Forex market for personal gain

External question — Personal Finance Stack Exchange Author: William hamilton Original post: https://money.stackexchange.com/questions/99640 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. I am very interested in the forex market. I understand that traveling around the world while tracking the market with your phone is not very realistic. However, I dream that one day that I will be able to visit first world countries and be able to support myself, living comfortably while breaking even or saving a little. I don’t expect to be rich. I work my butt off and I deserve what I earn. In the next 4 years I expect to be a certified welder and motorcycle/small engines mechanic with a full GI BILL for college. I feel that I need to get into the forex market and play around with 500 bucks or a grand to better understand how it works. Where should I look to get into the forex market and learn many things while not getting scammed? When I attend college, what courses should I look at if I want to increase my forex knowledge and skills? Financial economics, etc.? I don’t want to waste my GI bill since it only lasts so long.

External answer — Personal Finance Stack Exchange Author: Charles Fox Original post: https://money.stackexchange.com/a/99641 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. Forex is one of the most liquid markets. It is incredibly difficult to outperform the market. When a country has high inflation, it often has high interest rates - making it expensive to bet against the currency. Said in reverse, if you put your money in a currency with a higher interest rate, it is usually compensation for the risk that the currency may have higher inflation (eg Brazil recently). It is very difficult to beat the market.

External answer — Personal Finance Stack Exchange Author: Patriots299 Original post: https://money.stackexchange.com/a/99642 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. as you may know, Forex is the currency exchange, therefore it is very liquid. To trade smart , notice that I don't mention earn money , I suggest you to learn about derivatives, have a good sense of understanding macroeconomics and keep yourself very informed about world-wide news, everyday. Learn very well some of the following concepts: Hedging, Futures, Mark-to-market and Options. My suggestion is to don't try to focus on all the world exchanges, focus on a few. Emerging market ones, maybe? Example: If you read the news very closely, Argentina devaluated the currency 20% in a week (this means, on Monday 1 dollar was equal to 33 pesos, on Friday was, say, 40$). On Friday, the Future on dollars was 50$, but if you were informed, you knew that 40$ could be very well a maximum. So you could go Short on a Future contract, with strike price 50$. Eventually the argentina currencey valuated again, and started decreasing. It's at 36$ now. But you had a Future contract to sell it at 50$, so that would have been a 14$ per dollar profit.