Forex is also known as the foreign exchange market. It is one of the largest, widest and oldest financial market in the whole world. In the Forex market one currency is traded for another. The participants in this market exchange a foreign currency for their own. This Forex market includes currency traders who are involved in exchange rates. The small fluctuations in exchange rates are taken as advantage by these currency traders. The Forex market operates through a global network of banks, corporations, and also through individuals. It operates on a 24-hour basis, in almost all the major financial centers. It is possible for overnight execution of the clients either to have a take-profit and stop-loss orders. According to the BIS study, the daily average international foreign exchange trading volume was $1.9 trillion in April 2004. The Forex transactions [http://www.moneymakergroup.com/Technical-and-Fundamental-A-f161.html] are carried out by the Forex brokerage companies. The prices in the Forex market keep fluctuating without any dramatic changes unlike the stock market where lots of gaps can be seen. The Forex market can never be forced to stop. The daily transactions of Forex are carried out at the amount of 1 to 3 trillion dollars. There is no other stock market comparable to this amount of money. The Forex market is also risky at the same time. The statistics shows that almost 95% of the traders lose their money, while 5% have profit and less than 1% make a large fortune.
Knowledge, experience and a small amount of money is all that one needs to do Forex. A fresher in Forex should learn lots of strategies to use to be a winner. A vast homework is required to learn first before entering into the Forex market. One should learn and be aware how this market works and what are the factors that can take the exchange rate up or down. One should be able to manage his money effectively and not to lose everything. Most of the traders in Forex look out strategies that bring only profit to them. The profit should be a stable and should contain greed in it. One should be able to accept both profit and loss in the right spirit. Not every trade will be advantage for the one in Forex. There will be uncertainties in this Forex market. So one should accept the fact that the strategy of money management may make one to lose or win.
Knowledge, experience and a small amount of money is all that one needs to do Forex. A fresher in Forex should learn lots of strategies to use to be a winner. A vast homework is required to learn first before entering into the Forex market. One should learn and be aware how this market works and what are the factors that can take the exchange rate up or down. One should be able to manage his money effectively and not to lose everything. Most of the traders in Forex look out strategies that bring only profit to them. The profit should be a stable and should contain greed in it. One should be able to accept both profit and loss in the right spirit. Not every trade will be advantage for the one in Forex. There will be uncertainties in this Forex market. So one should accept the fact that the strategy of money management may make one to lose or win.
SHARE
