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[g] TRADE FOREX LIKE A PRO.
Forex trading or spot market as you may call it, is the biggest financial market in the whole world with the turnover of over $2 trillion a day. So, WHAT ARE WAITING FOR? This market is even more than New York Stock Exchange trades, which exchange only $25 billion a day volume.
SO, WHAT ARE THE ADVANTAGES OF TRADING FOREX?
• You are your own boss!
• You don’t need any customers!
• You don’t need employees!
• You can operate from home, work, vacation or anywhere else in the world as long as you have Internet connection.
• You never have to worry about job security, harassment or any other employment-related anxiety.
• You never need to worry about employer payroll, strikes, theft, rent increases, health inspectors, lease problems, being sued, etc…
• You don't need to do any cold calling.
• You decide which days you wish to work.
• You make the decision to take a vacation at a moment's notice.
• You are your own boss!
WHAT DO I NEED TO START THIS GAINFUL BUSINESS (FOREX)?
1. You
2. Computer
3. Internet connection
4. Desk (or sofa)
5. Good Training
6. Start up Capital
What is traded on the Foreign Exchange?
JUST MONEY. Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer (platform), and are traded in pairs; for example the Euro dollar and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).
I would personally advice you to learn this Forex because it has changed my life. It turns me from Zero to Hero. Not only does it pay you in Dollars but the gain on your money daily.
You don’t need a broker to trade for a commission but you alone make all the money for yourself….you gains all.
Which Currencies Are Traded?
The most popular currencies along with their symbols are shown below:
Symbol Country Currency Nickname
USD United States Dollar Buck
EUR Euro members Euro Fiber
JPY Japan Yen Yen
GBP Great Britain Pound Cable
CHF Switzerland Franc Swissy
CAD Canada Dollar Loonie
AUD Australia Dollar Aussie
NZD New Zealand Dollar Kiwi
Forex currency symbols are always three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.
When Can Currencies Be Traded?
The spot FX market is unique within the world markets. It’s like a Super Wal-Mart where the market is open 24-hours a day. At any time, somewhere around the world a financial center is open for business, and banks and other institutions exchange currencies every hour of the day and night with generally only minor gaps on the weekend.
The foreign exchange markets follow the sun around the world, so you can trade late at night (if you’re a vampire) or in the morning (if you’re an early bird). Keep in mind though, the early bird doesn’t necessarily get the worm in this market - you might get the worm but a bigger, nastier bird of prey can sneak up and eat you too…
Time Zone New York GMT
Tokyo Open 7:00 pm 0:00
Tokyo Close 4:00 am 9:00
London Open 3:00 am 8:00
London Close 12:00 pm 17:00
New York Open 8:00 am 13:00
New York Close 5:00 pm 22:00
The Forex market (OTC)
The Forex OTC market is by far the biggest and most popular financial market in the world, traded globally by a large number of individuals and organizations. In the OTC market, participants determine who they want to trade with depending on trading conditions, attractiveness of prices and reputation of the trading counterpart.
The chart below shows global foreign exchange activity. The dollar is the most traded currency, being on one side of 89% of all transactions. The Euro’s share is second at 37%, while that of the yen is at 20%.
