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All About Forex Trading

Saturday, January 9, 2010


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Foreign Exchange or Forex trading is done using the currencies, trading is done across countries (almost all countries) and that is how millions and millions are traded on a daily basis. The international trading market is similar in nature to the stock market, here also people buy and sell but obviously the international trading market is much bigger and larger than a country's stock exchange market. The prominent players in the Foreign Exchange trading include banks/ firms like Citigroup, Deutsche Bank, UBS, Barclays, HSBC, JP Morgan Chase, Morgan Stanley, Goldman Sachs, Merrill Lynch and ABN Amro, just to name a few.

In case you are interested in trading in the international market then you can go to any of the banks/ firms mentioned above and they are well equipped to handle your account and give you enough returns on your money. It is only with time that you start learning about the secrets of the trade and therefore it is advisable that first you do some research on your own and then enter the international trading market. Slowly and gradually you would start understanding where to invest and where not to invest.

The biggest players in the Foreign Exchange market are the big banks as they have plenty of money to invest on a daily basis and needless to say this is one way how these banks earn such hefty amounts. The money you park with the bank in your savings accounts are also at times utilized in making money by the bank. In case you are dealing with a small bank/ trading firm then it is advisable that before you embark on your vacation (planning to go abroad) you can enquire from your bank whether they have Foreign Exchange facilities or not. You can also get this information from the financial information sheet of a particular bank, as they have to bring it out for the general public, on a quarterly basis.

In case you are a novice to the Foreign Exchange market then you should first try and understand that in this trade one person or a group of people, one bank or a group of banks, one country or a group of countries are not involved, the trading takes place on a global basis and similarly many banks/ authorized brokers (of each country) are involved at the same time and needless to say millions and millions of people are involved as far international trading is concerned. The most traded/ preferred currencies that are traded in the international market include Dollars, Euros, Pounds, Swiss Franc, Australian Dollars and Japanese yen. Apart from the above there are many other currencies, of various other countries that are traded as well. The main international trading markets are based in New York, London and Tokyo. Again, apart from these centers there are many other smaller centers that are located in various other countries and even they are involved in Foreign Exchange market.




John Baker is an editor at http://www.ForexTopTen.com. By visiting the website http://www.forextopten.com you can read forex traders reviews about forex trading systems, trading courses, ebooks, softwares and brokers.


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http://EzineArticles.com/?expert=John_S_Baker

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Forex - How Does it Work?


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What is FOREX? To put in simple words, it is a name given to trades that take place between different businesses, banks, companies and governments that are located in different countries. FX, FOREX or Foreign Exchange Market, all mean the same thing.

Since the financial market is always changing, transactions are completed with the help of brokers and banks. Many scams have taken place as foreign companies or people set themselves up online to take advantage of people who do not realize that the FOREX trades should be done through a broker or a company which directly takes part in foreign exchanges.

FOREX trading implies that one currency is traded for another. Since it is a specialized trade, not all banks or financial centers offer this.

Many a times, individuals and small businesses become victims of scams as they do not take time to understand the working of the foreign exchange markets. If not invested through a broker or a bank, they may even end up losing all their investments.

An FX scam is one that involves trading but will turn out to be a fraud! In such cases you have no chances of getting your money back. In order to avoid falling into such scams, make sure to find out if the company is permitted to conduct business in your country.

In the past five years, thanks to the internet, FX trading and its awareness has grown manifolds. Banks are the safest source for carrying out such trades as they have licensed and trained brokers to carry out the transactions. Brokers get a commission for the transactions placed.

Another type of scam that you could fall prey to is the type of software you use. Different kinds of software are available that give you information about making trades and learning about the foreign markets. Always get the best possible information you need by consulting with your bank or your financial broker.




John Baker is an editor at http://www.ForexTopTen.com. By visiting the website http://www.forextopten.com you can read forex traders reviews about forex trading systems, trading courses, ebooks, softwares and brokers.


Article Source:


http://EzineArticles.com/?expert=John_S_Baker
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How To Choose A Good Forex Trading System


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Most Forex traders find it hard to choose a good trading system. In part because there's a lot of trading systems and, in the other hand, there are a lot of scams in this market. There are a lot of huge profits promises but hardly ever a trader can see a real profit in their account.

As a Forex trader, I found myself under these same circumstances. Although, as the time passed by, I created some special rules that a forex trading system must follow in order for me to buy it.

My first rule is only to buy a forex trading system that comes with a money back guarantee or a free trial period. For me, this is a very important rule because it shows me that the trading system developer really believes in what he is selling.

The second rule is to read reviews about the system I want to buy. But not any kind of reviews; the reviews I like most to read are from real forex traders. The more reviews I read about the product I want to buy, the better the idea I will have of what to expect.

The third rule before I buy a forex trading system is to carefully read the webpage where it is being promoted. This is sometimes hard because the pages are too long... But it is well worth the time. I eliminated many products with this rule and I'm very happy with my decision. I found out later, with other traders reviews, that those were scam products. If you have any doubt about the product or about what it does, contact the support team. If they have a quick answer, this is a good point for you to buy it because if, for some reason, you don't like the product after you buy it, pretty sure they'll refund your money fast.


If the forex trading system you chose fills these rules, then it is time to buy it. And here comes my fourth and last rule: test it first on a demo account. Almost all forex brokers have free demo accounts. This way, you can test the trading system and achieve some consistency before you commit your money to it. I believe that if you follow these 4 rules, you be able to chose the best forex trading system for you and make good profits with it.




John Baker is an editor at http://www.ForexTopTen.com

By visiting the website http://www.forextopten.com you can read forex traders reviews about forex trading systems, trading courses, ebooks, softwares and brokers.



Article Source:

http://EzineArticles.com/?expert=John_S_Baker

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Forex Market - Did You Know


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Foreign Exchange trading involves trading of foreign currencies, stocks and products of similar kinds/ types. While trading stocks in the international market currencies of your country and the stock of that particular company (country) is taken into consideration. Valuation of the money that you need to pay, in case you are buying some stocks (in a particular country) is done depending on the value of your currency in comparison to that countries value of currency. Those involved in the Forex market include banks, financial institutions, government agencies and corporate houses.

What makes the FOREX market different from the stock market?

Foreign Exchange as the name suggests involves a minimum of two countries and can take place on a global basis. The two countries are one, the country that invests and the second country is where the amount is being invested. Big banks do most of the transactions in the Forex market. On the contrary stock markets generally operate within a country and an individual can start trading, provided you have interest in trading in the stock market and you take all the necessary clearances.

What really makes up the FOREX markets?

The Forex market comprises of various transactions (numbers are very large in this case) and it also involves various countries. Generally Foreign Exchange trades in large values and volumes. Those involved in the Foreign Exchange business deal mainly with cash and assets that can be sold or bought at a very fast pace (liquid assets). There is no comparison between a stock market and the Forex market because the value and volume are substantially high in the Forex trade. Trading, in case of international markets, takes place throughout the day and night and at times even on weekends. You should not be surprised to know that in the year 2004 almost two trillion dollars was the daily average, as far as Foreign Exchange trading is concerned.

Foreign Exchange markets have existed for last thirty years. With the advent of computers and Internet, Forex trading has become much simpler and easier, as well as faster. Individuals and companies are getting more and more interested in Foreign Exchange market and hence this business is growing at a very rapid pace. In percentage terms Forex trading accounts for 10% of the total trade (Foreign). It might increase with time with more and more people and companies getting interested in Foreign Exchange business.








John Baker is an editor at http://www.ForexTopTen.com. By visiting the website http://www.forextopten.com you can read forex traders reviews about forex trading systems, trading courses, ebooks, softwares and brokers.


Article Source:

http://EzineArticles.com/?expert=John_S_Baker

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