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During my 22 years of holding the 9 to 5 day job, I was exposed to 3 recessions. I survived the first 2 and was beat by the 3rd, where I lost my job. From my non-economist observation the recession cycle occurs every 10 – 12 years. My first recession being around 1984 when I just started to enter the employment market. I was lucky to get employed at that time, while many of my college mates were not as lucky. It took them a few years after to find a day job.
The second recession was around 1996, I just changed job from manufacturing to construction not knowing that the construction company was going bust after that. I survived for a year there. I was lucky though that at the eleventh hour, I managed to switch to another job.
When times got better, I was doing rather well climbing the corporate ladder and feeling complacent that I would be lucky again even if recession would re-occur. Well, so much for that confidence, 2 years ago, I was one of the many employees of the company to be laid off. It is definitely a paradigm shift for me. I was back to zero.
That's when I started to look into online business. This recession, perhaps as what is said, the worst since the great depression of the 1930's, but it will be over soon. You may have survived this recession but are you confident that you will survive the next one. In order for you to beat the next recession, you need to start preparing yourself to embrace it when it comes. One of the ways is through Forex Trading.
Forex is an acronym for "foreign exchange. This network for international currency exchanges works through banks and corporations trading with each other, setting values on those currencies. The large amounts of contracts are used for commercial and investment purposes, and to hedge values of treaties .
Forex trading, is fast becoming one of the popular online income generating activities. Due to its flexibility in trading time, you can do it your own convenient time. You can be a forex trader while still holding on to your day job.
Like any online business, you can not just become a forex trader without preparation. For you to gain the full benefit and to leverage your losses, you need to equip yourselves with the knowledge on forex. You need the knowledge and the skill to make you a forex trader. Equip yourselves before you take the plunge. Take your time and master the skill so that you can become successful in your trading. You do want to be able to quit your day job, one of these days and concentrate on this new business. Until you can be comfortable with your earning, do it on the part time basis first.
Although there are many software which may be able to help you automate your trading, but to know which one to buy also requires knowledge and skill. Shop around and try to get the best which suit you before you make the decision. Automated system merchant would oversell their products with promises which may not be true after all. So read the product reviews, access the company for warranties and customer support. Most of the automated system which is sold through clickbank is required to have 60 days of money back guarantees, take advantage of that. Once you are satisfied, then only buy.
Forex trading will be one of the recession proof business models. But, like any business, whether it is an online or offline business, a business strategy and planning are essential tools for success.
Source by Normah Hassan