Trading Forex for a Living: Q&A with Trader Joel Kruger | Podcast
Talking points on this podcast:
- Why trade forex instead of stocks?
- How much money do you need to trade forex?
- How do you use leverage when trading currency pairs?
This time on Trading Global Markets Decoded, our host Martin Essex is joined by Joel Kruger, an experienced currency trader, analyst, and private consultant to high net-worth clients. On the agenda this time: the ideal forex account size, the benefits of choosing forex over stocks, and how to use leverage when trading currency pairs. You can listen to this podcast with Joel Kruger by clicking on the link above or one of the alternative platforms listed below.
Why trade forex instead of stocks?
The question of why to choose forex vs stocks is a common one. So why are currencies so appealing to trade? “When I look at a market, the things that are most attractive [are if the] market is scalable, has tremendous volume and is deeply liquid. That gives you many options. Being the largest market in the world [the forex market] is to me a no-brainer.”
How much money do you need to trade forex?
Another common question is how much money do you need to trade forex; is it necessary to have thousands of dollars in your account? “Absolutely not,” says Joel. “[Even if] you’re going to be trading a $100 account, and you’ll be taking positions and trading at 2x or 3x leverage, or unleveraged if you can… the percentages are the equalizer and what you need to be focused on.”
Joel adds that, if at the end of a year you have profitable results with your $100 account, it doesn’t matter if you’re trading with a $10,000 or a $100,000 account. “[To just focus on percentages], you will have the confidence to raise more, or borrow more,” he says.
Follow Joel on Twitter for more insight
If you’re looking for one-on-one help or money management advice from Joel you can send a direct message to him on Twitter @joelkruger.
Click on the channels below to listen to the podcast in full.
- iTunes: https://itunes.apple.com/us/podcast/trading-global-markets-decoded/id1440995971
- Stitcher: https://www.stitcher.com/podcast/trading-global-markets-decoded-with-dailyfx
- Soundcloud: https://soundcloud.com/user-943631370
- Google Play: https://play.google.com/music/listen?u=0#/ps/Iuoq7v7xqjefyqthmypwp3x5aoi
- Spotify: https://open.spotify.com/show/6FtbTf4iGyxS0jrQ5jIWfo
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.