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Forex Trading: a Beginner's Guide
The forex market is the world's largest international currency trading market operating non-stop
during the working week. Most forex trading is done by professionals such as bankers. Generally
forex trading is done through a forex broker - but there is nothing to stop anyone trading
currencies. Forex currency trading allows buyers and sellers to buy the currency they need for
their business and sellers who have earned currency to exchange what they have for a more
convenient currency. The world's largest banks dominate forex and according to a survey in The
Wall Street Journal Europe, the ten most active traders who are engaged in forex trading account
for almost 73% of trading volume.
However, a sizeable proportion of the remainder of forex trading is speculative with traders
building up an investment which they wish to liquidate at some stage for profit. While a currency
may increase or decrease in value relative to a wide range of currencies, all forex trading
transactions are based upon currency pairs. So, although the Euro may be 'strong' against a
basket of currencies, traders will be trading in just one currency pair and may simply concern
themselves with the Euro/US Dollar ( EUR/USD) ratio. Changes in relative values of currencies
may be gradual or triggered by specific events such as are unfolding at the time of writing this - the
toxic debt crisis.
Because the markets for currencies are global, the volumes traded every day are vast. For the
large corporate investors, the great benefits of trading on Forex are:
Enormous liquidity - over $4 trillion per day, that's $4,000,000,000. This means that there's always
someone ready to trade with you
Every one of the world's free currencies are traded - this means that you may trade the currency
you want at any time
Twenty four - hour trading during the 5-day working week
Operations are global which mean that you can trade with any part of the world at any time
From the point of view of the smaller trader there's lots of benefits too, such as:
A rapidly-changing market - that's one which is always changing and offering the chance to make
money
Very well developed mechanisms for controlling risk

2. Ability to go long or short - this means that you can make money either in rising or falling markets
Leverage trading - meaning that you can benefit from large-volume trading while having a
relatively-low capital base
Lots of options for zero-commission trading
How the forex Market Works
As forex is all about foreign exchange, all transactions are made up from a currency pair - say, for
instance, the Euro and the US Dollar. The basic tool for trading forex is the exchange rate which is
expressed as a ratio between the values of the two currencies such as EUR/USD = 1.4086. This
value, which is referred to as the 'forex rate' means that, at that particular time, one Euro would be
worth 1.4086 US Dollars. This ratio is always expressed to 4 decimal places which means that you
could see a forex rate of EUR/USD = 1.4086 or EUR/USD = 1.4087 but never EUR/USD =
1.40865. The rightmost digit of this ratio is referred to as a 'pip'. So, a change from EUR/USD =
1.4086 to EUR/USD = 1.4088 would be referred to as a change of 2 pips. One pip, therefore is the
smallest unit of trade.
With the forex rate at EUR/USD = 1.4086, an investor purchasing 1000 Euros using dollars would
pay $1,408.60. If the forex rate then changed to EUR/USD = 1.5020, the investor could sell their
1000 Euros for $1,502.00 and bank the $93.40 as profit. If this doesn't seem to be large amount to
you, you have to put the sum into context. With a rising or falling market, the forex rate does not
simply change in a uniform way but oscillates and profits can be taken many times per day as a
rate oscillates around a trend.
When you're expecting the value EUR/USD to fall, you might trade the other way by selling Euros
for dollars and buying then back when the forex rate has changed to your advantage.
Is forex Risky?
When you trade on forex as in any form of currency trading, you're in the business of currency
speculation and it is just that - speculation. This means that there is some risk involved in forex
currency trading as in any business but you might and should, take steps to minimise this. You
can always set a limit to the downside of any trade, that means to define the maximum loss that
you are prepared to accept if the market goes against you - and it will on occasions.
The best insurance against losing your shirt on the forex market is to set out to understand what
you're doing totally. Search the internet for a good forex trading tutorial and study it in detail- a bit
of good forex education can go a long way!. When there's bits you don't understand, look for a
good forex trading forum and ask lots and lots of questions. Many of the people who habitually
answer your queries on this will have a good forex trading blog and this will probably not only give
you answers to your questions but also provide lots of links to good sites. Be vigilant, however,
watch out for forex trading scams. Don't be too quick to part with your money and investigate
anything very well before you shell out any hard-earned!
The forex Trading Systems
While you may be right in being cautious about any forex trading system that's advertised, there
are some good ones around. Most of them either utilise forex charts and by means of these,

3. identify forex trading signals which tell the trader when to buy or sell. These signals will be made
up of a particular change in a forex rate or a trend and these will have been devised by a forex
trader who has studied long-term trends in the market so as to identify valid signals when they
occur. Many of the systems will use forex trading software which identifies such signals from data
inputs which are gathered automatically from market information sources. Some utilise automated
forex trading software which can trigger trades automatically when the signals tell it to do so. If
these sound too good to be true to you, look around for online forex trading systems which will
allow you undertake some dummy trading to test them out. by doing this you can get some forex
trading training by giving them a spin before you put real money on the table.
How Much do you Need to Start off with?
This is a bit of a 'How long is a piece of string?' question but there are ways for to be beginner to
dip a toe into the water without needing a fortune to start with. The minimum trading size for most
trades on forex is usually 100,000 units of any currency and this volume is referred to as a
standard "lot". However, there are many firms which offer the facility to purchase in dramatically-
smaller lots than this and a bit of internet searching will soon locate these. There's many adverts
quoting only a couple of hundred dollars to get going! You will often see the term acciones trading
forex and this is just a general term which covers the small guy trading forex. Small-scale trading
facilities such as these are often called as forex mini trading.
Where do You Start?
The single most obvious answer is of course - on the internet! Online forex trading gives you direct
access to the forex market and there's lots and lots of companies out there who are in business
just to deal with you online. Be vigilant, do spend the time to get some good forex trading
education, again this can be provided online and set up your dummy account to trade before you
attempt to go live. If you take care and take your time, there's no reason why you shouldn't be
successful in forex trading so, have patience and stick at it!
For access to a mass of articles on forex and a large number of videos, please visit my site on
forex trading.
Hi, I'm Philippa Holmes (Pippa to my friends) and I have been involved in education and training
and the forex market for a considerable time. I have written extensively on the subject and can
count a considerable number of successful business people among my many past students. My
many reviews all emphasize the clarity of my writing and the ease with which absolute beginners
can get to grips with the subjects I present.
My web site http://www.master-forex-trading.com carries thousands of articles on forex trading and
a very large number of videos on the subject. As these are constantly changed it's well-worth a
regular visit - just to see what's new.
Remember, your success is my success so please do drop in and take a look.
Happy Trading,

4. Pippa
Article Source:
http://EzineArticles.com/?expert=Philippa_Holmes
==== ====
Do You Want To Learn How To Conquer The Forex Market By Trading Like The Pros With NO
Experience Required! Then Check This Site Out.
http://bit.ly/zGWgfu
==== ====