Currency Markets Basics
Currencies that are traded via institutions and banks are done so in the foreign exchange market. The foreign exchange market has the biggest traded quantity of any market in the world. This market sees a whopping 4 trillion dollars being traded every day. It is a giant compared toward the New York Stock Exchange as the NYSE just trades around 30 billion dollars a day. The difference in volume between the two would be like comparing the moon with a gas giant. Further growth is expected owing toward the status of forex trading via the internet.
The forex market consists of many smaller markets around the world that form a single market. However, there are some major monetary centers around the world. Financial centers contain London (by means of far the biggest), Tokyo and New York. The forex market is open for trading 5 days a week, 24 hours a day. It is stopped for trading throughout the weekends. The forex market starts in Asia (Australia, Hong Kong) before it moves on on the way to Europe (London) until it ends up in New York.
Online trading (Stocks, forex) have seen a spike in status over the years. Not just limited toward stocks and forex, almost any security can be traded during the internet.
As such, thousands upon thousands of new and experienced traders alike have a wealth of information at their fingertips. Forex brokers are ecstatic over this. For it is common knowledge that forex beginners are there simply on the way to lose money in the first year. Owing toward the pace at which the forex market moves on occasion, huge profits or losses can be sustained in a matter of minutes.
It is a long and dangerous journey for most forex beginners. While the internet is rife with trading systems, it is best toward begin learning from the basics onwards. Avoid all forex signals, forex management software or any automated systems. Head on to forex factory, dailyFX and investopedia and start gleaning all you can from these excellent websites. - 23204
The forex market consists of many smaller markets around the world that form a single market. However, there are some major monetary centers around the world. Financial centers contain London (by means of far the biggest), Tokyo and New York. The forex market is open for trading 5 days a week, 24 hours a day. It is stopped for trading throughout the weekends. The forex market starts in Asia (Australia, Hong Kong) before it moves on on the way to Europe (London) until it ends up in New York.
Online trading (Stocks, forex) have seen a spike in status over the years. Not just limited toward stocks and forex, almost any security can be traded during the internet.
As such, thousands upon thousands of new and experienced traders alike have a wealth of information at their fingertips. Forex brokers are ecstatic over this. For it is common knowledge that forex beginners are there simply on the way to lose money in the first year. Owing toward the pace at which the forex market moves on occasion, huge profits or losses can be sustained in a matter of minutes.
It is a long and dangerous journey for most forex beginners. While the internet is rife with trading systems, it is best toward begin learning from the basics onwards. Avoid all forex signals, forex management software or any automated systems. Head on to forex factory, dailyFX and investopedia and start gleaning all you can from these excellent websites. - 23204
About the Author:
Vincent Khoo has been involved in stock trading and the currency markets for over 8 years. He has authored for several websites including the articles Forex Trading Review and Forex Market.
posted by X - Men @ 5:15 AM
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