An Introduction to the FOREX Markets

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An Introduction to the FOREX Markets

An Introduction to the FOREX Markets Forex or FX is short for foreign exchange. The Foreign exchange market is the place in which currencies, such as the; yen, dollar or pound are exchanged for other currencies at a given price; the exchange rate.

Many Millions of currency exchanges happen every day. In fact it’s been reported that 5.11 TRILLION US Dollars is now traded every single day, making FX the biggest market in world by a long haul.

Whether you make an FX exchange purely to purchase a good or service with a different type of currency, or you are trading to make a profit, all transactions occur online between networks all over the world instead of on a centralized exchange, such as the L S E .

Ever wonder why so many FX Brokers want to find a service such as Worldwide Group, to help with fx signals sent to live customers globally?

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Join FxPremiere Group offers the very best in Forex Signal subscription Learning with the Guides Below get prepared to become a Pro in Forex once you fully educate yourselves with the literature included in this Category.

An Introduction to the FOREX Markets

How Can I make Money On the Forex Market?

This is what I will be teaching FXPremiere is a site designed to tell you how to make money even if you are a beginner, as easily and quickly as possible, this is why we specilise in automating the trading process, using robots, software and only on trading platforms that allow almost instant transactions. Becoming a professional forex trader isn’t an easy task, but if you absorb the information on this blog I’m sure you will find your feet and be able to earn a full time income within 1 year of trading.

What is Leverage in Forex?

Leverage is additional “trading amount” usually in the ratio or 100:1 or 200:1 that potential investors can acquire to increase the profitability of their trades. Leverage can allow traders to earn 100 times more than if they had just traded with their original investment amount. The video below perfectly shows what leverage is and why it is so advantageous. An Introduction to the FOREX Markets

FX Trade Example

An example of how money is made in a forex trade is below. It’s also important to remember that during a trade you are only ever trading on the relative value of a currency and not its actual worth. Another good example is situated here.

 

Due to the leverage of 100:1 the individual was able to make a huge profit off a relatively small movement in the currency price. (Although please note this is just an example trade, there is some terrible money management going on here and not what we teach on Elite Forex Trading at all. For more on this go to the money management post.

Mindset & Trading

Confidence vs arrogance – What’s better to be overly confident so that you don’t listen to anyone else? Or to be so arrogant that you ignore what everyone is saying? Well they are the same thing. Don’t confuse a couple of lucky trades with long term success. If you’ve been trading for 5 years with profit each and every month for 5 years then you have my respect. An Introduction to the FOREX Markets If you have made a profit after 2 months then you do not! Don’t get over confident until you hit 11,000 hours

. My switch in mindset lead to £82,000 profit my second year of trading. That’s from a starting capital of just over £25,000 in year 1! Bankroll management
, knowledge and correct mindset is how you become a profitable trader. Don’t rush, just learn. An Introduction to the FOREX Markets

What is a FX trading platform?

A Forex trading platform is simply a piece of software (usually a company) such as Etoro that allows you to make currency exchanges almost instantaneously. These are also referred to as brokers, but they simply allow you to make trades within the market. That’s the easiest way to look at them. These softwares can vary in terms of fees, bonuses offer, displays, interfaces, support and pretty much everything you’d expect to vary from company to company. Check out our list of the top fx trading platforms here for more information on platforms.

Short term (day trading) vs Long term trading? Download our FOREX APP

We’ve written a ton about the difference between day trading and longer term trading.

Forex trading is generally split up into 3 categories. Short term, which is any trade that lasts less than 24-48 hours. An Introduction to the FOREX Markets!.

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