How To Start Trading On Forex, The Biggest Financial Market On The World
By: Sonja ت Balaban
Tags: Finance, Forex, Education, Trading, Buisness

How To Start Trading On Forex, The Biggest Financial Market On The World

I am not a broker, or a banker, or a trade professional.

I recently started working in brokerage company that deals with financial markets, but with focus on Forex. I wasn’t bless with dominant left brain hemisphere, so as you could guess, like an average literature writer I had no knowledge about this complicated business world, full of numbers.

So, I began the process of learning.

Let’s start from the beginning! Once upon a time in 1973 …

Before World War II, the world’s dominant currency was the British pound. However, during World War II, the British pound lost its primacy as a result of the war with Germany.

In years before and after the crisis in 1929. year to the American economy during World War II until today is gaining strength and the United States is becoming an economic power, as the result of that and the American dollar takes dominance, as the most powerful currency.

Not interesting, I know, but in time all those events lead to this.

Forex market or FX stands for two simple English words, ‘foreign’ and ‘exchange’.

Volume of this market is 5.5 trillion dollars and that makes it the biggest and most transparent market on the world.

Where Is It?

Well, on your computer!

Forex market is not limited on one location and there is no center as is the case with the New York Stock Exchange. Forex market is the OTC or Over The Counter (OTC) or inter bank market. So, it makes it much easier to approach.

But do not get confused, the centers for processing orders on the Forex market are located in several geographic locations.

These centers are: London, New York, Tokyo, Singapore, Frankfurt, Zurich, Paris and Hong Kong.

You can monitor the market on a platform where are presented all financial instruments that are traded in real time.

What Can We Trade?

Fist thing, is the one that makes the world go around.

Yes, that’s right! MONEY!

But if you think that is the only thing that is being traded on this market, you would be terribly wrong.

Although known as a currency exchange, in addition to currency pairs on Forex it is possible to trade with oil, gold, silver and other precious metals, world stock indexes and many other financial instruments. So, dig in your grandma’s jewelry !

Just kidding! Do Not Steal from your grandma! But if you were wondering if you can trade anything else on Forex, the correct answer would be YES!

To Make The Long Story Short, Why Should We Trade On Forex:

It is possible to carry out large transactions with a small role.

You can invest in several markets at the same time.

You can go limitation loss of profit, and with setting Stop Loss and Limit Profit functions on your tasks. Other markets are limited-time while the Forex market is not.

You can trade 24 hours, 5 days a week. Trading starts on Sunday, an hour before midnight, local time, when the market opens in New Zealand, followed by Australia, Tokyo, Hong Kong, Singapore and Dubai. Before closing these markets, open European market; . Then again open market in New Zealand and so on. Most of the data from the US have an impact on other markets, and then and has most market participants. For this reason, the opening of the US market at 14:30, then we have the greatest activity during the day.

Trading starts on Sunday, an hour before midnight, local time, when the market opens in New Zealand, followed by Australia, Tokyo, Hong Kong, Singapore and Dubai. Before closing these markets, open European market; . Then again open market in New Zealand and so on. Most of the data from the US have an impact on other markets, and then and has most market participants. For this reason, the opening of the US market at 14:30, then we have the greatest activity during the day. On other markets, mainly earning when prices rise. On the Forex market, you can earn when courses and prices fall.

Markets with a small number of participants and the low trading volume can be easily manipulated. On the Forex market, due to the very high volume of daily trading, it is impossible to manipulate it.

No cost of trading, no commissions, no hidden costs, no costs for broker, in fact no costs at all.

Do not be fooled, you do not know everything now, but this is a start. In trade journey are many steps, and tools that can help you invest and earn the money you want. Because let’s be true, everybody would like to get checks, and not to have to go to work. For us to get there, the first step is to

START LEARNING HOW TO!

Thank you for reading.

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