Monday, May 19, 2008

Can Forex Trading Provide a Pension?

I have just read a Wallstreetfighter.com blog posting that has calculated "if you saved 15% of your pre-tax income for 35 years, that would put someone in their late 20s at 80% of their annual income upon retirement". If you can afford to put by that amount it seems like a sensible idea, but how do you save?
Right now that may be very difficult.The stock market is volatile, wage rises are low and basic necessities are rising in cost. You may decide that one idea is to invest on the Forex market. If you do then you should study the market closely, learn the different trading strategies until you find one that suits you, practise for several months on a dummy platform provided by a good Forex broker and then only just dip your toe into the market using a mini Forex account. Never risk more than you can afford to lose, remember over 90% of beginners lose money. Learn about Forex trading.

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