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31-08-16 0 Hits

"Forex" as I learnt is an acronym for foreign exchange. Forex is the world's largest spot (cash) market for trading currencies. Forex Libra Code Forex or FX as it is also called is quite different from trading the futures market and a lot easier than trading stocks, yet more profitable. Forex is an over-the-counter (OTC) - inter - bank market. Because Forex is run electronically within a network of banks, it goes on continuously for 24-hour period, 4 pm EST Sunday to Friday 4 pm EST. 

 The Forex market has a daily trading volume of over $2 trillion. This is more than 35 times larger than the whole US equity market combined. If 1.5 million expert traders could take a million each from out of the Forex market every day, the Forex market will still be left with more money than the New York stork exchange every day! Who should trade Forex? Until 1998 Forex trading was the exclusive reserve of the inter-banks. However, every individuals like You and I can now participate. 

Nonetheless, you could loose a lot of money, yea; you heard me right, in this seemingly rosy environment, you could also kiss your cash good-bye in a second if you are not familiar with some basics like: when to go short - sell a pair, when to go long - buy a currency pair, placing of stops and limits, lots size to buy or sell, what currency to trade, pips to target at a given time, so on and so fort.

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