Greg Secker is a British businessman and philanthropist who staunchly defends forces trading as everyman’s niche. He says that the stock market is too volatile for most people to realistically handle simply because it is only open for a short period and trades in huge blocks.
On the other hand Forex is open 24 hours a day, seven days a week and has millions of traders constantly trading. This makes for a more open market and a trader can trade in smaller blocks lessening the risk.
Secker was instrumental in the development of the Virtual Trading Desk while working at Thomas Cook Financial Services. He learned all about trading Forex while working at Mellon Financial Corporation when he rubbed elbows with some world-class Forex traders there. Secker states that a good strategy is necessary to trade Forex and you have to know when to get out of a trade. A good rule of thumb is to never invest more than 1 percent of the cash you have on hand in order to minimize losses.
He relates that sometimes women are better traders than men because they have no problem dumping a trade that is going bad. Men seem to think that it is a sign of their masculinity to hold on and “win” but that kind often loses.
Secker did very well on his own trading Forex, enough so that he retired from Mellon Financial where he was a Vice President to set up his own forex desk at his house. He did even better and formed Knowledge to Action, a marketing company to sell “how to” programs to would be forex traders. With that company he won many awards and made a lot of money.
Greg Secker says that anyone with a little money and some discipline can learn to trade in the foreign exchange markets. They are always open and you can be in business from anywhere in the world. While the material is a learning curve for most people, so is any career where you have a job to do. You have to be knowledgeable in order to do anything, so most people can pick up enough knowledge to do well in forex.