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Forex Trading Currency Trading Currency | Gold Trading

Forex trading involves the simultaneous exchange between two currencies. Shares are bought and sold in order to make profits. The Forex market is not actually found in any physical place, instead is a network of banks and individuals all involved in the process of changing currency. Because of this, the Forex market is open 24 hours a day, following the three main markets, the United States of America, Europe, and Asia. The main currencies found in the Forex market are: EUR = Euro GBP = British Pound (Sterling, Cable) JPY = Japanese Yen CHF = Swiss Franc (Swissie) USD = United States Dollar NZD = New Zealand Dollar (Kiwi) AUD = Australian Dollar (Aussie) CAD = Canadian Dollar Forex trading is different from traditional stock trading as you trade on a margin, rather then the full sum of the contract at hand. With regular stocks, you must deposit the full amount of the shares. With Forex trading, a 1% margin is used, meaning you one have to pay 1% of the total amount of the contract. For example, if the contract price is 100,000 dollars, you are only required to place 1,000 into the account. The margin paid is more of an insurance policy just in case the trade goes bad. Successful Forex traders must learn the ins and outs of Forex trading before becoming successful. This often takes years of risking their money and time. In fact, new investors that try to trade on the market alone have a 95% failure rate. If you are new to Forex trading, you may have found that learning the basics needed to succeed may be a daunting task. The only real way to learn is to place yourself, and you money on the line as you learn the basics of the Forex trading system. This truly makes learning this new system a practice makes perfect situation. However, Statistics show that 95% percent of new investors who attempt to trade on the Forex market fail, meaning that you are potentially risking large amounts of money. Another option is hiring a Forex trading professional to do the work for you. This will take some of the pressure off of you. The only flaw with this option is you are still placing large amounts of money into the market through a human. While a professional would have the knowledge to rely more on statistics and numbers, they are still human, and human emotion can alter the way trades are completed. The only sure way a new investor can trade efficiently is by using a trading program. Trading programs not only rely on information rather then emotion, they have the potential to do all the work for you, eliminating the need for hours of studying to learn the basics of the Forex system. FreedomRocks is an online trading system that does just that. Once you account is setup, you define the preset limits and instructions, and then sit back and watch the program do the work for you. At the end of the day you have a potential of making large amounts of money, without the risk of doing it yourself. One alternative to going through the process of learning the system is using an online trading system such as FreedomRocks. FreedomRocks allows you to set the preferences you want, and will literally do the work for you. All you have to do is sit back and watch the profits build.

Frequently Asked Questions

  1. QUESTION:
    What’s an easy way to trade currency for profit?
    I see all these Forex trade currency sites, but I don’t get their explanation.
    What’s an easy way to do it? How much is needed? And what all needs to be done?

    • ANSWER:
      buy low then sell high?

  2. QUESTION:
    How much money do I need to get into Forex Currency Trading?
    How much money do I need to get into Forex Currency Trading??? Like whats the minimum and how much money could expect to make if I do well?

    • ANSWER:
      Hello,

      My recommendation is to start at least from 100-200$. Ff you will have less money on your account you need to wait a year to double it.
      Your income can depend from your style of trading.
      If you will trade manually you can make 100 pips a month. But, for example, if you will use at least semi-automated Forex system that will trade instead of you and can make up to 800 pips it’s completely another situation. When I was started Forex I made the right choice and start automated trading with Forexeasystems.

      Hope, you will succeed on Forex.
      Best wishes!

  3. QUESTION:
    How do I prepare for online Spot FOREX trading?
    I am musing to go into doing online Spot FOREX trading. What do I need to be aware/prepare myself to do well in it? I already read a few books on Getting started in Currency Trading, FOREX Trading Handbook, other online literature, Demo a few platforms. What would be better/best strategies for begineers?

    • ANSWER:
      Education is the strategy. Using someone elses strategy doesn’t work.

      The key factors to success in any trading (esp. Forex) are… in order of importance;
      Psychology (yours & the market)
      Risk Control
      Technical &/or Fundamental Analysis

      It can take 3-5 years to master the skills needed. Well over 90% fail in this endeavor.

      Good luck.

  4. QUESTION:
    what is the best way for trading currency?
    I am looking for the best way to trade currency.

    • ANSWER:
      I trade currency (Forex, FX etc). This market is minimally regulated & is significantly larger than the US Stock market. 90% of all the people that try Forex trading lose all their money. Of the winners…. they lose 40% of all their trades.

      Many brokers actually trade against you. They make money when you lose money.

      I love this market…. but…. take six months to a year before you put in 1 cent. Learn the skills you’ll need. Practice. Backtest. Start out very small. Don’t believe 90% of what you see from the brokers. Always move slowly. Part of the way to win in this market is picking trades carefully. It’s always better to not trade than lose money.

      This is 100 times more riskier than stocks.

      Read up on this. After you learn a little more, feel free to email me. DON’T JUMP IN!!!!!!!!

  5. QUESTION:
    Which company has the best reputation for currency (FOREX) trading?
    I’m interested in trading currencies with a FOREX account, but I’ve also heard plenty of bad things about numerous companies. Does anyone know which company has the best reputation for FOREX trading?

    • ANSWER:
      Wohoho, now you’ll get the list – everyone will pull in its own direction… :)

      In reality, it is difficult to answer, since there is no such rating. If you look at Forex brokers reviews online, there is so much controversy in opinions and experiences, that you’ll probably be lost.

      Use the common sense and own judgment. Of course, those companies that are obviously labeled online as scams should be avoided. For others, do a little of research: pay attention to the transparency of the company, by what authorities it is regulated, does it have sufficient information describing the smallest details about trading conditions, try their demo, try contacting them, see how well they respond. Do the same things as you would do when you choose a bank to deposit money.

      And finally, when you make a choice, don’t put everything in. Try it first – deposit a small amount. Get experience. If you are satisfied, go on further.

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Excerpt from: Forex Trading Currency Trading Currency | Gold Trading

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