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Why You Should Trade FOREX Over Other Investments
by Penelope Housden
http://www.firstclassforex.com
Everyone has heard of stocks and shares, probably even the
futures market, but trading the FOREX (Foreign Currency
Exchange, or FX) market is a relatively new phenomenon.
Until recently, FOREX was the domain of the banking
fraternity (large banks can trade billions of dollars
daily), and the elite in financial and business circles.
But now it is possible for the average person to be a part
of this incredible ~ and very profitable ~ way of making a
living, thanks to the personal computer and an internet
connection. All done electronically and considered an over-
the-counter (OTC) market, trading is far easier and less
risky than either the futures or the stock markets. Money
can be made both on a rising and falling market, unlike
the stock market, which relies on shares increasing in
price to create profit.
More and more astute internet entrepreneurs are shunning
the traditional financial markets and turning to FOREX
trading. They know that it is possible to earn a full-time
income from part-time effort ~ if you'd like to make $200
to $3,000 for as little as ten minutes' work, and with
minimal risk, then FOREX is for you.
FOREX, the spot (cash) market for buying and selling
currency, is the largest financial market in the world.
Every day more than $1.5 trillion (yes, trillion) is
traded globally and, unlike the stock market, which has
fixed hours, it is a market that never sleeps. Somewhere
in the world, at any time of day or night, FOREX is open
for business, six days a week. The market starts each day
in Sydney and moves around the globe as other FOREX
financial centers open: first to Tokyo, then London and
New York.
In simple terms, currencies are traded in pairs, for
example the Euro and the US dollar (EUR/USD). The first
currency ~ in this case the Euro ~ is known as the base
currency; the second currency (here, the US dollar), is
the counter-currency. All trades result in the
simultaneous buying of one currency and the selling of the
other. Thus, in this example, if you place an order to buy
the EUR/USD, you are buying the Euro and selling the US
dollar. If you were to sell the pair, you would be selling
the Euro and buying the US dollar. There are many other
currency pairs, such as USD/JPY, GBP/USD, EUR/GBP, USD/CHF
and so on.
What makes trading FOREX an incredible way to make money
online, is that price movements are highly predictable,
creating trends that can be anticipated when it comes to
decide when to buy and sell. Contrasting with stocks and
shares, FOREX trading through brokers is commission free.
It is also possible ~ and definitely recommended ~ to open
a demo (practice) account with a broker first, where you
can learn to trade and gain experience before you part
with a cent of your own money.
Do you want financial freedom? With huge advantages over
other more conventional money markets, why not experience
the excitement of pips, rollovers, leverage, lots, long
and short positions, limit orders etc. and start to trade
FOREX. Good luck!
Penelope Housden.
For more information on FOREX trading, and a FREE report
showing how you can turn $300 into $30,000 in as little as
6 months, go to:
href="http://www.firstclassforex.com/">www.firstclassforex.
com
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