Dreamer
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Forex stands for 'Foreign Exchange' and is a financial market.
The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to read full market background by Easy-Forexâ„¢).
Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.
I copied and pasted this but there are a lot of very helpful articles regarding forex for beginners, forex/economic news, central bank and major currency news and tips regarding foreign exchange. Its located in the forex resources section of the site. Hope this helps! |
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Common Sense
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www.BabyPips.com is a "learning" web site, check it out.
CAUTION:
Trading Foreign Exchange (trading currencies) is one of the most challenging forms of speculative investing.
Some quick facts;
95% of all the people that try Forex lose most or all of their accounts. Of those people that make money.... they only get 60% of their trades correct.
"Drawdowns" will scare the daylights out of you. They may also make you go brooke in seconds.
The brokers will tell you how easy it is. All the brokers are poor to bad. Your job will be to pick a broker that's the least worst.
I'm not against trading FX. I'm simply suggesting that you take at least a year before you trade 1 penney. When you've see the "charts" you may think to yourself (what's so hard, I'm going to be great in this......)....... that type of thinking will cost you big.
Work hard, take your time and this can be very rewarding.
Consider yourself warned. |
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Founder, MastersoEquity.com
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FOREX = Foreign Exchange |
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R M
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You trade currency, this is done in pairs that is you for example trade in pairs Euro vs. Dollar, Dollar vs Yen etc... some exotic pairs are a bit more complicated because three currency's are involved that is lets say you are trading the New Zeland Dollar vs the Swiss Frank the US dollar would also be a factor as it is the currency in the middle.
Currency Trading is very risky, but you can start whats called a mini account and pratice with as little as $250-$300 dollars.
Also, most of the currency trading business have free pratice accounts in which you get to play with $50,000 (fake money). |
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jf
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it is the trading of currency values
http://www.forex.com/ |
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Ramesh N
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Take video presentation on forex trading.
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LIFE IS FOR LIVING - NOT FOR WORKING |
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billy d
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"common sense" and "bear" have it right.. it is very risky and risk management is the key to forex success... the 2 percent rule is a rule... not a guideline. hahaha like was said, get a practice account, go at least a year before you invest any at all.. if you cannot make money in a play account, you cannot in a real account.. come join the rest of us in this market of markets!! You have a lot of interesting reading and learning to do in the next year!!! a lot more than you would think!!
There are a lot of "free" lessons on the internet, read and study all of them.... ALL OF THEM! The market will soon make sense to you... at first you may make a lot, then the next month or two forget how to win a few pips, then back to gaining, then losing, until you finally know how to do it for real.
I would make one suggestion............ Learn how to "sit on your hands".. meaning know when to keep your hands off the mouse to click on a trade. there are times to be in the market and times to sit it out... learn the difference from the start. Don't trade because of boredom... learn to get up and leave the computer. You will miss some good trades, sure, but you will miss more bad ones! Learn the diff between a "trending" market and a "ranging" market... as a beginner, only trade in a trending market and only with the trend.. never guess the end of a trend or the beginning of another. "the trend is your friend until the end". |
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Bear
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The best way is with a mentor..this is different to stocks. There is no simple answer to your question, but with some study you can get the answers you want.
I can tell you that you will need a battle-tested trading system.
I have considerable experience trading and I do a course for anything I want to trade.
Below you will find Aden Rusfeldt's course as well as a free trading system you can pick up from the same page. |
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mid232002
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Forex is an abbreviation for the Foreign Currency Exchange which have been in existance for over 100 years but only became available to the general public 8 years ago in 1998... Due to the availability of the internet.. And it slowly been evolving into an industry of it's own.
Prior to 1998, The largest Banks and Financial Institutions of the world moved hundreds of millions of dollars between the Euro, Swiss Frank, Japanese Yen, British Pound and so on, capitalizing on the constant fluctuations of Currency Exchange rates between countries.
To give you an idea as to the size of this marketplace... There is more money trades on the forex markets in one day than all the worlds stock markets combined in 90 days? 2 trillion dollars... To put that into perspective... The US Annual Budget is 2.7 Trillion.
The advantages of trading Currencies over Stocks
I now setting up a course for people who want to learn Forex and also provide them with capital to trade. Reply back if you are interested. |
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Frank Castle
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1) Foreign Exchange.
2) You sell USD and buy EUR (Or any other currency)
3) Just go to the airport and buy EUR (Or any other currency) and hold them for a while and then buy your USD back. |
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Goalie43
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Foreplay at the "X" Games????? =^) |
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