By: Terry Allen
The Foreign Exchange Market (Forex) involves the simultaneous buying of one currency and the selling of another. Today, Forex is one of the largest and most liquid financial markets in the world which includes Forex trading between large banks, central banks, currency speculators, corporations, governments, other institutions and ordinary folk such as you and me. The daily turnover of Forex is reported to be well in excess of $3 trillion. The purpose of Forex is to facilitate trade and investment and it is unique because of its following features:
- Trading volumes
- Extreme liquidity
- Number and variety of traders
- Geographical dispersion
- Long trading hours which are 24 hours a day from Sunday 17.15 EST to Friday 16:10 EST
- The variety of factors that affect the exchange rates
- The low margins of profit compared with other markets of fixed income
- The use of leverage
There are many Retail Forex Brokers who offer individuals the opportunity for speculative trading on the Foreign Exchange Market. These Forex traders offer very sophisticated Forex trading platforms which provide you with rapid access to the Forex market. These Forex platforms contain features such as the following to greatly assist your ability to Forex trade:-
- Low spreads
- Trade currencies from Charts
- One Click Order Execution
- Audible Price Alerts
- Training courses and webinars
- Live Support
- Free Practice Accounts
In addition, there are many Forex tools and techniques and each one is claimed to be essential for ensuring financial success by its designer. You may need to experiment with as many as possible in order to determine your favorites. So you now have access to the amazing Forex market with all these powerful Forex tools. Surely, making a profit must be a walk in the park. Unfortunately not, as this course will demonstrate, unless you learn to view Forex in a totally different way.
Fundamentally, you will need to develop a philosophy that ensures that you will profit by capturing as large a consecutive sequence of successful trades as possible on a regular basis. This will not be easy as you are dealing with a subject that is the equivalent of trying to complete an unfinished 5,000 piece jigsaw puzzle picturing a scene comprising totally of light blue sky. Many popular technical techniques and methods used to study Forex were designed well before its birth and as such cannot cope with its complex actions and volatility. They either need to be significantly modified in order to do so or carefully integrated into a full Forex trading system.
This course will show you how to do this. One lesson will be published per day on DailyForex.
Disclosure: No positions