If you want to become a Forex Trader, choose one of these mindsets.
The Independent trader or the Dependent trader
Which type of trader you are will dramatically affect the potential money you can make in the markets. In fact, it could well determine what the rest of your life will look like, whether it is how long you work for someone else, when and where you vacation, or where and how you live.
You may think that’s an exaggeration, but the reality is those who take initiative can positively affect the outcome of their lives (and their trading) as opposed to those who let others determine the course of their lives for them.
It is important to note that anything requiring little to no effort will produce limited, temporary or no results. Conversely, anything requiring you to think and act for yourself will produce lasting and permanent results.
Continue Reading →
Forex trading is done through major banks, market makers and brokerage RIDING HOURSES around the world, which together create a market of currency exchange on a virtual 24 / 7.
The Forex market is always “open” is the 7-Eleven’s business world and the largest financial network in the world with average daily shares traded for a total of dolaars trillion.
It is also a growing market as more operators to choose the trading of foreign currencies and away from stocks.
At its simplest, Forex trading involves two currencies exchanged similtaneously called “pair”. Fore example, the EUR / USD, trading of the euro against the U.S. dollar. Selling In this example, a buyer of this couple would purchase Euro and “the U.S. dollar. Continue Reading →
Here’s a typical scenario of trade:
Suppose that the current offer / request a quote for the EUR / USD 1.3802/05 and you want to have a long (or buying) because you think the euro will have on the dollar.
We’ll also assume that you are only purchasing 1 standard lot.
When you buy a pair, you are actually buying 100,000 Euros to U.S. $ 138,050 dollars. Using 100:1 leverage, you should have an initial margin deposit of $ 1381 for this activity to be undertaken.
Suppose then that the euro made gains in the dollar and trades 1.3865/68 hours and you decide to sell and make profits. You may sell 1 lot standard with a profit of 60 pips (1,3865-1,3805). Continue Reading →
