What is a FOREX MARKET ??
April 13, 2007 8:52pm CST
hello guys, can anyone tell me in short what is the forex market...? i heard its about athe currencty difference in betweeen currencies of two countries. Is that true? how to begin trading in forex? Thank YOu
14 Apr 07
Yupe you right, you trade from the currencies movement in forex. You earn from the spare range from it. You can learn with virtual money first, until you really capable to real trade. Just visit some brokers websites such as, marketive.com (you can have free $5 to real trade, and also virtuals), interbankfx.com, northfinance.com to download the platform and become the member there. Learn virtual, and just read www.babypips.com as your basic knowledge as a forex trader. Just remember forex trading is high risk and high return investment, so manage the risk is a wise thing to do.
14 Apr 07
babypips... well, traders called the range point = pips. So we usually just ask each other, how many pips you get today, or how many pips you loss today -lol- I still can't explain why people crazy with that... you'll try, and maybe you will know after that, you'll get addict with that -lol- But it's fine, as long you can manage your loss, you still earn enough from forex trading.
20 Apr 07
Hello, Forex marketing is the name of buying 1 currency & at a same time to sell another currency. It is a very interesting bussiness which can make you milliontrate as well as 0trate. hehehehe. Be carefull about doing this bussiness & if u r interested in doing this bussiness then open demo account 1st on www.forex.com & do practice there. Do n't make real account directly.
14 Apr 07
FOREX trading in currencies ,you can start here at this website http://www.marketiva.com ,which support e-gold and give you 5$ as free real money , To start you should know some basic concepts like sell price ,buy price, points and you should follow up the news which concern currencies and economic one. If you are good enough to start you can add money 100$ for example , and you can duplicate this number in few days, but with high risk, You can follow Forex forums to be on touch with the latest news and upward and downward in prices.
• United States
22 Apr 07
It looks like you have received some great advise. I refer all my clients to babypips.com and I never let them trade with real money until they get a good handle on the market dynamics while trading demo accounts. There are really three basic types of forex traders. Technical traders study charts, price movements, pivot points and support and resistance levels. they spend a large amount of time in front of the computer and once proficient, they can make some pretty good educated guesses at the way the market will move. Fundamental traders trade on news releases that tend to move the currency pair prices quickly and steeply. If they guess correctly they can make good money. If not....well! The type of trading I enjoy sharing with my clients is based on a strategy called hedging. We buy two or more currency pairs that are closely related (correlated)and we can make money whether the market goes up or goes down. We get paid an interest payment every day, 7 days a week (we actually receive triple interest on Wednesday to account for the weekend). This is a conservative strategy that reduces risk and generates a monthly return far in excess of what a bank would give you as an annual return. We use no charts, no expensive software, no signal services, no ouija boards and no voodoo magic. Some people might consider it too boring because it just sits there and makes money. Cheers, paul email@example.com