Kurb Forex Intro Video

– Hi this is Matt from Kurb and I’ve been trading currency for almost 18 months now and what I wanted to do was to post a video taking a perspective from the beginning of my personal journey into forex, foreign exchange trading, currency trading – because it’s where I hope to make significant investment returns for a long time to come, but I also want to be involved in the culture, mix with other traders, share analysis, pass on my insights and begin to explore where I could fit into the space providing media and education around currency trading.

– I got my start the day of the scottish independence vote. I saw a tip that as Scotland would stay within the United Kingdom buying pounds was the hot trade, and as another friend who also was in small business had encouraged me to set up my first trading account with CMC and I had put $20 in it, I thought I may as well buy some pounds and see what happens. Within a few hours I had turned my $20 into $100! An hour later it was gone. But I had seen what was possible and I was hooked!

– I had to learn a few things – currency is traded in “pairs” – I wanted to buy pounds to go up, but they had to be traded against another currency to go down, such as the US dollar, Euro, Yen, Canadian, New Zealand, or Australian Dollar – these are all major currencies which mean they are actively traded each day. you’ll pay two costs based on which currencies you choose to trade, the brokers cost, which can vary depending on the time of day and the availability of a certain currency. But you also pay a carry cost, and that’s the interest you pay on the money you’ve borrowed for each day you hold the trade if you are choosing to hold trades overnight.

– This is where I got intro to the basics of how retail currency trading – that is small guys like me and probably you – works, that is firstly leverage. For every $1 in my account I can borrow $500 to put down on a trade. That means with $200 in my trading account I can leverage $100k to put down on a trade, so if the currency goes up 1% In a significant move following some major news, I take a 1% profit on $100k that’s $1000! But if I’m wrong about how the currency takes a piece of news, I can just as easily lose money and if that money isn’t in my account, the broker will make a margin call on my trade and sell my position leaving me with my money gone.

– That’s why most traders work with stops. They set their positions to sell automatically as soon as it reaches a certain loss because there are so many different strategies based on complex mathematical formulas as to what might be expected in currency moves and there is a wealth of sources on that, but the fact remain that most strategies work on the idea that you never win every trade, it’s that you profit mre from the trades you win than you lose on the trades you lose money on. Once a trade loses a certain amount of money, you know it’s a loser. Better to cut your losses.

– What attracted me to currency trading over other forms of investment such as stocks, is that stocks crash in nightmare panic scearios and lose hue amounts of value. Currencies merely rise and fall in relation to one another, often swinging in value as it forms larger swinging trends and these patterns become predictable enough to not only make trades on, but have nowhere near the potential of stocks to completely lose their value – even in extreme events currencies usually only lose 1-2% of their value day on day. Although this can be dangerous if you’re highly leveraged, this makes it so much easier to commit to a long term strategy following relatively predictable ups and downs in the market.

– This is where we get to the nitty gritty of trading, there are hundreds of sources that will take you through the strategies involving complex maths or speculating over analsis of financial news – you can follow the news of financial announcements that often move the market such as monthly inflation or unmployment figures or regular announcements where reserve bankers announce changes to interest rates which also are felt keenly on the market. But the most important thing about trading and to the success of a trader is your psychology.

– Trading is not gambling, if you have a system and you follow it. The moment you stop following your system and begin to take hopeful chances ou have become a gambler and you are no longer assured success because you have abandoned the fundamentals of your system. I have a system and let me tell you what is clearly obviou to me now – if you knew the secret of making money in trading you would not give it away so do not be tempted by silly ads and schemes that promise you profits. My system works because its based on decisions I make that cannot be replicated by a formula.

– so this was just first video on forex for kurb, sharing a little of the knowledge I’ve built up, no one can know what the future could be for kurb forex, but I have a system. I am confident in it, I have tested it I have made money, lost money and made it back again. What I am doing takes months to work – in my case it will have taken years but I am well advanced in my journey and I am looking forward to providing more content for you helping you to understand currency trading, how it works, and how people like me and you can make our money.

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