Forex trading involves the simultaneous exchange between two currencies. Shares are bought and sold in order to make profits. The Forex market is not actually found in any physical place, instead is a network of banks and individuals all involved in the process of changing currency. Because of this, the Forex market is open 24 hours a day, following the three main markets, the United States of America, Europe, and Asia. The main currencies found in the Forex market are: EUR = Euro GBP = British Pound (Sterling, Cable) JPY = Japanese Yen CHF = Swiss Franc (Swissie) USD = United States Dollar NZD = New Zealand Dollar (Kiwi) AUD = Australian Dollar (Aussie) CAD = Canadian Dollar Forex trading is different from traditional stock trading as you trade on a margin, rather then the full sum of the contract at hand. With regular stocks, you must deposit the full amount of the shares. With Forex trading, a 1% margin is used, meaning you one have to pay 1% of the total amount of the contract. For example, if the contract price is 100,000 dollars, you are only required to place 1,000 into the account. The margin paid is more of an insurance policy just in case the trade goes bad. Successful Forex traders must learn the ins and outs of Forex trading before becoming successful. This often takes years of risking their money and time. In fact, new investors that try to trade on the market alone have a 95% failure rate. If you are new to Forex trading, you may have found that learning the basics needed to succeed may be a daunting task. The only real way to learn is to place yourself, and you money on the line as you learn the basics of the Forex trading system. This truly makes learning this new system a practice makes perfect situation. However, Statistics show that 95% percent of new investors who attempt to trade on the Forex market fail, meaning that you are potentially risking large amounts of money. Another option is hiring a Forex trading professional to do the work for you. This will take some of the pressure off of you. The only flaw with this option is you are still placing large amounts of money into the market through a human. While a professional would have the knowledge to rely more on statistics and numbers, they are still human, and human emotion can alter the way trades are completed. The only sure way a new investor can trade efficiently is by using a trading program. Trading programs not only rely on information rather then emotion, they have the potential to do all the work for you, eliminating the need for hours of studying to learn the basics of the Forex system. FreedomRocks is an online trading system that does just that. Once you account is setup, you define the preset limits and instructions, and then sit back and watch the program do the work for you. At the end of the day you have a potential of making large amounts of money, without the risk of doing it yourself. One alternative to going through the process of learning the system is using an online trading system such as FreedomRocks. FreedomRocks allows you to set the preferences you want, and will literally do the work for you. All you have to do is sit back and watch the profits build.
Frequently Asked Questions
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QUESTION:
Hi guys, please can you advice on how to get a forex trading job in the US?
I know it's not a great time to search for jobs in the US but I think it's better to be prepared for the coming good years. Will it be easy for someone with 4+years fx trading experience to get a trading job in the US?-
ANSWER:
If you are talking about having been a trader for a major bank's currency desk, then it wouldn't hurt to send you resume around.If, by "experience" you mean trading fx on your own on the internet, nobody is going to hire you based on that.
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QUESTION:
What is an entry-level finance job for a liberal arts college graduate?
I hold a B.A. in the liberal arts and have no job experience in finance. I do however, spend a lot of time trading and researching with my equities and forex accounts. What entry-level finance jobs are out there for college graduates with a background outside of finance and accounting?-
ANSWER:
With out basic qualification in finance you can not get any job,except as a clerk or office assistant.You can try to get as a trainee in insurance company,assistant to stock broker etc.
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QUESTION:
What is the best forex robot available and do you recommend?
Im very interested in getting a Forex robot to trade for me. I have heard great things about forex robots, But I am not sure which forex robot works the best. Im a new to forex completely and Im just looking for an automated way to make money from home. Would you even recommend trading with a forex robot at this current economic time? How much many can make with a forex robot and what is the best forex robot from your personal experience. Please help. Thanks-
ANSWER:
I have a Forex robot from http://forexautoprofitbot.com
It makes me lots of money on autopilot and it about doubles my money every month. To be honest I know nothing about the forex market. All I do is make lots of money from the forex robot. It is easy to set up. And it runs 24/7 whether your computer is on or off. In fact I quite my dayjob because I was starting to make more than I made at my job and I am still making more. Trust me this forex robot is the best available and no matter what the economic times are the robot will make you money. I strongly recommend.
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QUESTION:
Which is the best way to become a millionaire on the stock/forex markets; speculating or investing?
Just curious as to which option is the best option if you want to become a millionaire on the stock/forex markets out of speculating or investing? Also, which is the best recommended and what are the advantages/disadvantages to each of them?-
ANSWER:
Investing requires thoughtful study and the use of analytical techniques proven to enable one to track corporate progress. The uninformed tend to view stock investments as speculative but the stock investor will usually call currency markets a potential win-or-lose-it-all proposition.You wouldn't believe the long hours an investor puts into his/her work. Credibility is on the line at all times for retail investors rely upon us for secure, meaningful information before making their investments in our recommendations.
Investments rarely lose all money invested in a day or a week. This isn't the case alternatively in the case of currency trading. A successful investor must be vitally aware of and able to summon up balance sheet stats on each portfolio investment. Working at this is a full time job and then some, it's not just calling the broker and placing your order. Still, it's the greatest woork in the world for me and anyone who happens to enjoy geopolitical drama and has a penchant for detail.
Some might argue that this isn't about safety but only about making million. When luck is the premise, anything can happen. But you also ask about which is "the best way" and I'll have to vote for investing as it can eventually lead towards big earnings. I've won some major gains, also have lost my share. But I know from experience a diligent investor with basic skills and lots of hard work can do it.
Len
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QUESTION:
Day Trading Forex possible to make a living?
Hey,Are there people in the world who day trade forex for a living? I've read so many articles bashing day trading as gambling and impossible to make money, but I also read some forex trader interview who just trade a few hours a day and make a good living. Is it true?
Anyone has experience?-
ANSWER:
I trade FX as well as stocks and I used to be a professional trader.Succesful trading really has to do with emotional control and dscipline because its based on odds. The odds are usually not higher than 55:45 in your favor so expect to lose fairly often. It is extremely nerve wracking and it takes lots of money you can AFFORD to lose to do succesfully as a professional. Most likely at least 25K. It also takes years to learn and often with huge losses. You make the big money in usually only 20% of the time, the rest try not to get torn up in the markets. Its a good job for adrenaline junkies but its not for everyone.
Yes people say 90% of people fail to make it, however so do 90% of doctors and lawyers. Its about how much you want it and how hard you wanna work at it. But it most definitely IS possible.
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Source: http://tradinggold.net/?p=35489
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