Ronel Talks Money: Forex Trading with Stock Market College
In this Ronel Talks Money interview we demystify forex trading. I talk to Ruan Mc Donald from the Stock Market College, a leading provider of forex trading education. Stock Market College renders a service to clients, providing knowledge of the national and international economies, combined with knowledge on how to trade in financial markets. They educate, not only to uplift communities, but also to increase the participation and understanding of a growing economy.
A few of the questions we answer in this interview:
- Explain the concept of forex trading in layman’s terms?
- The general perception is that terms like trading and forex are complicated. Can anybody do it and how do you start?
- How long does it typically take before somebody can start trading?
- Do you need a lot of money to start trading?
- How much time is required for trading and can trading provide passive income?
- How is trading different from investing and from buying stocks / shares on the JSE?
- What are the benefits of forex trading for a South African?
- Trading forex is considered to be high risk and people should be aware that they can make a lot of money but also lose a lot of money (returns are not guaranteed). How can you minimise your risk when trading? (liquidity)
- What has an impact on the forex markets i.e. economy, interest rates, politics etc.?
- What will make you successful as a trader?
- What are the different trading strategies?
- What about fees and tax?
- If you want to get involved in trading but don’t want to do it yourself, what are the options available?