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The Forex Market Explained!
By John Kaka, Thu Dec 8th
The word Forex is an abbreviation for The Foreign ExchangeMarket. This is the market in which all is bough and sold ismoney itself, which means that with certain currencies you canbuy other kinds of currencies. It is the largest and most liquidfinancial market in the entire world. More than one trilliondollars exchange hands everyday on this market. It is a sea fullof money with potential to make large and substantial profits. Iexplain on this article what Forex is all about and how itworks. When talking about the Forex Market the following questionsarise. 1) How much money can I make at the Forex Market? A lot, you canmake a fortune!
2) Can I loose money at Forex? Yes you do. In fact you can looseyour entire portfolio just minutes after you start trading. 3) Is it volatile? Yes it is. It is very volatile. 4) Is it risky? Yes it is. It is very risky. 5) What is the leverage at this market? The leverage is usually100:1 on most firms but sometimes 200:1 and some firms offer upto 400: 1 leverage. This means that for every dollar that youhave available for trading you can borrow up to 100 to trade. Sowith $1000 USD you can control $100,000 of currency. No othermarket gives you so much liquidity and so much leverage at thesame time. 6) How did The Forex Market begin? Currencies like dollars andsterling pounds were backed up by gold until 1971. After 1971countries abandoned that norm and started to issue currencies asthey pleased so the Forex market originated where central bankscould exchange their home currencies for other countrycurrencies. That ensured certain security for the banks in casetheir own currencies devaluated against the one they wereexchanging it for. So if a bank sold dollars and bought sterlingpounds and the dollar devaluated too much in relationship withthe sterling pounds, the bank didn’t loose money, because theyhad bought large amounts of sterling pounds. Do not confuseForex with the money exchanging business. The money exchangingbusiness dates back to thousands of years ago. People exchangedone kind of coin for another, silver for gold, etc. Today weexchange one for another through The Forex Market. 7) Why did nobody know much about Forex until recently? Until afew years ago only the “big guys” could play this game. Theinitial requirement was that you could trade only if you hadabout ten to fifty millions to start. Remember that this wasintended to be used by bankers and multinational corporationsnot “little guys”. Forex was widely opened to everyone on the90’s decade, a very few years ago. It is the number one marketin many different aspects. It is the most liquid, largest and itis growing fastest than any other financial market in the world.It attracts many new investors because of its large leverage andlow starting funding requirement. Some firms let you start witha mini-trading account which reacquires only $300 - $350 to fundyour account
Rank Reports Profits Down Due to Investments in Marketing
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.online-casinos.com/news/news3110070.asp" style="font-size:1.2em">Rank Reports Profits Down Due to Investments in Marketing</a>
<br> <span style="color:#888888;">Online-Casinos.com</span> - <span style="white-space:nowrap">1 hour ago </span>
<div style="width:80%;">Despite a 10 percent rise in revenues in the first half of 2010, the UK land and gambling group Rank plc also reported this week a 23 percent decline in operating profit to GBP 2.3 million. (Great ...</div>
</div>
British Pound Volatility Ahead on Bank of England Rate Decision
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2010/07/30/fwf_073010_gbp.html" style="font-size:1.2em">British Pound Volatility Ahead on Bank of England Rate Decision</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">The British Pound may turn volatile in the week ahead as the Bank of England delivers the first rate decision based on an updated inflation outlook taking into account the government's austerity ...</div>
</div>
British Pound Spiked Up Further Against Majors
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.rttnews.com/Content/CurrencyMarket.aspx?Id=1377403&SM=1" style="font-size:1.2em">British Pound Spiked Up Further Against Majors</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">(RTTNews) - The British currency spiked up further against major opponents during New York mid-day trading on Friday. The pound climbed to more than 3-week high against the euro and a multi-month ...</div>
</div>
Euro slips back to $1.3015
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.13wham.com/business/story/Euro-slips-back-to-1-3015/ueFOlVd5Y0Ck2AXqtSbhmA.cspx" style="font-size:1.2em">Euro slips back to $1.3015</a>
<br> <span style="color:#888888;">13WHAM-TV</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">In this photo illustration a Euro note and a GBP note are displayed on April 17, 2008 in London, England. (Peter Macdiarmid, Getty Images) BERLIN (AP) ? The euro is a little lower against the ...</div>
</div>
Great British Pound (GBP) Technical Major Currencies (2010-07-30)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100730/great-british-pound-gbp-technical-major-currencies-2010-07-30.htm" style="font-size:1.2em">Great British Pound (GBP) Technical Major Currencies (2010-07-30)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">Despite of the pair moving within a bullish direction, signs of 1.5630 remaining intact are clearly appearing, where the harmonic bearish pattern has taken an AB=CD formation that has been ...</div>
</div>
Great British Pound vs. Japanese Yen (2010-07-30)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100730/great-british-pound-vs-japanese-yen-2010-07-30.htm" style="font-size:1.2em">Great British Pound vs. Japanese Yen (2010-07-30)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">The pair declined yesterday, but from a pure technical harmonic point of view, we can see on the daily chart a chance for resuming a suggested CD leg for AB=CD pattern. We have two technical ...</div>
</div>
British Pound Pressing against Resistance Line
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-07-29-1627-British_Pound_Pressing_against_Resistance.html" style="font-size:1.2em">British Pound Pressing against Resistance Line</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">The GBPUSD looks vulnerable but it is difficult to short without a point of reference to place a stop. It is best to wait for a top to form and then short a bounce. The GBPUSD rally has exceeded ...</div>
</div>
British Pound Turnaround May Be on the Horizon
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/ssi/gbp-usd/2010-07-29-1522-British_Pound_Turnaround_May_Be.html" style="font-size:1.2em">British Pound Turnaround May Be on the Horizon</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">GBPUSD - The ratio of long to short positions in the GBPUSD stands at -1.76 as nearly 64% of traders are short. Yesterday, the ratio was at -1.74 as 63% of open positions were short. In detail ...</div>
</div>
Forex spread betting: GBP in focus
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.spread-betting.me/spread-betting-forex-00402.html" style="font-size:1.2em">Forex spread betting: GBP in focus</a>
<br> <span style="color:#888888;">Spread Betting for Me</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">A roundup of technical insight and views from the forex spread betting and forex trading industry. Those looking at spread betting the British Pound should note that the Pound has declined ...</div>
<a href="http://www.economy-news.co.uk/exchange-rates-29201007-2.html">Exchange rates: British Pound in moderate declines</a> - <span style="color:#888888">Economy News</span><br>
</div>
Great British Pound (GBP) Technical Major Currencies (2010-07-29)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100729/great-british-pound-gbp-technical-major-currencies-2010-07-29.htm" style="font-size:1.2em">Great British Pound (GBP) Technical Major Currencies (2010-07-29)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">The pair continues the bullish trend within the bullish channel shown above, as the pair is closely nearing key resistance for the main ascending channel, accompanied by overbought signs through ...</div>
</div>
and start trading. 8) How can I make lots of money on The Forex Market or how can Iloose it all fast? You can leverage your positions at 100:1.That means that if you start with $1,000 at full margin you cantrade $100,000 of currency. Check this out. If you have $1,000to trade and you want to buy euros for example, if the EUR/USDpair is at 1.32 and it rises to 1.33 in ten minutes you make a$1,000 profit in just ten minutes. You double your initialinvestment. But if you are wrong and the price goes down to 1.31then you suddenly loose your entire investment. By just a 1-%change on the underlying you make a huge gain or a huge lost.Imagine that you are right on a long-term trade at 100:1leverage and the pair change in value 20% favorably to you. Ifyou traded $1,500 you would get around $30,000. This couldhappen in just one day, but at the same time if you are wrongand the market moves against you, you could loose your entireportfolio in 5 minutes. So you must be informed and you mustknow what you are doing if you want to make money on thismarket. High leverage and low initial funding requirement iswhat attracts many new and potential investors to Forex. 9) How can I start trading? Forex trading is still controlled byan inter-bank system. There are no broker fees to pay and nocommission. It is different to the stock market where you mustpay commissions to the brokerage firm for every order executed.At Forex there is just a slight difference between the tradingquote and the actual price of the currency. For example if youare trading the EUR/USD pair and the pair is trading at 1.3235you will get a quote at 1.3237. You see the differences. Thatsmall difference goes to the Forex Firm through which you aretrading. I personally believe that Forex encourage onlinetrading more than any other financial market. Many individualsare self-made traders and trade from home or business offices.You just open an account with a Firm like Oanda, Refcofx, GFT orany other. There are many out there. Just choose the one thatbest fits your needs and interests. After you fund your accountyou will be able to start trading. As you can see Forex is very interesting, profitable and at thesame time risky. So people make fortunes and others loose theirlife savings. Information is the key. I just briefly describedsome aspects of The Foreign Exchange Market on this article. If you want to learn more about the subject above visit thewebsite bellow, which is full of valuable information that canturn you into a very wealthy person – (courtesy of John Kaka).John has years of experience on subjects related to business,finance, wealth building, how to profit from e-books, the stockmarket, forex market, real estate, employment, true home basedbusiness opportunities, how to attract amazing wealth to yourlife, and everything related to money, business and finance. John Kaka © 2005. About the author:http://hop.clickbank.net/?aj345/waytrade Use this article as youplease, but leave its content intact and include this author’sresource box. – John.
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Rank Reports Profits Down Due to Investments in Marketing
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.online-casinos.com/news/news3110070.asp" style="font-size:1.2em">Rank Reports Profits Down Due to Investments in Marketing</a>
<br> <span style="color:#888888;">Online-Casinos.com</span> - <span style="white-space:nowrap">1 hour ago </span>
<div style="width:80%;">Despite a 10 percent rise in revenues in the first half of 2010, the UK land and gambling group Rank plc also reported this week a 23 percent decline in operating profit to GBP 2.3 million. (Great ...</div>
</div>
British Pound Volatility Ahead on Bank of England Rate Decision
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2010/07/30/fwf_073010_gbp.html" style="font-size:1.2em">British Pound Volatility Ahead on Bank of England Rate Decision</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">The British Pound may turn volatile in the week ahead as the Bank of England delivers the first rate decision based on an updated inflation outlook taking into account the government's austerity ...</div>
</div>
British Pound Spiked Up Further Against Majors
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.rttnews.com/Content/CurrencyMarket.aspx?Id=1377403&SM=1" style="font-size:1.2em">British Pound Spiked Up Further Against Majors</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">(RTTNews) - The British currency spiked up further against major opponents during New York mid-day trading on Friday. The pound climbed to more than 3-week high against the euro and a multi-month ...</div>
</div>
Euro slips back to $1.3015
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.13wham.com/business/story/Euro-slips-back-to-1-3015/ueFOlVd5Y0Ck2AXqtSbhmA.cspx" style="font-size:1.2em">Euro slips back to $1.3015</a>
<br> <span style="color:#888888;">13WHAM-TV</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">In this photo illustration a Euro note and a GBP note are displayed on April 17, 2008 in London, England. (Peter Macdiarmid, Getty Images) BERLIN (AP) ? The euro is a little lower against the ...</div>
</div>
Great British Pound (GBP) Technical Major Currencies (2010-07-30)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100730/great-british-pound-gbp-technical-major-currencies-2010-07-30.htm" style="font-size:1.2em">Great British Pound (GBP) Technical Major Currencies (2010-07-30)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">Despite of the pair moving within a bullish direction, signs of 1.5630 remaining intact are clearly appearing, where the harmonic bearish pattern has taken an AB=CD formation that has been ...</div>
</div>
Great British Pound vs. Japanese Yen (2010-07-30)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100730/great-british-pound-vs-japanese-yen-2010-07-30.htm" style="font-size:1.2em">Great British Pound vs. Japanese Yen (2010-07-30)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 30, 2010 </span>
<div style="width:80%;">The pair declined yesterday, but from a pure technical harmonic point of view, we can see on the daily chart a chance for resuming a suggested CD leg for AB=CD pattern. We have two technical ...</div>
</div>
British Pound Pressing against Resistance Line
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010-07-29-1627-British_Pound_Pressing_against_Resistance.html" style="font-size:1.2em">British Pound Pressing against Resistance Line</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">The GBPUSD looks vulnerable but it is difficult to short without a point of reference to place a stop. It is best to wait for a top to form and then short a bounce. The GBPUSD rally has exceeded ...</div>
</div>
British Pound Turnaround May Be on the Horizon
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.dailyfx.com/forex/technical/ssi/gbp-usd/2010-07-29-1522-British_Pound_Turnaround_May_Be.html" style="font-size:1.2em">British Pound Turnaround May Be on the Horizon</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">GBPUSD - The ratio of long to short positions in the GBPUSD stands at -1.76 as nearly 64% of traders are short. Yesterday, the ratio was at -1.74 as 63% of open positions were short. In detail ...</div>
</div>
Forex spread betting: GBP in focus
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.spread-betting.me/spread-betting-forex-00402.html" style="font-size:1.2em">Forex spread betting: GBP in focus</a>
<br> <span style="color:#888888;">Spread Betting for Me</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">A roundup of technical insight and views from the forex spread betting and forex trading industry. Those looking at spread betting the British Pound should note that the Pound has declined ...</div>
<a href="http://www.economy-news.co.uk/exchange-rates-29201007-2.html">Exchange rates: British Pound in moderate declines</a> - <span style="color:#888888">Economy News</span><br>
</div>
Great British Pound (GBP) Technical Major Currencies (2010-07-29)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://uk.ibtimes.com/articles/20100729/great-british-pound-gbp-technical-major-currencies-2010-07-29.htm" style="font-size:1.2em">Great British Pound (GBP) Technical Major Currencies (2010-07-29)</a>
<br> <span style="color:#888888;">IBTimes</span> - <span style="white-space:nowrap">Jul 29, 2010 </span>
<div style="width:80%;">The pair continues the bullish trend within the bullish channel shown above, as the pair is closely nearing key resistance for the main ascending channel, accompanied by overbought signs through ...</div>
</div>
Is the simultaneous purchase or sale of one currency against the purchase or sale of another.
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