Archive for May 8th, 2008
What is FOREX?
The Foreign Exchange, also referred to as the “FOREX” or “Forex” or “FX” or “Spot FX”
market is the largest financial market in the world, with a volume over $1.95 trillion a
day. If you compare that to the $25 billion a day volume that the New York Stock
Exchange trades, you see how giant the Foreign Exchange really is. It’s actually more
than three times the total amount of the stocks and futures markets combined!
What is traded on the Foreign Exchange?
The answer is money. Forex trading is the
simultaneous buying of one currency and selling of another. Currencies are traded
through a broker or dealer 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).
This kind of trading is often very confusing to people because they are not buying
anything physical. Think of buying a currency as buying a share in a particular country.
When you buy, say, Japanese Yen, you are in effect buying a share in the Japanese
economy, as the price of the currency is a direct reflection of what the market thinks
about the current and future health of the country’s economy.
Here are the TOP SECRET ingredients needed to create the ultimate
business:
1. You
2. Computer
3. Internet connection
4. Desk (or sofa)
That’s it! No employees. No advertising. No cold calling. No inventory.
properly trained Forex trader can potentially earn BIG PROFITS in every single month,
week, or day! (Off course a poorly trained Forex trader can suffer big losses as well.)
Let’s continue on the with the TOP SECRET directions for creating the
ultimate business:
Here is where you begin your illustrious forex trading career.
Our Quickstart guide is a series of Forex lessons created to
quickly familiarize the clueless or kinda-clueless with the Forex
world.
Every industry has its own collection of jargon, and Forex is no
exception. You have to grasp Forex gobbledygook before you can
start trading. The lessons are designed to help you gain a better
understanding of what the Forex market actually is, who
participates in this foxy market, and how you can make money
trading Forex.
