Introduction to Forex Trading





Introduction to Forex Trading Video. Learn how to trade the Forex. MTI students are taught to take advantage of the Forex Market so the Forex Market doesn't take advantage of them.
Learn to Trade The Forex Today



Get Started Learning to Trade The Forex Today



Intro to Forex Trading
The forex market is the largest and most liquid financial market in the world. The daily dollar volume of currencies traded in the currency market exceeds $1.9 trillion, many times larger than the combined volume of all U.S. equities and futures markets. While forex trading used to be executed exclusively between government central banks and commercial and investment banks, trading forex has become increasingly accessible to private investors thanks to the PC and internet.

The most commonly traded currencies are the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. The FX market runs 24-hour hours a day, 5 days a week with continuous access to global dealers. Trading is not centralized on a physical location or an exchange, as with the stock and futures markets. Foreign Exchange is the simultaneous buying of one currency and selling of another.

Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY). For example, you would execute a trade when you expect the currency you are buying to increase relative to the one you are selling. If the currency you are buying increases in value, you must sell the other currency to close the position and take a profit. The first currency in the pair is called the base currency and the second is called the counter or quote currency. Usually the US currency is the base currency and quotes are given in $1 USD per counter currency, e.g. USD/JPY. The exceptions are the British Pound, the Euro and the Australian Dollar.

I know that FOREX is no myth 'cos I've read a thriller novel ...about some business men who hired a foreign exchange trader from the comfort of her trading floor (like the stock exchange floor) to do some insider 'forex' trading for them, with the help of an informant who worked directly in the government and in the process, made huge returns. They continued this illegal form of trading until they were fished out and arrested.

So u see, it really is a genuine form of investment... It involves paying keen attention to even the slightest movements of the currencies in which you are trading, maybe that's why am not so interested in it (I hate figures)

The only problem is... 'WE' Nigerians have succeeded in bastardizing the system.