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The Forex currency market is a $4T market and the largest market on the planet. Due to the liquidity of the Forex market and the fact that this market is open 24 hours a day, the currency market should be considered by anyone pursuing alternative wealth creating strategies. Also, the Forex currency market can offer a hedge as you can trade in currency pairs, such as the EUR USD (which is the value of the Euro currency compared to the value of the US Dollar currency) where as the USD weakens, the Euro currency strengthens. There are also currency pairs, such as the GBP JPY (which is the value of the Great British Pound currency compared to the value of the Japanese Yen currency) providing investment alternatives in totally non dollar-denominated assets … a great way to hedge against the potential demise of the USD. If you like this alternative but not sure where to begin … let me provide in this article a few pointers for consideration. Be aware that there is a lot of “junk” and misleading information on the web related to training and trading the Forex market. Be sure to do your homework before you go too far with any one training provider, trading platform, or broker. A company that I found and use provides 35 free training lessons on their website and the lessons are of the highest quality. They also discourage you from signing up for their trading service until after you have reviewed the 35 lessons and paper traded their big lights and trend trading approach. This way you get a lot of free material and a low cost way to learn about the Forex market to determine if their approach will work for you. Also, consider attending a training session. I recently attended a very inexpensive seminar where the material was in an instructor lead format (which is rare these days) with significant face-to-face interaction however all of the materials were delivered during the seminar online from their website and associated blog. There was a significant amount of supporting materials such as detailed lessons and trading tips to read and study, pictures of trading screen setups highlighted on Flickr, and Youtube videos of previous training sessions that can be accessed in the future, as a refresher. As a student, I was able to bookmark the material for access and review a future time. The seminar was organized around 5 key topics: - chart reading; - support and resistance; - parallel and inverse pair analysis; - writing trading plans; and - entry management and verification. In addition, there were several topics on mindset, building confidence, and determining when there are good times to trade … and, when are times to avoid trading. I trust this material has provided you insight and an overview … as you consider the Forex currency market as a hedge to the potential demise of the US Dollar. One more suggestion would be to read an excellent “state-of-the union” message on the hubpage of the instructor that taught the seminar I recently attended. It can be found at http://hubpages.com/hub/Spot-Forex-Trading-The-State-of-The-Union. You can find out more about the Forex marketplace and this Forex Early Warning seminar by reading updates that will be posted at Farrell’s blog over the next few weeks which is at http://aspenIbiz.blogspot.com. Farrell, a former engineer with General Dynamics and management consultant at Deloitte … is on a mission to empower individuals by increasing their financial literacy, improve their ability for personal sustainability, and contribute to the program that has a goal of creating 100 Millionaires by 2012. He favors a recent quote from Steve Forbes. Forbes says “financial education and empowerment is the key to recovery from this ongoing financial crisis. Until next time, Farrell invites you to: Meet him at: www.facebook.com/mifarrell Follow him at: http://aspenIbiz.blogspot.com Watch him at: www.YouTube.com/user/MikeAIB Join him at: www.aspenIbiz.com When not traveling for business or pleasure, Farrell operates his own internet marketing company and consulting firm from his home in the mountains of Colorado. In closing, if you are an entrepreneur, a business owner, employed in an 8-5 job, or recently retired, yet still wanting to be plugged-in to the next wave of economic prosperity, you can join him in pursuing the lifestyle you want to live by following the aspenIbiz link provided above.
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Financial Education, Alternative wealth creating strategies, Internet Marketing Opportunities, Forex, Trading tools, US Dollar policy, Hedge,
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