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"how To" Start Trading The Forex Market?
By Martin Maier, Thu Dec 8th
What Is FOREX or FOREX MARKET? PART I The Foreign Exchange market (also referred to as the Forex or FXmarket) is the largest financial market in the world, with over$1.5 trillion changing hands every day. That is larger than all US equity and Treasury markets combined!
Unlike other financial markets that operate at a centralizedlocation (i.e. stock exchange), the worldwide Forex market hasno central location. It is a global electronic network of banks,financial institutions and individual traders, all involved inthe buying and selling of national currencies. Another majorfeature of the Forex market is that it operates 24 hours a day,corresponding to the opening and closing of financial centers incountries all across the world, starting each day in Sydney,then Tokyo, London and New York. At any time, in any location,there are buyers and sellers, making the Forex market the mostliquid market in the world. Traditionally, access to the Forex market has been madeavailable only to banks and other large financial institutions.With advances in technology over the years, however, the Forexmarket is now available to everybody, from banks to moneymanagers to individual traders trading retail accounts. The timeto get involved in this exciting, global market has never beenbetter than now. Open an account and become an active player inthe largest market on the planet. The Forex Market is very different than trading currencies onthe futures market, and a lot easier, than trading stocks orcommodities. Whether you are aware of it or not, you already play a role inthe Forex market. The simple fact that you have money in yourpocket makes you an investor in currency, particularly in the USDollar. By holding US Dollars, you have elected not to hold thecurrencies of other nations. Your purchases of stocks, bonds orother investments, along with money deposited in your bankaccount, represent investments that rely heavily on theintegrity of the value of their denominated šthe USDollar. Due to the changing value of the US Dollar and theresulting fluctuations in exchange rates, your investments maychange
Canadian Dollar Climbs To 8-week High Against Greenback
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1414041" style="font-size:1.2em">Canadian Dollar Climbs To 8-week High Against Greenback</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">7 hours ago </span>
<div style="width:80%;">Crude oil for October delivery is currently trading at $75.72 per barrel on the New York Mercantile Exchange, up $1.05 from its previous close. Prices reached as high as $75.88 a barrel in the ...</div>
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Forex: USD/CAD decline extends to 1.0300, 3-week low
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=c15ed965-303d-4bca-b228-8072580097cb" style="font-size:1.2em">Forex: USD/CAD decline extends to 1.0300, 3-week low</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">7 hours ago </span>
<div style="width:80%;">FXstreet.com (Barcelona) - The Canadian Dollar advances at a strong pace on signs of economic recovery and USD/CAD decline from yesterday's high at 1.0509 has extended below 1.0340/45 support area ...</div>
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Canadian Dollar and Financial Outlook
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<a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=4483947" style="font-size:1.2em">Canadian Dollar and Financial Outlook</a>
<br> <span style="color:#888888;">istockAnalyst.com</span> - <span style="white-space:nowrap">8 hours ago </span>
<div style="width:80%;">Winnipeg, Sep. 9, 2010 (Resource News International) -- The Canadian dollar was trading stronger early Thursday - reaching three week highs - one day after the Bank of Canada pushed interest rates ...</div>
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Canadian Dollar May Appreciate Against USD
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<a href="http://www.dailyfx.com/forex/technical/ssi/usd-cad/2010/09/09/ssi_usd-cad.html" style="font-size:1.2em">Canadian Dollar May Appreciate Against USD</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">USDCAD ? The ratio of long to short positions in the USDCAD stands at 1.78 as nearly 64% of traders are long. Yesterday, the ratio was at 1.86 as 65% of open positions were long. In detail, long ...</div>
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CAD/CHF Forming Possible Head and Shoulders
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<a href="http://www.dailyforex.com/forex-technical-analysis/2010/09/CAD-CHF-Forming-Possible-Head-and-Shoulders/5904" style="font-size:1.2em">CAD/CHF Forming Possible Head and Shoulders</a>
<br> <span style="color:#888888;">DailyForex</span> - <span style="white-space:nowrap">14 hours ago </span>
<div style="width:80%;">On Wednesday, the Bank of Canada boosted its interest rates to 1 percent from 0.75 percent, making it a third increase in a span of four month. In response, the Canadian Dollar rallied strongly ...</div>
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Canadian Dollar Gains On BOC's Hawkish Comment
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<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=121953:canadian-dollar-gains-on-bocs-hawkish-comment-&catid=193:daily-forex-fundamentals" style="font-size:1.2em">Canadian Dollar Gains On BOC's Hawkish Comment</a>
<br> <span style="color:#888888;">Action Forex</span> - <span style="white-space:nowrap">19 hours ago </span>
<div style="width:80%;">The dollar traded mostly lower on Wednesday as European bank worries eased following a successful Portuguese debt auction. The Federal Reserve's Beige book indicated the pace of US economic growth ...</div>
<a href="http://www.ibtimes.com/articles/60844/20100909/fx-strategy-briefing-canadian-dollar-gains-on-bochawkish-comment.htm">FX Strategy Briefing: Canadian Dollar Gains on BOC&#039;s Hawkish Comment</a> - <span style="color:#888888">International Business Times</span><br>
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PNC Bank Changes Canadian Dollar Prime Rate
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<a href="http://www.newswire.ca/en/releases/archive/September2010/08/c8189.html" style="font-size:1.2em">PNC Bank Changes Canadian Dollar Prime Rate</a>
<br> <span style="color:#888888;">Canada NewsWire</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">TORONTO, Sept. 8 /CNW/ -- PNC Bank Canada Branch announced an increase in its Canadian Dollar prime lending rate. The new rate of 3.00 percent is effective Sept. 9, 2010. PNC Bank Canada Branch is ...</div>
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| EXCHANGE RATE
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<a href="http://www.dailynews.lk/2010/09/09/ExchangeRate.asp" style="font-size:1.2em">| EXCHANGE RATE</a>
<br> <span style="color:#888888;">Ceylon Daily News</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">Exchange Rates on 08.09.2010 The average rates of the following currencies quoted by commercial banks in Colombo for Telegraphic Transfers (TT) at 9.30 am are as follows: Currency Buying Rate ...</div>
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Canadian Dollar Testing Fibonacci Level
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<a href="http://www.dailyfx.com/forex/technical/elliott_wave/usd-cad/2010/09/09/eliottWaves_usd-cad_1.html" style="font-size:1.2em">Canadian Dollar Testing Fibonacci Level</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">The USDCAD continues to respect its summer range. The June, July, and August highs all occurred within several pips of 10680. A close look at the USDCAD rally from 10105 reveals that the advance ...</div>
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Canadian Dollar Steady Ahead Of August Ivey PMI Report
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1412636" style="font-size:1.2em">Canadian Dollar Steady Ahead Of August Ivey PMI Report</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">(RTTNews) - The Purchasing Management Association of Canada and the Richard Ivey School of Business will release the Purchasing Managers Index for August at 10:00 am ET. The headline figure is ...</div>
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in value, affecting your overall financial status. Withthis in mind, it should be no surprise that many investors havetaken advantage of the fluctuation in Exchange Rates, using thevolatility of the Foreign Exchange market as a way to increasetheir capital. Example: suppose you had $1000 and bought Euros when theexchange rate was 1.50 Euros to the dollar. You would then have1500 Euros. If the value of Euros against the US dollarincreased then you would sell (exchange) your Euros for dollarsand have more dollars than you started with. Example: You might see the following: EUR/USD last trade 1.5000 means One Euro is worth $1.50 USdollars. The first (in this example, the EURO) is referred to asthe base and the second (/USD) as the counter or quotecurrency. The FOREX plays a vital role in the world economy and there willalways be a tremendous need for the exchange of currencies.International trade increases as technology and communicationincreases. As long as there is international trade, there willbe a FOREX market. The FX market has to exist so a country likeGermany can sell products in the United States and be able toreceive Euros in exchange for US Dollar. RISK WARNING: Risks of trading Margined trading is an extremely risky form ofinvestment and is only suitable for individuals and institutionscapable of handling the potential losses it entails. An accountwith an broker allows you to trade foreign currencies on ahighly leveraged basis (up to about 400 times your accountequity).The funds in an account that is trading at maximumleverage may be completely lost if the position(s) held in theaccount experiences even a one percent swing in value. Given thepossibility of losing one's entire investment, speculation inthe foreign exchange market should only be conducted with riskcapital funds that, if lost, will not significantly affect theinvestors financial well-being. About the author:Veteran Trader Martin Maier is the Founder ofhttp://www.fenixcapitalmanagement.com He is the developer ofvarious futures and commodities trading programs and his systemshave been ranked and rated by various large American InvestmentProfile Rating Companies such as STAR and MAR.
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Forex - British Pound Vulnerable As Risk Appetite Wanes on European Banking Concerns
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<a href="http://www.forextv.com/forex-news-story/forex-british-pound-vulnerable-as-risk-appetite-wanes-on-european-banking-concerns" style="font-size:1.2em">Forex - British Pound Vulnerable As Risk Appetite Wanes on European Banking Concerns</a>
<br> <span style="color:#888888;">ForexTV.com</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">The GBP/USD recovered a majority of its earlier losses after a better than expected US initial jobless claims report added to prevailing optimism. Double dip recession concerns for the world's ...</div>
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Exchange Rates
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<a href="http://www.onenewspage.com/news/Business/20100909/14878149/Exchange-Rates.htm" style="font-size:1.2em">Exchange Rates</a>
<br> <span style="color:#888888;">One News Page</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">ForexFlashNews Exchange rates: British Pound nipped by trade data: Foreign exchange markets guided by concerns over the strength ... http://bit.ly/cDC4ls 2 hours ago ForexFlashNews Exchange rates ...</div>
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British Pound Still Bearish
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<a href="http://www.dailyfx.com/forex/technical/elliott_wave/gbp-usd/2010/09/09/eliottWaves_gbp-usd.html" style="font-size:1.2em">British Pound Still Bearish</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">8 hours ago </span>
<div style="width:80%;">The GBPUSD has found support and has exceeded trendline resistance. What's more, the rally from the low is an impulse (5 waves). The risk is that the rally could have completed an expanded flat ...</div>
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Exchange rates: British Pound decline resumes
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<a href="http://www.economy-news.co.uk/pound-exchange-rates-09201009.html" style="font-size:1.2em">Exchange rates: British Pound decline resumes</a>
<br> <span style="color:#888888;">Economy News</span> - <span style="white-space:nowrap">8 hours ago </span>
<div style="width:80%;">"The Pound fell 0.8% against the Euro this morning, while the UK currency also lost ground versus the majority of the 16 most actively traded currencies, after the Bank of England kept interest ...</div>
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British Pound Bias Calls for Weakness
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<a href="http://www.dailyfx.com/forex/technical/ssi/gbp-usd/2010/09/09/ssi_gbp-usd.html" style="font-size:1.2em">British Pound Bias Calls for Weakness</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">GBPUSD ?The ratio of long to short positions in the GBPUSD stands at 1.22 as nearly 55% of traders are long. Yesterday, the ratio was at 1.03 as 51% of open positions were long. In detail, long ...</div>
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Forex Sentiment Shift Points to EURUSD, GBPUSD Losses
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<a href="http://www.dailyfx.com/forex/technical/ssi/table/2010/09/09/ssi_table_story.html" style="font-size:1.2em">Forex Sentiment Shift Points to EURUSD, GBPUSD Losses</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">Choppy US Dollar price action has made for similarly indecisive moves in forex crowd sentiment, but the most recent move towards USD shorts against the British Pound and Euro leaves us modestly ...</div>
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Option Traders Betting on Agriculture and the British Pound
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<a href="http://www.bloggingstocks.com/2010/09/09/option-traders-betting-on-agriculture-and-the-british-pound/" style="font-size:1.2em">Option Traders Betting on Agriculture and the British Pound</a>
<br> <span style="color:#888888;">BloggingStocks</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">Option traders appear to be setting up for a bullish move on Market Vectors Agribusiness ETF (MOO). Traders plowed into 2,601 new call option contracts -- 20.81 times the average volume -- on the ...</div>
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British Pound Holds Range as BoE Maintains Current Policy
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<a href="http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/us_open/2010/09/09/09-09-10.html" style="font-size:1.2em">British Pound Holds Range as BoE Maintains Current Policy</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">10 hours ago </span>
<div style="width:80%;">The British Pound showed little reaction to the Bank of England interest rate decision as the MPC held the benchmark interest rate at 0.50% and maintained its asset purchase target at GBP 200B ...</div>
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Exchange rates: British Pound nipped by trade data
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<a href="http://www.economy-news.co.uk/exchange-rates-09201009.html" style="font-size:1.2em">Exchange rates: British Pound nipped by trade data</a>
<br> <span style="color:#888888;">Economy News</span> - <span style="white-space:nowrap">13 hours ago </span>
<div style="width:80%;">Foreign exchange markets guided by concerns over the strength of the Eurozone, meanwhile the British Pound reacts to the latest UK trade data. The Pound Dollar exchange rate is 0.446% lower on the ...</div>
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Great British Pound vs. Japanese Yen (2010-09-09)
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<a href="http://www.ibtimes.com/articles/60819/20100909/great-british-pound-vs-japanese-yen-2010-09-09.htm" style="font-size:1.2em">Great British Pound vs. Japanese Yen (2010-09-09)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">16 hours ago </span>
<div style="width:80%;">We will make it very simple today as we witnessed a sharp incline yesterday affected by the bullish harmonic AB=CD pattern of the four hour interval that was discussed in details in yesterday's ...</div>
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Simultaneously buying one currency and selling another.
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