Ninja Mystic Art: Online Forex Currency Trading

Forex Trading

The world has gone mad, Crypto Currency mad that is. Investors all over the world are gambling in an unprotected decentralized market. A market that is full of hackers, deception, and fraud. A recent study from the Statis Group revealed that more than 80 percent of ICOs, or Initial Coin Offerings, in 2017 were scams.* These scams resulted in investors losing millions of dollars with no chance of recovery. With this level of fraud, it’s amazing anyone would want to risk investing in crypto currencies.

But what if I told you there was a much safer way to profit by trading traditional currencies? What if I told you about an asset class that the wealthy have been trading in for over 500 years? And what if I told you that over 5 Trillion dollars’ worth of this asset class gets traded every day? Are you interested? Then let me welcome you to the world of Forex Trading.

What is Forex Trading?

Forex Trading, also known as the Foreign Exchange Trading, is the act of buying official currency from one nation and selling it once the value rises against another country’s currency. The reason that Forex is such a profitable investment is because currencies tend to fluctuate daily, and in some cases hourly. All it takes is a news story about interest rates in the USA to set the Forex world on fire, with millions of traders around the world profiting from those fluctuations.

Currently some of the most common parings are the Euro vs. the US Dollar, the Japanese Yen vs. the US Dollars, and the British Pound vs. the US Dollar. These currencies represent the most stable currencies in the world, and don’t run the risk of massive devaluations like currencies of other less developed nations. Another positive aspect of these currencies is that these countries all work very closely with each other’s economy and have very predictable patterns of fluctuation as a result.

Why the Ninja is the best suited Warrior for Forex Trading

Forex trader

As a Ninja, you are always aware of the inter workings of society. Your constantly reading the news, paying attention to politics, and learning about new developments in technology. As a result the Ninja finds themselves with a unique perspective that the other warriors simply lack. A Pirate will be too busy trying to run a business to trade Forex and the Knight is to risk averse to attempt something like Forex trading. This means that only the Ninja will have the skills and knowledge necessary to be successful.

This is because Forex trading require ALOT of time to be successful at it. Hours upon hours of research are needed to truly understand the currency market. You will need to become an absolute expert in whatever country’s currency you are trading. Expect to spend hours looking at historical exchange rates, spreadsheets, old news clippings, and watching ALOT of videos on YouTube. That being said, if you find that this type of trading is for you, then get ready for the ride of a lifetime. Forex markets are open virtually 24/7 and if you can identify your own profit patterns, then you can stand to make tons of money.

How to Get started Trading Forex?

The First thing you want to do is to start thinking about what currencies you’re going to trade. It is recommended you stick with mainstream currencies such as USD, Yen, Yuan, and Euro. Highly speculative investors can find great profits in non traditional currencies such as Russian Rubles or South African Rand. However, this is a high risk endeavor as these currencies tend to fluctuate wildly depending on Geo political events.

Once you have selected your currency pairs, you’ll need to open an online brokerage account. To set up an account you will need an email address, your banking information, and your contact information including address and telephone number. Often times a text message will need to be sent to a cell phone in order to prove your identity. Once your account is live simply access their Forex system and begin investing. Simply purchase the currency pair you want and wait for the fluctuation in price you’re looking for and then sell at your desired price. You can either withdraw your profit or pump it into your next trade. The decision is up to you.

 

Forex chart

Pros vs. Cons of Forex

Pros

5 Trillion Dollars per day is traded on Forex. That is a lot of opportunity daily opportunity that you can profit off of. *

The Market is open 24/7, so you can trade at any time and from any location on earth.

Forex is one of the world’s most popular asset classes, which means you will be able to find virtually unlimited support, webinars, and free classes on the topic.

Cons

Brokerage accounts often require a minimum investment of $2,000-$5,000 dollars.

Currency prices can be affected by political issues such as elections, protests, wars, etc.

Capital Gains taxes are higher for Forex trades then traditional stock and bond trades.

Conclusion

To a Ninja, Forex can be an exciting new asset class to explore. It is far more established and stable then risky crypto currency trades. So if you are interested in currency trading I’d recommend visiting Investopdia’s Introduction to Forex. There you can learn how to set up a brokerage account, how to select what pairs you’d like to invest in, and get expert advice on any questions you might have.

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14 thoughts on “Ninja Mystic Art: Online Forex Currency Trading

  1. I have always wanted to give forex a try but it’s been price prohibited for to get started. The other thing is the risk involved is way too high for my blood. But if I had an extra few thousand laying around I would probably give it a try but until then I will have to keep dreaming.

    1. Thank you for your comment.  At Invest Like a Warrior, our goal is to help users find what types of investment styles work best for them.  It sounds like you might be more interested in the Knight’s Path.  That is the path of low risk and financial stability.  I would encourage you to also read our Knights section.

  2. Well said, cryptocurrency is such a big risk business, A lot if investors do lose their funds on a daily basis with no slight hope of recovery, i believe forex trading is risky too but if one is well informed about the market one is likely to make profit and that is one of the advantages ninja has over others like you said, they are never ignorant of informations.

    1. The Ninja is definitely the path wrought with risk and tribulation that’s for sure.  Myself, I am very passionate about the future possibilities of Cryptocurrency, but don’t have the time to be constantly “in the market.”  I’d encourage you to check out some of the other warrior paths on the site, and let me know your favorite.  

  3. I’ve never really studied forex trading much but after reading your article I can defintly see that there is good money involved within it.

    However due to investing lots of money, spending days and week researching, and basically gambling money — I don’t think I’ll be doing it anytime soon.

    But if I have lots of extra money and time, I’ll definitely consider doing it.

    Have you done this before, and if so did you make a lot of money?

    1. Forex trading was on of the many ways I tried to climb out of Financial Serfdom.  While I had a few small wins, it wasn’t really for me. 

       Failures like that are what drove me to create Invest Like a Warrior.  A resource where people could learn the basics of different financial strategies.  My goal is to empower people and help them wage their own Financial Warfare against student loans, debt collectors, and anything else that might stand in their way.  

      Be sure to check out our What is Invest Like a Warrior? section to learn more about the various Warrior investment styles we teach.  

  4. At first, I was really confused because I was not sure what ninja mystic art had to do with forex trading.    Yet, I am glad that I took the time to read this article.   I’ve heard a lot about crypto currency.   I have not looked too much into it because it is too new.   Yet, I too am surprised that people are investing in it with such high rates of fraudulent activity going on.    

    It sounds like FOREX trading would be ideal for a person that loves to research and keep up with current events plus learn about historical events.  The ninja personality type would be a good trader.    I will be looking more into FOREX trading.  

    1. Thank you for your feedback Sondra.  

      Invest Like a Warrior is designed around the idea that each one of us are engaged in Financial Warfare.  This warfare is a compilation of the debts we have, buying our first houses, retirement, and every other financial concern.

      The goal of this site is to teach my readers how to use investing to get ahead.  Investing in a way that mirrors different warrior personalities. 

  5. Last year, my sons and I took some money and invested in bitcoin.  It appeared it was going up, then it went down, and now we’re pretty much where we started.  We thought it was going to bring us a killing, but not the case.  I am always skeptical, more than my sons, of trying new things, but this article definitely peaked my interest.  This sounds relatively safe if you know what you’re doing, and while I’m not one to dive into it, my sons definitely are.  I’m going to direct them to your article to see what they think.  Thanks for sharing this!  Great info!

    1. Every cryptocurrency has it’s own unique case.  For example, Dan Gilbert, Founder and CEO of Quicken Loans is actively trying to create a cryptocurrency backed mortgage system.  This would allow for the digitalization of mortgage pre-approvals, home deeds, tax records, etc. 

      This is an example of a real world use case for cryptocurrencies.  Often  times currencies  like bitcoin struggle to find an actual use.  That being said, a bitcoin is STILL worth more than a US Dollar, even when the crypto market has crashed.  

      I would recommend looking into Ethereum  That is the one Quicken Loans is discussing using with Mortgages.  It’s a very exciting time to get involved while the market is still young.  I have no doubt that Dan Gilbert will succeed in transforming the mortgage industry to a more streamlined digital one.

  6. A highly original point of view of Forex trading. As with all potential high return industries this one also seems to be riddled with sharks, all too willing to strip you of your last dime.

    You would think that the relatively high entrance value would make people more diligent and less liable to getting stung. Unfortunately the opposite is true and it always stands one in good stead to stick to the old gambler’s mantra, ‘only bet an amount that won’t hurt to lose.’

    1. A lot of “experts” out there try to sell Forex as a really easy system. That prices are predictable and the patterns are easy to follow.  But I can’t believe that to be the case.

      Brexit, Bitcoin, Pension Bombs, all of these things are going to affect the price of a given currency.  And I can’t imagine that “patterns” are going to be that easy to find.  Not without hours upon research and a real understanding of how currency exchange rates work.

      Glad you enjoyed the article.

  7. I had no idea that this kind of investing was even a thing! I’m very interested in trying this out and learning more about it and its logistics. Do you have any other resources that would be good to continue my learning regarding this subject?

    1. Kelly,

      I would recommend subscribing to our weekly newsletter. Each week we highlight a different warrior class and a different strategy to learn.
      That way you’re not just focusing on one area of investing. Personal Branding is great, but you’ll need some knowledge of other warrior classes too to use the knowledge effectively.

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