This Trader Reveals Why Forex Benefits My Money – 7 minutes ago

Jakarta, CNBC Indonesia – Professional Trader, Andy Senjaya revealed that trading Foreign exchange (forex) is very profitable, as long as the trader is really observant in reading market direction. So there is a process and understanding that must be carried out before starting forex trading.

“As traders, we have to know which market has higher potential,” said Andy in the Cuan Class which carried the theme“Turbocharge Your Wealth Through Forex & Commodity Trading”,Saturday (25/11/2023).

Andy himself admitted that before trading in stocks and crypto, he started in forex. Because he saw that the potential for profit was very large. For this reason, he joined forums and communities to understand this instrument.

Moreover, he saw that forex could gain profits from two directions. This means that traders can make profits in two directions (long and short).

So traders don’t need to worry too much if there is negative sentiment towards the currency being traded, right? The reason is, investors can sell their forex contracts when they don’t yet have the contract.

“If our economic conditions get stronger, look for something that can be used to go long, but if it weakens we can sell short, so there are options. This is different from stocks which profit when prices rise. This is an opportunity if you want to see how to harvest profits,” he said.

However, Andy admitted that he was not always profitable, especially when he first started trading. This is because when you first start trading you have a mindset or mindset of wanting to make quick profits and get rich quickly.

“In my previous experience, I was able to make a profit for 5 years, after finding money management with more discipline and looking for a method. No margin calls. It was already good,” he explained.

[Gambas:Video CNBC]

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