what is forex

Forex market trading is trading money, currencies worldwide. Most all countries around the world are involved in the forex trading market, where money is bought and sold, based on the value of that currency at the time. As some currencies are not worth much, it is not going to be traded heavily, as the currency is worth more, additional brokers and bankers are going to choose to invest in that market at that time. 

Forex trading does take place daily, where almost two trillion dollars are moved every day – that is a huge amount of money. Think about how many millions it does take to bring about a total of a trillion and then consider that this is done on a daily basis – if you want to get involved in where the money is, forex trading is one ‘setting’ where money is exchanging hands daily. 

The currencies that are traded on the forex markets are going to be those from every country around the world. Every currency has it own three-letter symbol that will represent that country and the currency that is being traded. For example, the Japanese yen is the JPY and the United Stated dollar is USD. The British pound is the GBP and the Euro is the EUR. You can trade within many currencies in one day, or you can trade to a different currency every day. Most all trades through a broker, or those any company are going to require some type of fee so you want to be sure about the trade you are making before making too many trades which are going to involve many fees. 

Trades between markets and countries are going to happen every day. Some of the most heavily trades occur between the Euro and the US dollar, and then the US dollar and the Japanese yen, and then of the other most often seen trades is between the British pound and the US dollar. The trades happen all day, all night, and thought out various markets. As one country opens trading for the day another is closing. The time zones across the world affect how the trading takes place and when the markets are open. 

When you are making a transaction from one market to another, involving one currency to another you will notice the symbols are used to explain the transactions. All transactions are going to look something like this EURzzz/USDzzz the zzz is to represent the percentages of trading for the percentage of the transaction. Other instances could look like this AUSzzz/USD and so on. When reading and reviewing your forex statements and online information you will understand it all much better if you are to remember these symbols of the currencies that are involved.

article source : http://plrplr.com/81037/forex-markets-trading-internationally/

forex calendar

All beginners in forex trading search for an ultimate secret or special technique that will make the whole trading process much more simplified and turn $1 investment into millions with a simple click of a finger. Instead of waiting time and money desperately plowing the internet for useless promises and "holy grail", let's focus on the real thing - in order to make any profits, you have to follow the routine, plan and analyze every single trade you make.

Why you cannot adopt someone else's trading strategy?

There is a simple explanation - every trader typically designs his/her trading strategy based on their trading style. Therefore their system will most likely not work for other traders.

It doesn't mean, of course, that you cannot take a look at already successful strategy and remake it to fit your own trading style. With the right plan and daily discipline, you can soon build a profitable career among other forex professionals.

Analyze the Calendar and Focus on Priorities 

Every day, before you start trading, you should take a look at the economic calendar. There you can find a list of economic events and announcements that effect currency market on daily basis. Make sure to find the announcements and events that will be taking place within the next 24 hours - this way you will be on top of things and have time to prepare and plan your actions.

While You Trade - There is Nothing Else!

In order to avoid unnecessary distraction, turn off your phone, tv, email, facebook and other social sites while you trade. The last thing you need is an interference, sound alerts and chat requests while you are trying to concentrate and make major decisions.

Take a Break (or Two!)

You cannot chain yourself in front of the computer for the whole week. You should take time out on a regular basis (that should be also included in your trading plan. Apart from that, you should take a break from trading every time you disobey your own discipline - give yourself a punishment time out for misbehaving.

Why breaks are so important? Do you remember high school and math problems? I personally could sat for hours next to the text book and a piece of paper, trying desperately to solve a stubborn problem. Sometimes, however, I would be smart enough to stand up and give myself a break - get some fresh air, take a shower or get a snack. Somehow, after taking a break, I would come back to that math problem full of new ideas and much clearer understanding.

Same with trading - it is important to stay awake, responsible and sharp in mind in order not to lose all the money in your account in one click.
Don't Be Crazy!

It is important not to lose yourself in trading. Your family, friends and your dog deserve to see you from time to time, dressed in something rather than pajamas. Trading all day long will only make you obsessed, prone to overtrading and eventually a loser.

Interact with Other Traders

Forums are great source of different experiences and unique perspectives. You will soon notice that the same event can create absolutely unlike trades and interpretations. Forums can be great place to get some interaction with traders like you - share the joy of profits or complain about stupid mistakes.



Submitted by daniellefr
article source : http://www.articletrader.com/profile/daniellefr-73926.html

forex factory

Forex trading is all about putting your money into other currencies, so you can gain the interest for the night, for time period or the difference in trading money all around. Forex trading does involve other assets along with money, but because you are investing in other countries and in other businesses that are dealing in other currencies the basis for the money you make or lose will be based on the trading of money. 

Constant trading is done in the forex markets as time zones will vary and the markets will open in one country while another is near closing. What happens in one market will have an effect on the other countries forex markets, but it is not always bad or good, sometimes the margins of trading are near each other. 

A forex market will be present when two countries are involved in trading, and when money is traded for goods, services or a combination of these things. Currency is the money that trades hands, from one to another. Often times, a bank is going to be the source of forex trading, as millions of dollars are traded daily. There is nearly two trillion dollars traded daily on the forex market. Should you get involved in forex trading? If you are already involved in the stock market, you have some idea of what forex trading really is all about. 

The stock market involves buying shares of a company, and you watch how that company does, waiting for a bigger return. In the forex markets, you are purchasing items or products, or goods, and you are paying money for them. As you do this, you are gaining or losing as the currency exchange differs daily from country to country. To better prepare you for the forex markets you can learn about trading and purchasing online using free ‘game’ like software. 

You will log on and create an account. Entering information about what you are interested in and what you want to do. The ‘game’ will allow you to make purchases and trades, involving different currencies, so you can then see first hand what a gain or loss will be like. As you continue on with this fake account you will see first hand how to make decisions based on what you know, which means you will have to read about the market changes or you will have to take a brokers information at value and play from there. 

If you, as an individual want to be involved in forex trading, you must get involved through broker, or a financial institution. Individuals are also known as spectators, even if you are investing money because the amount of money you are investing is minimal compared to the millions of dollars that are invested by governments and by banks at any given time. This does not mean you can’t get involved. Your broker or investment advisor will be able to tell you more about how you can be involved in forex trading. In the US, there are many regulations and laws in regards to who can handle forex trading for US citizens so if you are searching the internet for a broker, be sure you read the print, and the information about where the company is located and if it is legal for you to do business with that company.

article source: http://plrplr.com/81038/forex-trading-should-you-invest/