Thursday, November 29, 2007

You may ask this Questions??!-(3)

Is it too difficult?
Trading Forex is so easy, anyone can do it. You don't need to watch bloomberg TV every morning or to buy every financial newspaper to determinate the trend. The Forex Market is highly predictable.

When does forex trading occur?
The first session, the Tokyo Session, begins each week on Monday morning in the Asia-Pacific region (Sunday evening in the Americas). Trading continues non-stop, moving into the London Session and on to the New York Session until all markets close on Friday afternoon.

What are the primary currencies traded in forex?
For most online brokers, there are four main currency pairs that are heavily traded and that offer immediate liquidity most of the time:
Euro / US Dollar
US Dollar / Japanese Yen
British Pound / US Dollar
US Dollar / Swiss Franc

How often does a person have to trade?
The beauty of self-trading forex is that you can trade as occasionally or as often as you wish. You might rely on longer-term strategies that may require checking the market as little as once or twice a week. Or, you might trade shorter-term methods that may require that you watch the market for a few hours a day.

How much money does it take to open a real money trading account?
If you're a new student of forex, you should first practice with a free practice account, often called "demo trading," using "pretend" money. When you feel ready to trade with real money, you can open a "mini" account with as little $300 USD, although we recommend starting with no less than $1000-$2000.

Who participates in the FX market?
Central, commercial and investment banks have traditionally dominated the Forex market. Other market participation is rapidly increasing, and now includes international money managers and brokers, multinational corporations, registered dealers, options and futures traders, and private investors.

When is the FX market open for trading?
Forex is a true global 24-hour marketplace. The trading day begins in Sydney, and moves around the globe as each financial center comes to life. Tokyo follows, then London, and finally New York. Investors can respond in real time to any fluctuations caused by current economic, social and political events.

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