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Currency Trading Information Channel |
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Currency Trading Information Channel |
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A Short Introduction To FOREX (Foreign Exchange)FOREX is the world's largest and most liquid trading market. Many consider FOREX as the best home business you can ever venture in. Even though regular people have had the opportunity to take part in trading foreign currencies for profit (in the same way banks and large corporations do) since 1998, it is just now becoming the cool, hip, new "thing" to talk about at parties, business events, and other social gatherings. Even though it has been somewhat of a loosely guarded secret, every day more and more investors are turning to the all-electronic world of FOREX trading for income and profit because of its numerous benefits & advantages over traditional trading vehicles, like stocks, bonds and commodities. But, still, whenever something seems new or is just becoming a part of social conversation, news articles, and water cooler gossip, misconceptions have to be overcome, the mind has to be open and the slate has to be clear for starting out fresh with the CORRECT information. So, in this article, it is my attempt to give you some solid, but not over-detailed, information on just what the heck "FX" (FOREX) means, what it is, and why it exists. As a successful trader said, Trading FOREX is like picking money up off the floor. Not trading FOREX is like leaving it there for someone else to pick up." Others in the industry have also said, Trading FOREX is like having an ATM machine on your own computer. Here's an explanation (one I feel you'll appreciate) of what FOREX is and how a bunch of traders, profit from it: The Foreign Exchange Market, also referred to the "FOREX" or "FX" market, is the spot (cash) market for currency. But, don't mistake FX as trading the futures market, where you buy a contract to purchase a particular currency at a future price in time. What FX traders do is much less risky than trading currencies on the futures market, much more profitable, and a lot easier, than trading stocks. So, you're probably wondering where it's at ... or ... how to access the FX market? The answer is: FX Trading is not bound to any one trading floor and is not centralized on an exchange, as with the stock and futures markets. The FX market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period. Yes, if that's the first time you've heard about an all-electronic market, I know this may sound somewhat intriguing to you. Here's what you are actually trading when you participate in the Foreign Exchange (FOREX) market: Essentially, like the large banks who use the FX market to protect themselves from the fluctuating exchange rate of different currencies, as an investor, what a FX trader is doing is simultaneously exchanging one countries currency for another. So, in actuality, they're electronically trading a currency-pair and the price that is quoted to us is the exchange rate between the two currencies. In other words, simply the quoted price is how many of the one currency is worth 1 of the other currency. Example: EUR/USD last trade 1.2850 - One Euro is worth $1.2850 US dollars. The first currency (in this example, the EURO) is referred to as the base currency and the second (/USD) as the counter or quote currency. The FOREX has a DAILY trading volume of around $1.5 trillion dollars - 30 times larger than the combined volume of all U.S. equity markets. This means that 1,498,574 skilled traders could each take 1 million dollars out of the FOREX market every day and the FOREX would still have more money left than the New York Stock exchange every day! The FOREX plays a vital role in the world economy and there will always be a tremendous need for the FOREX. International trade increases as technology and communication increases. As long as there is international trade, there will be a FOREX market. The FX market has to exist so a country like Japan can sell products in the United States and be able to receive Japanese Yen in exchange for US Dollar. There's plenty of money to be made using FOREX for plenty of traders that use the right trading techniques / tactics that will allow them to profit immensely. And, with only 5% of the daily turnover of volume coming from banks, government and large corporations who need to hedge, the other 95% is for speculation and profit. http://www.1-forex.com Omar Vargas; Forex trader and freelance writer.
 MORE RESOURCES updated Mon. March / 27 / 2023Pairs in Focus This Week – EUR/USD, Gold, GBP/USD, USD/JPY, Oil, USD/CAD, AUD/USD, NASDAQ 100 DailyForex.com Canadian Dollar Hits 2-Week Low Against the US Dollar Interchange Financial Conotoxia to Launch Investment Advice for Retail Traders Finance Magnates De-Dollarization: More Countries Seek Alternatives to the U.S. Dollar Elements by Visual Capitalist The benefits of adding forex trading to an investment portfolio Business Review Yuan’s elevated trade use all talk. Russia would give right arm for US dollars South China Morning Post GBP/USD: Weekly Forecast 26th March - 1st April DailyForex.com Currency trading and its 7 pairs Pulse Ghana Why does it cost almost $40 to exchange $200 at the airport? It’s time for travellers to get a better deal Toronto Star How the tail is wagging the dog in forex trading Business Daily Tinkoff Bank to suspend Euro currency trading TICKER NEWS Kotak maintains Reliance Industries at Buy (1) Investing.com India Dow futures lift following positive week, banking sector in focus Investing.com India Kenya: CBK Tightens Foreign Exchange Rules for Banks AllAfrica - Top Africa News Penny Stock Locked At 5% Lower Circuit, Hits New 52-Wk Low ... Investing.com India Global researchers create digital database of over 1.1 bn natural ... Investing.com India Investors eye Hong Kong stocks without currency angst as June countdown begins South China Morning Post I visited Miami after the stock market crash, crypto bubble pop Business Insider Rupee rises 9 paise to 82.31 against dollar in early trade Free Press Journal Analysing the GBP/USD Market with TradingView London Post Ram Navami Holiday 2023: Is commodity market shut? Zee Business Federal Court Orders Texas Fraudulent Forex Trader and His ... Commodity Futures Trading Commission What are the different forex trading sessions? InvestingCube Is Forex Trading Legal? Public Finance International Who Controls The Forex Market DailyForex.com What Are The Benefits of Forex Trading Public Finance International What Are the 4 Types of Forex Traders? Which One Are You? DailyForex.com Best Pairs To Trade In Forex Public Finance International When is The Best Time To Trade Forex? Public Finance International What is FX trading? MoneyWeek What Is Lot Size in Forex Trading? A-Z Guide! DailyForex.com Forex vs crypto: what are the differences? IG International Learn why Binomo is better than Forex? The Economic Times Two Men Plead Guilty in $30 Million Foreign Exchange Fraud Scheme Department of Justice Forex trading, transactions with unauthorised dealers, websites can lead to trouble: How to check authoris Economic Times What Is Forex Trading? Finance Monthly CEO Of Cryptocurrency And Forex Trading Platform Charged With ... Department of Justice Is Forex a Pyramid Scheme Public Finance International US Dollar and Euro Currency Trading: Spots of Importance See It Market How Countries Should Respond to the Strong Dollar International Monetary Fund Forex vs. Crypto vs. Stocks Trading: 5 Factors to Consider MUO - MakeUseOf Can You Make Money Trading Forex? Finance Monthly
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