What is Forex?
Forex is short for Foreign Exchange.
The Forex market is the most liquid market in the world.
It exchanges approximately $5,6 Trillion per day opposed to less liquid markets such as the New York Stock Exchange that exchanges approximately $20 Billion per day.
People turn to trade the Forex markets for a variety of reasons:
You can trade from anywhere in the world, all you need is wifi, laptop and cellphone.
Most liquid market in the world.
You can profit whether a specific currency is increasing or decreasing in value.
Forex does not require a high initial investment.
Traders can begin with as little as $100 which makes Forex all the more popular.
High liquidity allows large amounts of leverage.
Some brokers allow leverage up to 1:1000.
“The goal of Forex is to buy a currency that is anticipated to gain value or sell a currency that is anticipated to lose value against another currency”
Meet the Man behind it All…
Hi, my name is Clint Fester (Instagram: @mr_festx). I was born and raised in Cape Town, South Africa. I’m 33 years young, Full time FX trader and Entrepreneur. I’m a Husband to Simone Fester and a father to my 2 beautiful kids Kyro and Kourtney. I have been an Entrepreneur since March 2015, after resigning from my 9-5 job after being there for almost 5 years. I started to see my future clearly and I knew I was not going to own a Ferrari or live in a Mansion and travel the world with my family working a day job and to be honest as a young kid we all had the poster in our rooms on our walls of an exotic car and for some reason along the way while growing up we forgot to dream big…
I encountered the Forex market one night while having supper with a friend and noticed these funny looking graphs he was staring at on his cellphone and asked him what it was that he was looking at and his reply was “I am trading Forex”; the blank stare I gave him I can’t even explain because up until that night the word “Forex” was Foreign to my ears, never the less I was fascinated by what he was showing and explaining to me and nearly choked on my sushi when he mentioned the profits he was making. It was unreal to me as my mind could not calculate how that could be possible from a CELLPHONE! I left there that night and spent hours on youtube watching forex videos, the next day I never left my bed! I was watching video upon video of “what is forex” “how to trade” “broker recommendations” etc, plucked the courage to load my first account back In May 2016 I loaded my first forex account with some of my hard earned cash knowing nothing about the forex markets besides a few Youtube tutorials! Big mistake, I thought I was ready… I blew that $500 account in the first week! Loaded another $500 account blew that in 2 weeks, and so I decided I need to look for a mentor. After a month I did a 3 day course with an institute in Cape Town and I still didn’t know when to enter a trade or when to take profit. My losing streak continued…