If you are a forex trader, and if you have been closely following the happenings surrounding the Fx Market then am sure you've realized that the Fx Market undeniably is a massive goldmine for those who are ‘smart’...
When I say ‘smart’ I don’t mean having a degree from Harvard…what I mean is: the‘smart’ person understands that he/ she is an emotional being and also that the decisions they make when they Trade Online Forex are NOT usually based on ‘cold logic’...
How about those who have never but would love to grab a piece of this
Well, you're in the right place; the place where you don't need to listen to learn, just watch, read and
1. What is Online Forex Trading?
Well basically, Forex, otherwise known as Foreign Exchange, is the exchange of one country's currency for another's.
Online Forex Trading is the global buying and selling of foreign currencies.
Other names of forex are:
Retail Fx
Fx Spot
Established in 1971, It is operated through a global network of banks. It's an Over The Counter market (it has no headquaters and no central exchange point). It is the largest and least regulated financial market in the world. The main trading centers are:
Ø New York
Ø Sydney
Ø Tokyo
Ø Frankfurt
Ø London.
The daily turnover has increased from approximately 5 billion dollars in 1977 to 3.2 trillion dollars in today’s market. The NYSE only trades about 25 billion per day.
It is a 24 hr market, 5 days in a week – it runs from Sunday 5 p.m. EST through Friday 4 p.m. EST.
Trading begins in the Asia Pacific region followed by the Middle East, Europe and America.
Monday, February 22, 2010
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