Four Great Reasons to Trade Forex

This may be the first time that you have considered looking at trading in the Forex market. It may even be the first time you have come across the term Forex and want to know what it actually is. The purpose of this article is to give an introduction into the Forex market and look at why you should consider trading on this market.

The Forex market is completely different today than it was 30-40 years ago. Its changed markedly even over the last 10 years. If you are going to trade on the Forex, I highly recommend that you use one of the software tools that are available in the market and don't directly trade with one of the many trading accounts otherwise I guarantee you will lose money.

So, why would you consider trading on the Forex market? There is actually not one but 3 or 4 good reasons! The first reason is that this market, unlike any other market is trading 24 hours per day. This means that there is plenty of trading opportunity no matter where you are in the world. No matter what time zone you are in you will have access to the Forex market 24 hours per day between Sunday evening and Friday afternoon.

The second main reason for trading on this market is its liquidity. And what this means is the amount of trades that take place and also the volume that is traded. This will astound you! Based on figures for 2007, $3.2trn per day, that's 3.2 Trillion Dollars is traded on the Forex Market every day around the world.




The third reason for trading on the Forex market is the narrow spreads, which is the difference between "buy" and "sell" price, commonly known as the bid and offer. But what does this mean? Well, because of the "liquidity" and the number of people that trade this market, these spreads as they are known are extremely narrow.

The fourth reason for trading is the "volatility" of the market. Do not let this frighten you, this is good because it relates to price movements and it is these price movements that generate profits. One thing you need to know is that there are certain times of the day where there is greater volatility. It also depends on what currencies you are going to trade. There are some currencies that are more volatile than others.

In the Forex market you are basically betting one currency against another and if you have already looked into this market you will see that you are looking to buy or sell currencies in pairs. For example the US Dollar against The British Pound, or the US Dollar against the Euro. There isn't an unlimited combination of these currencies but there are common pairs, some as mentioned earlier, more volatile than others i.e. there will be more price movement during the trading period, up and down.

I have been trading the Forex market for quite some time now and I would advise that you obtain a software program that lets you trade the market whilst taking out the guess work. Remember that unless you have been trading the Forex for many years and can read the market trends you are more than likely going to be one of the many losers out there.

There are a number of products out there and some can be as much as $4000. I'd seriously consider looking at the software provided by the guys at the following site, particularly if you are new to the Forex. The best part is that it's less than $100 and comes with a money back guarantee. So what's the risk, get into trading the Forex now and earn yourself some easy $'s.

Forex Trading Secrets Exposed - 3 Lessons From Professional Forex Traders on Forex Trading

Almost 90% of the part time traders that I know of want to become full time forex traders in the near future. And they hope to be professional traders one day. That is the dream for most forex traders. What about you?

In order to survive in the forex trading world and make lots of money from the forex market consistently, being a normal forex trader is not good enough - you'll need to become a professional forex trader. So just what are the secrets that professional forex traders have that enable them to make lots of money trading forex? I once had a conversation with a friend of mine, who is a professional trader. He shared with me the 3 secrets that make professional traders like him very rich:

Secret #1 - Professional traders are not geniuses- they simply follow a simple forex trading system

You see it correctly, they are not any smarter than you nor do they possess of any god-like foresight in forex trading. I dare to say this because I know some professional forex traders who seem to know nothing in this world and clumsy in doing other stuffs but can do extremely well in forex trading. Why is that so?

It's simply because they have a successful forex trading system which gives them good forex trading signals. It helps them trade consistently. What they have to do is to repeat the consistency just by following the trading system. That's about all. And let me tell you a little more secret, professional traders use simple forex trading systems instead complicated, as what most people thought.




Secret #2 - Learn to work smart, not hard

Do you think that you should learn how to trade forex the hard way and gain all the knowledge before you can be successful? Do you think you can master the forex market if you combine all the strategies taught by every forex trading experts? If your answer is yes, you are wrong. In other businesses, you may get rewarded for all the efforts and time you have put into.
But in forex trading, it's the right forex trading tutorials and education that count and you are rewarded for being accurate and not so much for the effort you put in. You will be surprised to know that successful traders only follow a winning trading system blindly to build up their trading capital.

Secret #3 - They possess determination, discipline, money management and mindset for success

My professional forex trader friend once told me that he would leave everything aside just to concentrate on his forex trading. It's his determination to succeed that made him overcome small losses and steep learning curves that he experienced in the beginning. He told me the problem with most traders is that they are too eager to trade and make money fast from the forex market.

You need to have discipline to follow the rules of your forex trading system. Huge capital gains in forex are piled up over years and not days, there is no shortcut to riches. He manages his money so well that even 2 or 3 losses in a row will not affect his trading capital much. 1% or even 0.5% of his capital margin per trade is what he is only willing to risk.

Not everyone can be a professional trader in a short period of time as you need huge capital, but anyone can become successful in forex trading if you learn how to trade forex the professional way.

China's Gold Holding Surge 76% over Six Years

Based on the title, you’re probably groaning: ‘Wait, I thought this was supposed to be a forex blog?” Bear with me, however, as this subject is extremely pertinent to forex.

Last week, it was revealed that China has been clandestinely adding to its gold reserves since 2003, to the extent that its holdings increased by 76%, to approximately 1,050 tons. The news initially sent a ripple through forex and commodities markets, which were overwhelmed by the figures involved. After analysts had a chance to gather some perspective, however, the markets relaxed. You see, although the increase seems tremendous in size, it is quite small in relative terms.

It is relatively small compared to other countries: “This places China fifth in the world, ahead of Switzerland’s 1040 tons but behind the U.S. ranked first with 8,133 tons, followed by Germany (3,412 tons), France (2,508 tons) and Italy (2,451 tons).”

It is relatively small given the six-year duration of accumulation: “I think as soon as people realized it’s not a year-on-year increase, or a quarter-on-quarter increase, people realized it should not have that big an impact.”

It is small relative to China’s mammoth $2 Trillion forex reserves: “As a proportion of foreign exchange reserves, which have risen five-fold over the same period, gold now stands at a tiny 1.6 percent, versus 1.7 percent in 2003.”

On some level, the development has at least some symbolic importance, as it demonstrates that it cannot be taken for granted that China will simply continue to plow its (dwindling) trade surplus into Dollar-denominated securities, or even currencies in general. This is underscored by the suspicious timing of the announcement; China essentially waited six years before revealing its buildup in gold, probably in order to coincide with the uproar surrounding the Dollar’s role as global reserve currency. In other words, even though China’s gold purchases in and of themselves don’t amount to much, the Central Bank of China is trying to send a message that it will defend itself against “the depreciation risk of some foreign currencies.”

The announcement also explains the recent buoyancy of gold prices. Historically, there existed an inverse correlation between gold and the Dollar. This correlation has all but broken down as a result of the credit crisis, and for the first time a strong Dollar has been accompanied by high gold prices. Part of the reason may be increased buying activity by Central Banks, including the Bank of China: “The physical market remained well-bid by an unknown buyer despite bullion prices spiking to levels that normally cooled demand…Purchases were made in Shanghai, traders said, in an effort to absorb domestic production and lessen the impact of bullion prices on global markets.”

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