Forex Trading – Learn trading tips To Get Started With Forex
First we will explain What is forex
Forex is an abbreviation used to designate the Foreign Exchange market. The foreign exchange market, or FOREX, is the market of all currencies. In this market, traders can buy and sell currencies against each other in the hopes of making money.
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A quick overview of the history of forex
The Forex market is an old institution by now. Its origin can be traced back as far as the ancient times when our ancestors would trade coins for merchandise and evaluate the value of these coins. More accurately though, the Forex market found its more modern form around 1879 when the Gold Standard was adopted.
From 1879 until the invention of the internet, the Forex market has grown steadily. In 1973, the world introduced floating exchange rates which allows countries more freedom to manipulate their own currencies, and less dependency on the US Dollar. That same year, Reuters launched its trading computers which replaced phones and telex.
It’s often impressive to look back at the crazy numbers the Forex market gives us. Back in 1989, around 620 billion US Dollars were traded in this market every day. Nowadays we are upwards of 6 trillion US Dollars exchanged on a daily basis.
The unique size of the Forex market makes it an incredible source of opportunities for traders around the world.
Forex in the everyday life
Forex is not only for experienced Wall Street traders. Have you ever had to change money when traveling to a foreign country? If so, you’ve participated in the Forex market! You’ve used your home currency to buy another country’s currency, and then most likely changed it back on your way home.
The Forex market is extremely accessible for individuals around the world, which makes it a very attractive market to trade in. While it’s not always recommended by industry professionals, one could easily open a Forex trading account for less than $50 and start earning profits immediately. This is another unique property of this extremely volatile and lucrative market.
First step in the Forex world – choose your broker
|Broker||Min Account Size||Leverage||Spread||US Traders||Review||Open Account|
|5$||888:1||as Low as 0 Pips||Review||Visit Broker Demo|
|Up to 400:1||From 0.3 pips||Review||Visit Broker Demo|
|$100||400:1||As low as 2 pips||Review||Visit Broker Demo|
|$100||200:1||As low as 3 pips||Review||Visit Broker Demo|
Our Top Forex brokers list
Can I make money by trading forex?
This is one of the main questions professionals get when they are confronted with average wannabe investors. Is it really possible to make money? In one word: yes!
The forex market is the largest market available at the moment, with over $6 trillion exchanged every day. If you take in consideration the size of this market and its volatility, you can quickly see that forex offers amazing money making opportunities on a daily basis.
The beauty of it is that you don’t even need to start with a lot of money like you would have on other markets. You can start today with a couple hundred dollars, follow a simple but sound strategy, and start making money.
How easy is it?
Obviously making money is one thing, but most people want to know if it’s going to be difficult. Will it take a lot of time? Will I have to stay in front of my computer for 10 hours a day, reading market reports and studying?
One advantage of the forex market is that single investors can do really well in it. You can trade long term time frames that allow you to place or update trades only once a day or even once a week! Tons of people have small investments in the market on the side of their day job and only have to look at their trades 5 minutes per day.
Getting involved in the forex market and starting to pull out profits is easy and there should be no reason for you not to do it
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