I have heard lots about forex in the past, and trading it. But, really have no idea what it is and what it means. Can anyone explain what exactly forex trading is and what it entails?
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Currency trading in today's volatile market is risky, leverage trading is what most people use. i.e. put in $5k and trade a position of $100k. Spaceman lists the ideal long-term scenario, but identifying shorter term daily or weekly opportunities is not as easy as it sounds. If it was THAT easy everybody would be doing it! Before you start I would be an advocate of talking to an FX professional who can put your risks in plain English AND suggests mechanisms and strategies that help minimise your down side risk.
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^ LOLZ....I never said it was easy......the basic concept is simple, buy at xxxx sell at yyyy if yyyy > xxxx you win if yyyy < xxxx you lose ....simple.
It's not easy to make consistent profits and become rich....but John Key did so how hard can it be really??????
Nothing long term about my scenario either (I never mentioned any time frame) if you can buy @ 0.655 and sell 10 minutes later @ 0.755 then sweet as, I wouldn't call that long term.......if it takes you 10 years then it's not really a win now is it.
Can you point to a time when the forex market wasn't volatile?????....or risky?????.....a volatile market with lots of ups and downs is just what you want as a trader. Providing you can pick those ups and downs of course, if the market is only going one way it's much harder to make money and "beat the market"
Cheers
SpacemanLast edited by spaceman; 04-05-2012, 06:11 PM.
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I herd them advertising on the radio the other day explain they had the lowest margins in the industry 0.7%. So that means you would need to have a positive currency move of 1.4% before you break even.
The only people who make money in FOREX trading are the lucky and the brokers who do the trading.
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Have a look at this link
The Forex Trading Coach by Andrew Mitchem, from a dairy farmer to a successful forex trader will share his success stories in forex trading.
I see Andrew every fortnight at a Cambridge business event. I think he is a little different than any other Forex trainer, as his home address is on his website.
RossBook a free chat here
Ross Barnett - Property Accountant
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Forex Trading involves transactions in which one party purchases a quantity of one currency by paying in a quantity of another currency. The Forex market is a global decentralized financial market for the exchange of currencies. Around the world various financial centers act as hubs for trading between a wide range of different types of buyers and sellers 24 hours a day, except weekends. It is the foreign exchange market that determines the value of one country’s currency relative to another.The primary reason the Forex market exists is to facilitate international trade and investment by giving businesses the ability to convert one currency into another.
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If you are going to cut and paste you need to add a link to the original source others it plagerism... http://www.learntotradethemarket.com...-forex-trading
Maybe try being a little creative if you want to plug your signature?
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Forex Trading is trading currencies from different countries against each other. Forex is acronym of Foreign Exchange. Forex trading involves transactions in which one party purchases a quantity of one currency by paying in a quantity of another currency. it relates to individual retail investors and traders is the speculation of the future rate of a particular currency pair.
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