Here are 5 topics that will help teach you
Here are 5 Things I bet you didn't know about FOREX Trading?
1. What is FOREX?
Forex stands for Foreign Exchange It is a Global Market Place where all of the worlds currencies are traded. It is the largest, most liquid market in the world, with an average trading volume in excess of 5 Trillion dollars a day!
…That's a lot of Scrilla!
2. What is traded in FOREX?
First off, nothing physical is being traded in this market What is being traded however is Money …Buying and selling currency can be compared to buying and selling stocks in a company. But in the case of FOREX you are buying a share of a particular country or that country's economy.
So in technical terms, the exchange rate of a currency versus other currencies is a reflection of
the condition of that country’s economy, compared to other countries’ economies.
That being said, when you buy a particular country's currency you hope their economy will do
well, because if it does then you will make a profit when you sell it back to the market.
Traded as currency pairs, each country has it's own currency with it's own symbol, although many country currencies are traded in the market The major currencies traded in FOREX are
USD United States Dollar commonly called a “Buck”
EUR Europe or Eurozone – Euro commonly known as “Fiber”
JPY Japan Yen Yen
GBP Great Britain Pound Cable
CHF Switzerland Franc Swissy
CAD Canada Dollar Loonie
AUD Australia Dollar Aussie
NZD New Zealand Dollar Kiwi
This first column are the currency symbols. The first to letters in the symbol identifies the name of the country while the last letter identifies the name of the country's currency
(I bet you didn't know that huh?)
3. How does FOREX trading work?
When you trade currencies they are designed to be traded in pairs this simultaneous buying one currency and selling another creates a sort of tug of war between the two currencies which causes the exchange rates to fluctuate
based on which currency is stronger at the moment.
4. So exactly where is the FOREX market located and How Big is it?
Unlike the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE) the FOREX
market does not have a physical location. It exist anywhere there is an internet connection! (It's
part of the Matrix)It's ran electronically, within a network of banks, 24-hours a day 5 -days a week.This allows the Matrix – I mean the FOREX market to operate all over without a central location. This is why you can trade using your cell phone!
This Over-The-Counter (OTC) or Interbank is the biggest, most popular market in the world.
5. The Four Different Ways To Trade Forex
Like the saying goes , there is more than one way to skin a cat. There is more than one way to
trade in the FOREX market. Here are a few:
Among these, the most popular ones are spot forex, currency futures, currency options, and
currency exchange-traded funds (or ETFs).
A future contract is a contract that allows you to buy or sell an asset at a set price on a future
An “Option” contract gives the buyer the right “The option” but not the obligation, to buy or sell
and asset at a set price on or before the option's expiration date.If the Option contract was “sold” instead of bought, the seller would have the obligation to buy or
sell the asset at the set price at expiration.
Confusing? Yeah a little!
Exchange-traded funds allows you to purchase a basket of currency much like a mutual fund
allows you to purchase a basket of stocks. Here’s a list of the most popularly traded currency ETFs.
Spot Forex Market
….Alas, This is where you can make some money
This is the market where currency trades can happen immediately or on the spot.This market is all about simplicity. It's very liquid, meaning you can get in and out of a trade
immediately, the spreads are tight (you won't have to pay a large amount to get in and out of the
trade, and the market is 24 hours
And the best part…you can participate in the FOREX Trading market by opening an account with as little as $50
Want Proof of the Power of a Spot FOREX market account that went from $40 to $7000 in 2
To gain the same skills as the guy in the video above, learn to become a FOREX Trading student.
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