Does forex trading make sense for someone with a computer science background as a way to make money on the side?
I'd like to make some money on the side. I have a computer science background. I read the Wiki, but it mostly contained educational resources, whereas I'm wondering "does it make sense to trade forex in my position". I see three possible benefits of trading forex:
I trade forex and get some money on the side
I trade forex, get good at it, then program a bot that trades forex (not sure how profitable this is)
I trade forex and pick up some skills that are useful if I'm investing later on in my life (in tech companies etc.)
I'm trying to weigh trading forex against doing freelance programming work on the side as a way to earn extra money. Hence I arrive at my question: Does forex trading make sense for someone with a computer science background as a way to make money on the side? Is it worth it, given that I want to invest in companies later on in my life? Or should I stick to programming freelancing?
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99.9% of "online courses" are worthless. If you know how to make money in real estate, or trading forex, you do it, you don't give up your edge by teaching others how to do it
Lots of people think these courses are useful. They aren't. Most of them are hype, just trying to get you to buy more nonsense as opposed to actually teaching you something useful. If I know how to make millions selling real estate, I'm going to sell real estate. Yet I'm not going to teach seminars at $2 thousand per person. Even if I did , that would raise my competition. How come I would do that?
While trading a forex pair for two hours during an active time of day it's usually possible to make about five round turn trades (round turn includes entry and exit) using the above parameters. If there are 20 trading days in a month, the trader is making 100 trades, on average, in a month. To increase the money available to them, traders often use leverage, which is essentially trading with borrowed money. Compared to other securities types, trades made in the forex markets can be made with incredibly large amounts of leverage, with typical trading systems allowing for 100:1 margin requirements.  Apart from trading currency pairs, other methods can earn a profit. Many people think that you can make money trading forex only by buying currency pairs and selling them at a higher price. The truth is that this is just one way you can use forex trading to make money. There are multiple other options and we will talk about them in this article. Forex Trading: How to actually make money as a beginner (Partner content) There are a lot of markets where individuals can trade — crypto, stock, bond, commodities. What is forex trading? How does forex trading work? In the forex market, you buy or sell currencies.. Placing a trade in the foreign exchange market is simple. The mechanics of a trade are very similar to those found in other financial markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.
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