Welcome to the wonderful world of Forex Trading!
Posted by Steven Smith on 10/7/07 in Forex Trading
The “Forex†is not only the easiest market to learn but the easiest to learn to trade in the world. Any person in any country who has enough education and resources to have a computer…or even to have access to a computer…equipped with Internet access can trade in this market and any person can become successful at it with very small investment and very small risk.
The “Forex†measures the relative value of pairs of world currencies against each other and “Forex†traders make their money by speculating upon the changes of value of these currencies on a minute-by-minute basis and the market is open 24 hours a day, 6 days a week, 52 weeks a year! It is a very exciting thing and it is something new on the world economic scene and something that could have a wonderfully positive impact upon people world-wide!
“Forex†stands for the “Foreign Exchange Market,†the first truly international market in world history, a completely electronic market, a market so huge that it currently processes $3.2 Trillion dollars worth of business every day, a total perhaps 15 times the size of the volume of business generated by all the other markets in the world put together and a market that offers common people like you and me an opportunity to legally take a very small amount of money and build it into a very large amount of money in a relatively short time on equal terms with the world’s largest banks and financial institutions!
How much is One Trillion Dollars? Well, if you opened a business on the day the baby Jesus was born over 2,000 years ago and were such a lousy business person that you proceeded to lose One Million Dollars a day every day seven days a week thereafter from that day to this, you would still have to go on losing One Million Dollars a day every day seven days a week for approximately the next 270 years before you exhausted your One Trillion Dollars! And our market does 3.2 times that amount of money in transactions every single day! That, my friends, is a lot of money! And well it should be, because it represents the spot cash transactions of every single country in the world!
And our goal is to make some of that money for ourselves! And it can be done!
You can open a Forex account with a broker in most countries for as little as $200 - $300 USD and you can trade in very small amounts until you feel that you are ready to trade on a more significant level. You do not have to be rich to learn to trade in the Forex Market! Indeed, you do not need ANY money at all! Almost every broker I am aware of has what are called electronic “Demonstration Accounts†(“Demo Accountsâ€) which are identical in every way to real trading accounts…except they work with “play money,†electronic credits that cannot, of course, be turned into real money. But they do give you the opportunity to learn your business without the investment of one single penny of your own money! Absolutely no investment is required whatsoever! You do not need to pay for access to these accounts, you do not need to pay for real-time electronic data! You don’t need to pay for anything! All you need is a computer and Internet access and you are prepared to start learning an economic skill that can finally get you off the treadmill of “just enough†or “slightly less than enough†income that an enormous number of people – even in the world’s most prosperous countries – tread upon their entire lives!
It could be the opportunity of a lifetime and I urge every person who has ever thought of trying their hand at economic speculation or even who has never thought of it to take some time to learn about this market and if it intrigues you as much as it does me and a growing number of people world-wide to see if possibly you have what it takes to be a successful speculator. It could be a life-changing and enriching experience!
Having said all that, it must be understood that successful trading in any market, including the Forex market, is not an easy thing to do. Not because it is intrinsically difficult. The techniques and skills are actually quite easy to learn. It is difficult because it requires us to cultivate three character traits that are in very short supply in people world-wide and these are COURAGE, DISCIPLINE and PATIENCE. Without possessing and exercising all three of these virtues, it is not possible to trade successfully in any market. Unbelievable as it may sound, trading is truly a spiritual discipline!
In future articles, I will try to give you a basic introduction to this market and how to trade it and tell you where you can get further valuable information on the Internet, most of it for absolutely free.
Welcome to the wonderful world of Forex trading!

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Carol | Oct 23, 2007 | Reply
what you have posted is really 100% correct, The forex markets are a true electronic or over-the-counter exchange. There is no physical or central forex exchange location. The forex market is comprised of a global network of banks, corporations and individuals who are buying and selling currencies 24 hours a day, except on weekends.
Forex trading follows the sun around the globe. The most active exchange centers are in Tokyo, Singapore, London and New York. When Asian trading session ends the European session begins and when the European session ends the North American session begins and so on.