Foreign Exchange (Forex) is the exchange of currency for another. The foreign exchange market is the largest financial market in the world, with over
$5 trillion changing hands daily and growing; more than six times the aggregate amount of the U.S. Equity and Treasury markets combined.
What is Currency Trading?
Currency trading occurs when one country’s currency is traded for another country’s currency at the prevailing exchange rate.
Before you can trade, you need to place a certain amount of money in what is called a margin account. You are guaranteeing other traders that you can pay them if you lose. That account is overseen by your broker. He monitors your account when you trade. He usually will not allow you to risk more than what is in your margin account.
The margin account exists so, as you win on a daily basis, they have a place to deposit your money. Conversely, when you lose, they have an account to withdraw the money.
Currencies are traded on a pip system. A pip is another word for a point in the currency trading. Traders are trying to capture pips. Depending on the currency, each pips is worth a different amount. For example; the British Pound is worth about $10 per pip that is traded per lot.
If you trade 1 lot and capture 40 pips, you just made $400. If you trade 10 lots and capture 40 pips, you just made $4,000.00, etc.
No. With your margin account, you are buying the right to trade one “lot” of a currency. Each lot equals a different amount of currency, depending on the currency being traded verses the US dollar.
Day Trading is when a trader buys and sells his lots or stocks that same day. He is in and out of the market that same day. He does not hold his position overnight or for a week, etc.
Absolutely! Trading is a profession that most anyone can learn. However, it doesn’t happen over night or in a few weeks. You must go through the same processes of education and mentoring that all professionals go through. Generally,we need to become conditioned that trading is simple.
NO, Traders seek price fluctuations and investors seek return on investment. Both require a calculated risk that is minimized by knowledge. You are always gambling when you don’t know what you are doing or uneducated, trading emotionally or with a “hot tip”. The Forex market is different because you control the amount you are willing to risk.
When you trade not knowing what you are doing, or off a tip, you are gambling. When you trade after you have been educated or mentored by a successful program, or by other successful traders, you are now taking a calculated risk.
Reliable sources indicate that about 5.2 trillion dollars of currency is traded daily on the Forex. The majority of the volume historically is generated by major investors, banks, financial institutions and governments.
Thanks to the Internet, more and more people like us are beginning to learn of the opportunities and are getting involved.
Register now on this site and select your availability to start.
If you get involved with the right company offering the proper education and mentoring, you can expect to create a financial performance expectation plan. Your plan will depend on how much you start out with, how knowledgeable and how unemotional you are.
Never enter the market without first paper trading, which is trading virtual money. Once you achieve a track record of consistently completing successful trades and prove to yourself you can trade, then and only then, should you enter the market with your own money.
Where money is involved so are emotions. Many people are quite knowledgeable about trading but can’t handle the emotions. Your emotions will be your biggest obstacle to successful trading. Not the techniques. To be a successful trader you cannot trade emotionally. You must trade logically. Our egos drive us to be successful 100% of the time, but in reality no one is successful 100% of the time.
Not even the professionals. Successful professional traders clearly understand the market is about logic, not emotions. They trade logically, not emotionally and they are the 10% who trade successfully all the time!
We encourage you to buy Investment in the foreign exchange (Forex Trading) Book. It’s written to show how step by step the forex market works to build a strong foundation in your trading. The market is vast and complex. Hundreds of authors have written books about most of the characteristics of the markets. There is a lot to know.
Success in trading comes by focusing on one or two markets and specializing in those markets. One must decide what they want to trade, educate themselves and then focus in on that area of the market. Purchasing all three books on the site will be of great help.
You will begin a personal involvement with a reputable firm and successful professional traders. We will teach you all the processes for becoming successful. We will provide you with personal continuing support, research and education. We offer advanced trading courses as you progress and guarantee during any course, if it’s not to your expectation, we will refund the cost of the course.
It typically takes about 1 week to attend the Beginners class and then start trading. We offer advanced trading courses as you progress and support you to earn money in trading as a beginner to pay for your advance course.
You have unlimited training and tutoring. Imagine joining a country club where every time you attend, you add value to your skills. Just think how good you would be. That is the value of unlimited training. Lifetime training for one fee.
Absolutely, your success is directly related to how soon you start. Start with a small realistic objective and practice, practice, practice.
Yes, you can access the Forex, commodities, stocks etc.
Forever, your success is directly related to regular refresher training. You can participate in the monthly class as many times as you like at no additional charge.
You would not go to a doctor, lawyer or CPA who was self-taught thru trial and error. Professional training shortens the learning curve and improves your chances of success.
Yes. You have to crawl before you walk. It takes time and discipline. It is just like starting any other business. Apply the right rules, attitude, and diligence and many folks then begin trading full time.
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