How to make money trading FOREX
62Foreign Exchange Currency
The key to making mony in the Forex marked is a tested strategy.
To avoid big losses you must stay with your strategy.Foreign Exchange Currency (FOREX) is the most liquid market available for traders. The daily volume is approx 4 trillion USD and it are growing day by day. Other benefits with trading FOREX versus stocks are:
- Large variety speculators
- 24 hours a day except on weekends
- Big leverage i.e. small deposit big position
- Large amount of factors that affect the exchange rates.
Foreign exchange market 1988 - 2007
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The Traders
The most traded currency pair is EUR/USD, USD/JPY and GBP/USD. The risk is huge, so the rewards are unreliable huge if you have the best FOREX trading system. You need to take some time to study the systems available on the internet. There are two main types of traders:
- Technical analysis: Forecasting the direction of currency pair through the testing past data, mostly price and volume.
- Fundamental analysis: Analyzing financial statements and health, and rates.
Market participants
Market participants:
- Banks
- Commercial companies
- Central banks
- Hedge funds
- Individual traders like you.
There are many factors that drive the FOREX Market, like market psychology, Economic factors, Inflation levels and trends.
