The History Of Forex

When foreign trade began, it was not an international trade market. It was borne out of the Bretton Woods agreement in 1944, which set forth that foreign currencies would be fixed against the dollar, which was valued at $35 per ounce of gold. This precedent was first put into practice in 1967, when a bank in Chicago refused to fund a loan to a professor in sterling pound. Of course, his intention was to sell the currency,...

The Importance of a Forex Education

An individual who wants to become successful in forex trading should learn and understand the basics. There are many traders who lost a great amount of money in forex trading. It is because they are not properly educated about forex trading and its processes. So, to survive in the forex trading markets, it is imperative that future traders should have a forex trading education. Forex trading can be the best way to earn huge...

Who Moves the Forex Market

It is true that the Forex market is the largest market around the world not just in terms of average daily turnover and average revenue per trader. It is also the largest market in terms of participants. Banks They are not just for saving money and lending capital to entrepreneurs, but they are one of the major players in Forex market. Banks cater both to large quantity of speculative trading and daily commercial turnover....

Overcoming Fear During Forex Trading

Market knowledge and ability to understand analysis will only get you so far in Forex trading, but without the nerve to actively compete risking your own money in the process you can never become a successful trader. Wagering huge volumes of money in a market as susceptible to change is liable to cause a whole range of opposing emotions; fear, excitement and anxiety just to name a few. Battling against your emotions in order...

How the Forex Market Works

All trades related to foreign exchange are based on purchasing one kind of currency against another. This gives rise to the concept of pairs like the Euro/U.S. Dollar. The first currency in the pair is referred to as the base currency (the one that provides a baseline for the purchase or sale) while the second one is termed as the counter or quote currency. While buying, an exchange rate specifies how much should be paid in...

Forex Trading Platforms

If you are looking to get started trading the Forex, you will find that there are numerous Forex trading platforms available (both web based and desktop based) for you to use in your trading. In fact, most brokers offer clients a trading platform for free or as part of their trading account. Usually the trading platform that comes with your trading account is a very basic “bare bones” model. Sometimes, more...

Reading Forex Charts

Learning the basic skills in forex, such as how to read forex charts, is really important. This is because once you have this vital skill under your belt, it will be a lot easier and quicker when the time comes for you to learn and practice an actual forex trading system. By the time you finish this article, you’ll learn how to read forex charts, as well as know the pitfalls that can occur when reading them, especially...

Mock Trading

If you are new to Forex, you are likely overwhelmed by the sheer amount of information you are finding about currency trading. Although the concept of trading the currency markets is simple to understand, the actual trading methodologies and understanding of how, why and when trades are executed can be hard concepts to grasp and fully understand. If you aren’t aware by now, forex trading is not without substanial...

Candlestick Basics

Candlestick charting is a form of ancient charting originated from Japan used to convey – in a graphic form – information of the open, high, low and close of a price movement within a time period. A series of candlesticks or even a single candlestick can provide a history of price movements, which we can use to analyze and predict future price movement. Candlestick analysis is used by many traders today to ...

8 Steps to Being a Successful Forex Trader

By definition of being a successful Forex trader, it means being a trader who makes more winning trades than losing ones and more importantly, profits than losses. I found out that the many traders who leave the Forex market forever after getting burnt badly in the first few weeks of their short-lived trading careers have something in common – they fail to follow a disciplined and step-by-step approach to getting started on...

10 Advantages of Trading Forex

There are several advantages of trading in the Forex market that is superior to the stock market. They are listed below. 1. 24 hrs a day – The Forex market is open 24 hours a day. Due to this, there is always a suitable time for anyone around the world to trade. Unlike the stock market which operates only during working hours, Forex allows office workers the opportunity to trade after returning home from work. 2. No...

Is It Easy to Make Money in Forex?

Yes, it is easy to make money in Forex. But make no mistake; it is much easier to lose money in Forex. I’ve read from many sources that over 90 percent of Forex traders lose money in the Forex market, and the rest are profiting off these losing traders. I suspect this to be very close to the truth. The good news is – it is definitely possible to be on the winning team. The bad news is – it will take a lot of learning...

What is Forex?

Forex, or FX, stands for Foreign Exchange. It involves the simultaneous purchasing of one currency while selling another as currencies are always traded in pairs. For example, you can trade the Euros against the USD, the Great British Pounds against the USD, the USD against the Japanese Yen and so on. When one currency goes up in price, the other currency declines. At some point or another, we are all involved in helping to...