Christmas has passed us by, New Year’s resolutions are being broken left, right and centre, and we have, statistically speaking, one of the worst days of the year coming our way – Blue Monday!
The Christmas decorations will have been taken down, we hope. You have taken them down, haven’t you? All of the Christmas food will have been eaten, and all you are left with is guilt and a spare tyre around the waist.
January can feel like one of the dreariest and longest months of the year – and it all peaks on Blue Monday. Thankfully, Forex trading might have something to turn that smile upside down.
What is Forex Trading?
In simple terms, Forex trading, also known as FX trading, currency trading or foreign exchange trading, involves the buying and selling of foreign currencies. The Forex market is the World’s largest and most liquid, with an average daily turnover of over £3.5 Trillion and operates 24 hours a day.
So why should this interest you? Well, it’s simple, as you should know that all the currencies need to be exchanged according to every country and it’s important to do that in a safe place.
To successfully trade forex, it is necessary to be smart and to have intuition. For example, if you think that the Euro will increase in value against the US Dollar you already know what to do, you will buy EUR/USD. However, if you believe that the euro will drop its value, you will sell EUR/USD.
One of the most significant benefits of Forex is that there’s no central marketplace to the foreign exchange. Another key advantage is that once you learn to trade you can trade your currencies for what you think is the right value. If you want to trade forex up or down, you can do it, if you wish to purchase currencies, you can do it, and if you want to sell them, you can do that too.
Trade Forex to Beat the Monday Blues
The third Monday of every January has been called “Blue Monday”, often referred to as the most depressing day of the year. With this said, some may say that trading on Blue Monday it is not a good idea, but when you learn to trade from experienced, trusted traders, you can avoid the Monday blues.
There is proof that trading on Blue Monday can be, in fact, a good idea. Last year, one of our clients from Liverpool bought EURO/USD at 1.0561, and through the guidance of his coach and mentor, he was advised to hold and let the trade run. It is now at 1.2134 in case you wanted to know. (This proves that Blue Monday can be very profitable if you know what you are doing).
So, if you are a confident trader, and know how to buy and sell at the right price, don’t be afraid of Blue Monday and use it to your advantage to trade forex. If you are not so confident in your trading skills, we suggest you learn to trade. It is simple, and you can do it at any time of the year. Why not book one of our free 2-hour workshops today and learn the fundamentals of Forex trading from experienced traders in person?
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