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Forex Trading Is Not Easy

September 29, 2012  by: ushakiran  Points: 12   Category: Money Market  Earning $0.60   Views: 821

Forex Trading is full of risks like stock market, so one has to be very careful while dealing with Forex trading.Like in shares many people lose their investment in Forex trading but continue to remain active with the hope of recovering their investment..

         

What is Forex trading?



Forex trading is nothing but trading in currencies. Besides giving you an opportunity to trade commodities and indices, Forex market also offers a wide range of tradable currency pairs that are from the major and more popular ones, to the exotic or the less common currencies. Most people don’t know that the Forex market is at least 10 times as large as the largest stock market.

The daily volume of Forex market is over $ 4 trillion, presenting a never-stopping stream of opportunities for an individual trader. The Foreign Exchange, or Forex for short, is the world’s largest financial market.

The Forex market comprises a global network of banks, corporations and individual traders, all trading one currency against another. Since Forex trading is taking place simultaneously on many exchanges across the globe, traders can take advantage of this market 24 hours a day, 5 days a week. The weekly session of a forex market starts at 11:00 p.m. (GMT) on Sunday in Tokyo and ends at 10:00 p.m.( GMT ) on Friday in Chicago.

If one is interested it is possible to maximize your portfolio’s potential irrespective of the direction of the markets, the potential is always there - whether the market is going up or down.One can open an account with as little as 25 dollars and most brokers help out with charts,research news ,trading signals and daily tips that help the traders.

A few useful tips



1, Forex trading is full of risks like stock market, so one has to be very careful while dealing with forex trading.Like in shares many people lose their investment in forex trading but continue to remain active with the hope of recovering their investment which may never happen , so beware and never make any huge investment even if your broker advises you to do so...

2, Make sure that you register with a time tested reliable forex trading company that has a good reputation and has been paying its members when they make a profit.

3, Read up everything there is to know about forex trading and also how to go about it, especially when conditions turn adverse and you have to come out of it.

4, Be prepared for some losses which is quite common and expected.But try to learn from each of these losses so that you are able to put that experience into use at a later date.

5,The only way one can make profit is by not being greddy and taking small profits as and when it happens.Also do monitor the market and your open deals for any unforeseen fluctuations and market trend reversals.

6, According to analysts - Try to diversify your trading across multiple currencies or simultaneously use strategies that work in different market conditions and these require some research and prior knowledge!

7,One can easily get caught in the quick trade movements and later the losses add up and this eats into your equity and later may even turn into negative balance, so be aware of market trends by keeping in touch on a daily basis .

8, Concentrate your trading activity during the trading hours for the three largest Market Centers - London, New York, and Tokyo. Most market activity will occur when one of these three markets are open.Some of the most active market times will occur when two or more Market Centers are open at the same time.




Comment(s)
Author: Sarika        
Posted Date: 10/01/2012    Points:2    

A very interesting and informative article. This article has raised my curiosity to read more about Forex. I had read this term many times and i knew it has got something to do with foreign currecies but as to what i had no idea. thanks for sharing this information.

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