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Forex Profits
By Anthony Trister, Thu Dec 8th
The Forex Market—What, When and Why? Forex, FX and the Forex market are some common abbreviations forthe Foreign Exchange market. Actually it is the largestfinancial market in the world, where money is sold and boughtfreely. In its present condition the Forex market was launchedin the seventies, when free exchange rates were introduced, andonly the participants of the market determine the price of onecurrency against the other proceeding from demand and supply. Asfar as the freedom from any external control and freecompetition are concerned, the Forex market is a perfect market. With a daily turnover of over trillions of dollars, the ForeignExchange market conducts more than three times the aggregateamount volume of the United States Equity and Treasury marketscombined. The Forex market is an over-the-counter market wherebuyers and sellers conduct foreign exchange business usingdifferent means of communication.
Unlike other financial markets, the Forex market has no physicallocation or central exchange. Since the Forex market lacks aphysical exchange, the market trades continuously on a 24-hourbasis, moving from one time zone to the next, across each of theworld’s major financial centers every day. Trillions of dollarsof foreign exchange activity takes place every day. From 1997 tothe end of 2000, daily forex trading volume surged approximatelyfrom US$5 billion to US$1.5 trillion and more (according tovarious recent studies it has touched $1.7 trillion per day anddwarfs all other markets for trading in size and volume). It isreally difficult, if not impossible; to determine an absolutelyexact number because trading is not centralized on an exchange.But one thing is for sure that the Forex market continues togrow at a phenomenal rate. Before the advent of Internet and ecommerce, only bigcorporations, multinational banks and wealthy individuals couldtrade currencies in the Forex market through the use of theproprietary trading systems of banks. These systems required asmuch as US$1 million to open an account. Thanks to advancementsin online technology,
Indian Rupee to Get Unique Symbol in 2010-2011
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.indiajournal.com/pages/event.php?id=10194" style="font-size:1.2em">Indian Rupee to Get Unique Symbol in 2010-2011</a>
<br> <span style="color:#888888;">India Journal</span> - <span style="white-space:nowrap">7 hours ago </span>
<div style="width:80%;">NEW DELHI - The Indian Rupee will this fiscal join the elite league of global currencies like US dollar, British Pound and Euro that have their unique symbols, Finance Minister Pranab Mukherjee ...</div>
</div>
New contract high for the Canadian Dollar
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/New_contract_high_for_the_Canadian_Dollar/190797" style="font-size:1.2em">New contract high for the Canadian Dollar</a>
<br> <span style="color:#888888;">Forex Hound</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">CURRENCIES: 03/11/10 Higher closes yesterday for the Aussie Dollar, Euro Fx and Swiss Franc while lower for the Canadian Dollar, Japanese Yen, British Pound and dollar index. The euro and franc ...</div>
</div>
British Pound Halts Slide, New Zealand Dollar Extends Decline Following RBNZ Rate Decision
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/article/winners_and_losers/2010-03-11-1700-British_Pound_Halts_Slide__New.html" style="font-size:1.2em">British Pound Halts Slide, New Zealand Dollar Extends Decline Following RBNZ Rate Decision</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">13 hours ago </span>
<div style="width:80%;">The British Pound halted the three-day decline and is the best performing currency against the US dollar on Thursday, while the New Zealand dollar extended the decline following the RBNZ interest ...</div>
</div>
British Pound / US Dollar 03-11
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-11-1544-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-11</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">13 hours ago </span>
<div style="width:80%;">After meeting resistance from former support / the 38.2% of the decline from 15825 / channel resistance, the GBPUSD has rolled over. I favor a drop below 14780 in a 5th wave. Risk can be moved to ...</div>
</div>
British Pound Outlook Turns Neutral
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/ssi/gbp-usd/2010-03-11-1554-British_Pound_Outlook_Turns_Neutral.html" style="font-size:1.2em">British Pound Outlook Turns Neutral</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">14 hours ago </span>
<div style="width:80%;">GBPUSD ? Much like with the Euro/US Dollar, recently range-bound price action in the British Pound/US Dollar pair has led to fairly lackluster readings in our SSI. The ratio of long to short ...</div>
</div>
British Pound Advances as Inflation Expectations Push Higher, Euro Holds Tight Range
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2010-03-11-1156-British_Pound_Advances_as_Inflation.html" style="font-size:1.2em">British Pound Advances as Inflation Expectations Push Higher, Euro Holds Tight Range</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">18 hours ago </span>
<div style="width:80%;">The British Pound halted the three-day slide against the greenback as a Bank of England survey showed a rise in inflation expectations, and the currency may continue to retrace the sell-off from ...</div>
</div>
British Pound exchange rates helped by Brown comments
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.economy-news.co.uk/pound-exchange-rates-11201003.html" style="font-size:1.2em">British Pound exchange rates helped by Brown comments</a>
<br> <span style="color:#888888;">Economy News</span> - <span style="white-space:nowrap">19 hours ago </span>
<div style="width:80%;">The pound euro exchange rate and the pound dollar exchange rate are both higher in morning trade. Yesterday was a mixed bag for the British Pound: Here is our analysis. Yesterday was a day of ...</div>
<a href="http://www.nuwireinvestor.com/articles/british-pound-tumbles-over-past-month-54825.aspx">British Pound Tumbles Over Past Month</a> - <span style="color:#888888">NuWire Investor</span><br>
</div>
Market exchange rates -- March 11
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=3937501" style="font-size:1.2em">Market exchange rates -- March 11</a>
<br> <span style="color:#888888;">istockAnalyst.com</span> - <span style="white-space:nowrap">Mar 11, 2010 </span>
<div style="width:80%;">BEIJING, Mar. 11, 2010 (Xinhua News Agency) -- The central parity rate of the RMB against five major currencies announced March 11 by the China Foreign Exchange Trading System: Currency Unit ...</div>
</div>
British Pound / US Dollar 03-10
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-10-1646-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-10</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 10, 2010 </span>
<div style="width:80%;">After meeting resistance from former support / the 38.2% of the decline from 15825 / channel resistance, the GBPUSD has rolled over. I favor a drop below 14780 in a 5th wave. Risk can be moved to ...</div>
</div>
GBP and JPY Under Selling Pressure
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexyard.com/en/market-analysis/afternoon/gbp_and_jpy_under_selling_pressure-2010-03-10" style="font-size:1.2em">GBP and JPY Under Selling Pressure</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">Mar 10, 2010 </span>
<div style="width:80%;">The leading events in the forex market today have been the sudden dip in the value of both the British Pound and Japanese Yen. With the GBP already facing sell-pressure from a string of bad data ...</div>
</div>
today investors with only a few thousanddollars can have access to the Forex market 24 hours a day andaround 5 ½ days of a week. The Forex market is a nonstop cash market where currencies ofnations are traded, typically via brokers called forex brokers.Foreign currencies are constantly and simultaneously bought andsold across local and global markets while traders increase ordecrease value of an investment upon movements. Foreignexchange market conditions can change at any time in response toreal-time events so it is also considered to be a highlyvolatile and fragile market too. Conditions of the Forex marketnever remain the same they changes every second. The foreign exchange market dwarfs the combined operations ofthe New York, London, and Tokyo futures and stock exchanges.According to its size and scope it is many times larger than allother markets. Stats shows that spot transactions and forwardoutright Forex trading take place in the inter-bank market. 51%of the market is in spot Forex transactions, followed by 32% incurrency swap transactions. Forward outright Forex transactionsrepresent another 5% of this daily turnover, with options on‘interbank’ Forex transactions making up another 8%. Thereforethe inter-bank market accounts for 96% of the global foreignexchange market, with the remaining 4% being divided among allthe global futures exchanges. For traders, Forex trading provides an alternative to stockmarket trading. While there are thousands of stocks to choosefrom, there are only a few major currencies to trade (theDollar, Yen, British Pound, Swiss Franc, and the Euro are themost popular). Forex trading also provides a lot more leveragethan stock trading, and the minimum investment to get started isa lot lower. Add to that the ability to choose flexible tradinghours (forex trading goes on 24 hours a day) and you have thereason why so many stock traders have flocked to day tradecurrencies.
About the author:Anthony Trister is a trader and is an owner ofOneDayTrades which offers free, mechanical forex signals and anautomated trading program for those wanting to trade forex. Freeaccess available here: http://www.onedaytrades.com
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Indian Rupee to Get Unique Symbol in 2010-2011
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.indiajournal.com/pages/event.php?id=10194" style="font-size:1.2em">Indian Rupee to Get Unique Symbol in 2010-2011</a>
<br> <span style="color:#888888;">India Journal</span> - <span style="white-space:nowrap">7 hours ago </span>
<div style="width:80%;">NEW DELHI - The Indian Rupee will this fiscal join the elite league of global currencies like US dollar, British Pound and Euro that have their unique symbols, Finance Minister Pranab Mukherjee ...</div>
</div>
New contract high for the Canadian Dollar
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/New_contract_high_for_the_Canadian_Dollar/190797" style="font-size:1.2em">New contract high for the Canadian Dollar</a>
<br> <span style="color:#888888;">Forex Hound</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">CURRENCIES: 03/11/10 Higher closes yesterday for the Aussie Dollar, Euro Fx and Swiss Franc while lower for the Canadian Dollar, Japanese Yen, British Pound and dollar index. The euro and franc ...</div>
</div>
British Pound Halts Slide, New Zealand Dollar Extends Decline Following RBNZ Rate Decision
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/article/winners_and_losers/2010-03-11-1700-British_Pound_Halts_Slide__New.html" style="font-size:1.2em">British Pound Halts Slide, New Zealand Dollar Extends Decline Following RBNZ Rate Decision</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">13 hours ago </span>
<div style="width:80%;">The British Pound halted the three-day decline and is the best performing currency against the US dollar on Thursday, while the New Zealand dollar extended the decline following the RBNZ interest ...</div>
</div>
British Pound / US Dollar 03-11
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-11-1544-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-11</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">13 hours ago </span>
<div style="width:80%;">After meeting resistance from former support / the 38.2% of the decline from 15825 / channel resistance, the GBPUSD has rolled over. I favor a drop below 14780 in a 5th wave. Risk can be moved to ...</div>
</div>
British Pound Outlook Turns Neutral
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/ssi/gbp-usd/2010-03-11-1554-British_Pound_Outlook_Turns_Neutral.html" style="font-size:1.2em">British Pound Outlook Turns Neutral</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">14 hours ago </span>
<div style="width:80%;">GBPUSD ? Much like with the Euro/US Dollar, recently range-bound price action in the British Pound/US Dollar pair has led to fairly lackluster readings in our SSI. The ratio of long to short ...</div>
</div>
British Pound Advances as Inflation Expectations Push Higher, Euro Holds Tight Range
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2010-03-11-1156-British_Pound_Advances_as_Inflation.html" style="font-size:1.2em">British Pound Advances as Inflation Expectations Push Higher, Euro Holds Tight Range</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">18 hours ago </span>
<div style="width:80%;">The British Pound halted the three-day slide against the greenback as a Bank of England survey showed a rise in inflation expectations, and the currency may continue to retrace the sell-off from ...</div>
</div>
British Pound exchange rates helped by Brown comments
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.economy-news.co.uk/pound-exchange-rates-11201003.html" style="font-size:1.2em">British Pound exchange rates helped by Brown comments</a>
<br> <span style="color:#888888;">Economy News</span> - <span style="white-space:nowrap">19 hours ago </span>
<div style="width:80%;">The pound euro exchange rate and the pound dollar exchange rate are both higher in morning trade. Yesterday was a mixed bag for the British Pound: Here is our analysis. Yesterday was a day of ...</div>
<a href="http://www.nuwireinvestor.com/articles/british-pound-tumbles-over-past-month-54825.aspx">British Pound Tumbles Over Past Month</a> - <span style="color:#888888">NuWire Investor</span><br>
</div>
Market exchange rates -- March 11
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=3937501" style="font-size:1.2em">Market exchange rates -- March 11</a>
<br> <span style="color:#888888;">istockAnalyst.com</span> - <span style="white-space:nowrap">Mar 11, 2010 </span>
<div style="width:80%;">BEIJING, Mar. 11, 2010 (Xinhua News Agency) -- The central parity rate of the RMB against five major currencies announced March 11 by the China Foreign Exchange Trading System: Currency Unit ...</div>
</div>
British Pound / US Dollar 03-10
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-03-10-1646-British_Pound___US_Dollar.html" style="font-size:1.2em">British Pound / US Dollar 03-10</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 10, 2010 </span>
<div style="width:80%;">After meeting resistance from former support / the 38.2% of the decline from 15825 / channel resistance, the GBPUSD has rolled over. I favor a drop below 14780 in a 5th wave. Risk can be moved to ...</div>
</div>
GBP and JPY Under Selling Pressure
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexyard.com/en/market-analysis/afternoon/gbp_and_jpy_under_selling_pressure-2010-03-10" style="font-size:1.2em">GBP and JPY Under Selling Pressure</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">Mar 10, 2010 </span>
<div style="width:80%;">The leading events in the forex market today have been the sudden dip in the value of both the British Pound and Japanese Yen. With the GBP already facing sell-pressure from a string of bad data ...</div>
</div>
Simultaneously buying one currency and selling another.
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