Guide to Successful Forex Trading
Forex trading is nothing more than direct access trading of different
types of foreign currencies. In the past, foreign exchange trading was mostly limited to large banks and
institutional traders however; recent technological advancements have made it so that small traders can also take
advantage of the many benefits of forex trading just by using the various online trading platforms to trade.
The currencies of the world are on a floating exchange rate, and they are always traded in pairs Euro/Dollar,
Dollar/Yen, etc. About 85 percent of all daily transactions involve trading of the major currencies.
Four major currency pairs are usually used for investment purposes. They are: Euro against US dollar, US dollar
against Japanese yen, British pound against US dollar, and US dollar against Swiss franc. Right now I will show you
how they look in the trading market: EUR/USD, USD/JPY, GBP/USD, and USD/CHF. As a note you should know that no
dividends are paid on currencies.
Transactions on the FOREX market are performed by dealers at major banks or FOREX brokerage companies. FOREX is
a necessary part of the world wide market, so when you are sleeping in the comfort of your bed, the dealers in
Europe are trading currencies with their Japanese counterparts.
Therefore, it is reasonable for you to believe that the FOREX market is active 24 hours a day
and dealers at major institutions are working 24/7 in three different shifts. Clients may place take-profit and
stop-loss orders with brokers for overnight execution.
Price movements on the FOREX market are very smooth and without the gaps that you face almost every morning on
the stock market. The daily turnover on the FOREX market is somewhere around $1.2 trillion, so a
new investor can enter and exit positions without any problems.
The fact is that the FOREX market never stops, even on September 11, 2001 you could still get your hands on
two-side quotes on currencies. The currency market is the largest and oldest financial market in the world. It is
also called the foreign exchange market, FX market for short. It is the biggest and most liquid market in the
world, and it is traded mostly through the 24 hour-a-day inter-bank currency market.
When you compare them, you will see that the currency futures market is only one per cent as big. Unlike the
futures and stock markets, trading currencies is not centered on an exchange. Trading moves from major banking
centers of the U.S. to Australia and New Zealand, to the Far East, to Europe and finally back to the U.S. it is
truly a full circle trading game.
In the past, the forex inter-bank market was not available to small speculators because of the large minimum
transaction sizes and strict financial requirements.
Banks, major currency dealers and sometimes even very large speculator were the principal dealers. Only they
were able to take advantage of the currency market's fantastic liquidity and strong trending nature of many of the
world's primary currency exchange rates.
Today, foreign exchange market brokers are able to break down the larger sized inter-bank units, and offer small
traders like you and me the opportunity to buy or sell any number of these smaller units. These brokers give any
size trader, including individual speculators or smaller companies, the option to trade at the same rates and price
movements as the big players who once dominated the market.
As you can see, the foreign exchange market has come a long way. Being successful at it can be intimidating and
difficult when you are new to the game.
Quality Forex Resources - Let's Play, Work and Live Freely!
Selecting the quality resources can be a daunting task. But now you can relax because this website holds a
wealth of information. Doing thorough research, we have select few of the top rated Forex
trading courses and systems for you.
Recommended Forex Trading Course |
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Forex Nitty Gritty
Developed by Bill Poulos, a 30 years trading veteran and dozens of trading systems designer. His
previous trading courses have always been designed to take advantage of high probability moves,
reinforced with a strong money management formula.
Bill will teach you how to totally eliminate all the stress and strain typically
associated with day trading Forex by spending only 20 minutes a night placing your trades. If you
enjoy spending hours gazing at charts, then this may not be right for you. The goal in designing
Forex Nitty Gritty was to maximize your "pip potential" while giving you back your time to spend
AWAY from the charts.
Click here for our review.
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FapTurbo
More than 60,000 people worldwide trade with fapturbo and make millions in
combined earnings every day.
FAPTURBO has 2 built-in strategies:
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Short Term Scalping Strategy
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Long Term Advanced FAP strategy
Each strategy is designed for its own timeframe & currency pairs. For example
Long term strategy works only on EURUSD M1. The scalping short term strategy works on 4 pairs:
EURGBP, GBPCHF, EURCHF & USDCAD, M15 Timeframe.
Click here for the review.
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Forex
Mentor
The best kind of Forex training can be with an individual mentor. This would be
someone with many years of Forex experience who can offer insights and strategies learned
through the course of conducting thousands of transactions. Forex Mentor usually charge
a lot of money - thousands of dollars is not unheard of. Working with a master trader
can provide valuable insight into the psychology of Forex
trading.
Peter Bain's Forex mentor Currency Trading Video Seminar Course and Mentorship
Program is the most talked forex course in the Internet today. And now you can own
it with very affordable price.
Click here for our
review.
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FREE - Forex Trading Success Roadmap
This is a free ebook that provide you step by step guide to moving up to the
expert level in a way that is simple and keeps your risk levels at a minimum. You will also
learn how to develop your own winning psychology
Click here for more info.
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