t have to worry about including isolated brokerage charges, eliminating an overhead. Liken that to equity or other securities trading where the brokerage structure differs widely, and a trader must take such payments into account.

Low Capital Investments

Due to constricted spreads in terms of pips, one can easily begin forex trading with a small amount of preliminary capital. Without more capital, it may not be imaginable to trade in other markets (like futures, options, or equities). While exchange on such high margins comes with its dangers, it also makes it calmer to get better profit potential with restricted capital.

Variety of Pairs of Trade

There are 28 major currency pairs concerning eight key currencies. Criteria for choosing a couple can be opportune timing, volatility outlines, or economic developments. A forex trader who loves unpredictability can easily switch from one currency pair to another.

Disadvantages of A Forex Trading Career

Complex Price Determination

Forex rates are inclined by multiple factors, primarily international politics or economics, that can be difficult to analyse and draw reliable deductions to trade on. Most forex trading occurs on methodical indicators, which is the primary cause of the high volatility in forex markets. Getting the technicals wrong will affect in a loss.

High Volatility

With no control over macroeconomic and geopolitical progresses, one can easily suffer huge losses in the extremely volatile forex exchange. If things go wrong with a specific stock, shareholders can put pressure on the administration to initiate essential changes, and they can otherwise approach regulators.

Lack of Transparency

Due to the liberalized nature of the forex market conquered by brokers, one trades against experts. Being broker-driven means that the exchange market may not be transparent. A trader may not have any governance on how his/her trade order gets fulfilled, may not get the most acceptable price, or get restricted views on trading estimates as provided only by his selected broker.

Conclusion

To sum it all up, having a career a forex trader is very rewarding, as we have seen above. However, it also comes with drawbacks. You need to weigh both and see if its worth in the long run.

 

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Most people will have heard about Bitcoin increasing in value over recent years; you may have been interested in what all the fuss is about and thought about getting involved in bitcoin investments. You are certainly not the only one who has no idea where to start getting into trading. Here are a few tips to help you dip a toe into cryptocurrency investing.

What is Bitcoin?

Bitcoin, created in 2009, is a new currency and was created by an unknown person. It revolves around the idea that transactions can be made without the use of a bank. Many online outlets will allow you to spend bitcoin with them; if you were planning a holiday, you can book a hotel on some sites and pay with bitcoin.

Why Bitcoin?

Many things in this world have been given value. In ancient times, cocoa beans were used as currency; even today, diamonds and gold hold a lot of value. The current mood for bitcoin is that people are willing to exchange it for actual goods and services, and as long as that is still the case, you can definitely believe in bitcoin. With bitcoin being uncontrolled by the government, this can contribute to its appeal, alongside the fact that it is almost anonymous when used.

Start With an Exchange

You will need to find a bitcoin exchange, and these days, you can even make a Western Union to bitcoin transaction; it is very straightforward. For example, Paxful makes it really easy to buy bitcoin and pay vendors using Western Union. 

There are many other ways to buy or invest bitcoin; you will need to make sure you set yourself up an account so you can have your ID verified. Bear in mind that credit cards are not advisable for any cryptocurrency transactions, as credit cards are often very high interest. It has never been a good idea to make investments by way of a credit transaction.

Do Your Research

Bitcoin is relatively new to most people, so make sure you really do your research, keep up to date with the improving technologies and the newly created cryptocurrencies. Keep track of bitcoin’s price; bitcoin is only one of many cryptocurrencies out there, so you need to be sure you know what you are getting yourself into. If you are tech-savvy, you may be more knowledgeable about how to spend your new cryptocurrency earnings. You will need to take care when dealing with companies to minimize the risks involved with your cryptocurrency

Start Small

While it is possible to make a lot of money, it is definitely best to start small, especially if you are new to bitcoin. The thought of earning lots and lots of money from this beautiful new trading commodity and investing your life savings may seem like the best practice, but caution is always the best practice as a new trader. 

Bitcoin is undoubtedly in its infancy compared to the traditional fiat currencies of the world. Still, it is becoming more and more recognized; it is definitely worth looking into it and seeing it for you.

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This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be investment, financial or other advice.

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Maybe you and your spouse are talking about getting a new appliance. It’s a big decision as an appliance is an investment that should last around 5-10 years or so.

Most people wonder which is more financially sound when an appliance breaks before 10 years: is it better to get a new appliance or have it fixed? 

Well, there are several ways to figure out the answer. Here are the things to keep in mind so you can make a good decision:

• Take Repair Costs Into Consideration

Think of repair costs. If your fridge or washing machine costs more for a repair than a new appliance, then it’s a good sign to just buy a brand-new product.

Research the prices for the typical repair costs of each appliance to figure this out. For example, Washing Machine Repair Singapore reports that most washing machine repairs cost around $104 – $238.

If they’re only minor fixes and the item hasn’t reached the end of its life yet, then you can have it repaired. However, if it bites the dust and it entails large expenditures for parts replacement, then it’s a  good sign to have it replaced.

Parts replacement is also a massive factor when it comes to appliances. Some of them are salvageable, but if they have multiple parts fixed and/or replaced, it’s usually a clear sign to just buy one.

 

• Has It Reached Its Warranty?

 

If its insides and features are failing simply because of its age, then replacing it is a go. Consider the lifespan of a typical appliance (not regarding brand). 

Has your fridge been around for 10-13 years, for example? If so, then Fridge Repair Singapore advises to have it replaced instead of having it fixed. 

They do caution, however, that the lifespan of an appliance depends on its usage and maintenance. In fact, here’s a list of the typical lifespans for appliances.

 

• Follow The 50% Rule

 

Always follow the 50% rule: if an appliance is more than 50% through its lifespan, and if the cost of one repair is more than 50% of the cost of buying new, then replacing it is definitely advisable.

Don’t just calculate the repair costs, but also the possible hidden fees that may surprise you while repair is ongoing. This rule is advised by plenty of repairmen as well as veterans in handling different types of appliances.

 

• Energy Efficiency

 

There’s a valid concern for energy efficiency and cost-effectiveness. If your half-life, current appliance doesn’t save you cash or eats too much energy, opting for a better one isn’t so bad.

Switching an older model for an energy-efficient one saves you money in the long run. Try looking for NEA-approved products with an Energy Label to see if you can swap out a new but cost-effective model.

 

• Could Maintaining this Extend Its Life?

 

If giving an appliance just a little bit of extra maintenance and care will extend its life, then it’s best to have it fixed. If all it needs is a quick clean-up to get it working perfectly again, for instance, it’s a good idea to keep it. 

However, you should exclude those that are nearing the end of their warranty periods… for obvious reasons.

Anyway, buying a new appliance is a tough decision and a big investment. Since you’ll need a good talk with your spouse for buying or replacement, we hope these tips can help ease your decisions for a bit.

 

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