six days a week and is open 24hours per day. Because there are
trillions of dollars traded every day around the world there is an
opportunity to buy and sell with the intent of making a profit every
day and in some cases several times a day.
What makes the Forex market different to shares is that it is not run
through a Stock Exchange like New York or London but the transactions
are made through instantaneous transactions that can be placed from
anywhere in the world as long as you have access to your computer and
a broker.
The other major difference is that you as a trader can trade
regardless of which way the currency is trending. In other words if
the USD is going up in value against the GBP (or any other currency it
pairs with) you can buy USD and take your profit, and if you believe
it will go down in value you can sell and take your profit.
This is a very important point to understand, and is especially true
in today's global economy. If you held stocks or shares that were
plummeting in value you would be lucky to find a buyer and by the time
you did the value could have dropped even more.
Another main point to understand with the forex market is, you want
constant movement, with the currencies going up and down as this gives
the day traders more opportunities, when there is a large volume of
trading the waves are more predictable.
This is quite different from when the markets are volatile as they
have been over the last 6 weeks with some currencies. When they are
volatile any day trading can become high risk with random moves wiping
out your equity.
Some traders believe that trading on any Friday is high risk due to
Government announcements that cause spiking for a very short period
and cause you to lose your margin.
Forex trading is high risk if you approach it in the wrong way. You
must learn to manage your risks and look for ways to give yourself an
edge otherwise you are gamboling. Automated forex trading might be the
way for you to lower your risks.
Visit my website for more information.
Best Wishes For Your Success,
Steve J
Blogger of "Free Trading Tips : From Zero to millionaire" >>
www.simpletradingtips.com
P.S. Do People Really Become Forex Millionaires? Discover 10 Important
Questions and Answers to Succeed in Forex Trading.
Read My FREE Trading Tips on www.simpletradingtips.com
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