With over 6 million global searches, "Forex" is basically about teaching people and companies how to profit with foreign currency trading.
The Forex markets are huge, with over $4 trillion traded daily. Most of this is traded by huge organizations – central banks, hedge funds and the like – but individuals can also trade Forex, and it’s these individuals that the "how to trade with Forex market caters to. Teaching people is big business.
What’s Forex?
"Forex" stands for FOReign EXchange; it’s also known as FX. In a Forex trade, you buy one currency while simultaneously selling another.
Currencies trade in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Forex trading is used to speculate on the relative strength of one currency against another. The foreign exchange market is an over-the-counter market, which means that it is a decentralized market with no central exchange.
Most traders focus on the biggest, most liquid currency pairs. "The Majors" include US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. In fact, more than 85% of daily Forex trading happens in the major currency pairs.
The world’s most traded market, trading 24 hours a day
With average daily turnover of US$3.2 trillion, Forex is the most traded market in the world.
A true 24-hour market from Sunday 10 PM GMT to Friday 10 PM GMT, Forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York.
Unlike other financial markets, investors can respond immediately to currency fluctuations, whenever they occur – day or night.
Successful Trading?
To be successful in trading the Forex market you would have to have a system in place that would take care of your trades. There are such services available, and require you to purchase their services.
You could learn to do it yourself with wealth of information available on the Internet and with help of a few tools.
Forex Trading Tools
Fibonacci Retracement Calculator
Fibonacci Retracements Levels are known are not only the most popular but also the most effective retracement levels currency traders can use. The provided Fibonacci Calculator allows you to calculate Fibonacci Levels on up to 4 currency pairs at the same time.
Pivot Point Calculator
Pivot Points have been proven to be very helpful for all kind of trading styles. Not knowing the actual Pivot Points is an absolutely "no go" for traders who want to succeed. The Pivot Point Calculator helps to calculate Pivots quickly.
Woodie Calculator
If you ever heard or participated in the Woodie CCi Club from Ken Wood you already know that the Woodie Levels are a very good alternative to Pivot Points and Fibonacci Levels as well. The provided Woodie Calculator can be used to determine "Woodies" support and resistance levels with one click.
Camarilla Calculator
Usage from Camarilla support and resistance levels where first used from day trading legend Nick Scott and has been proven to be a powerful way to calculate possible market turning points. The Camarilla calculator can be used to calculate Camarilla levels on multiple forex trading pairs.
What Next?
It all can be very complicated if you are new to the Forex Market, but it doesn’t have to be.
You don’t need to know anything about the Forex market or how to trade it.
You can learn how to profit from the Forex Market with little or no experience go to Resource Box.
Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary
