Is there anybody who could tell me about the forex markets? Please have a look at details, Thanks.?

Question

I would highly appreciate feedback from those are experienced in this field and have been making their living out of it.
Take Care.

Answer 1

The foreign exchange markets are always in a constant state of flux, and for the budding trader, it can be a rather daunting place to invest and trade your money. We bring you into the world of foreign exchange trading. As you look into the prospect of forex trading you will begin to understand the width and breadth of the forex market. It is a worldwide market trading currencies 24 hours a day 7 days a week (Well actually, markets are actually open for about 5.5days a week actively trading). As a consequence of this huge market, the market is highly liquid and high volume takes place daily. As the market in constant flux there are plenty of opportunities for forex trading.

Forex trading takes advantage of the constant flux of the market, buying and selling into and out of the ebbs and flows of the foreign exchange trading charts. Many profitable trades await the trader in these markets. So as you examine your charts as a forex trader you will find that the market display’s repetitive behaviour as well as trends. Trends can go in three ways; an up trend, down trend and a sideways trend. As a trader you take advantage of price differences so you ought to stay away from sideways trending forex markets while jumping at every chance at up trending (long) markets or down trending (short) markets.

This article i copied and pasted from the source at the bottom. They have a fair amount of forex resources! good for beginners and novices!

Answer 2

The forex is a very dangerous place for a novice to consider betting money. I referred to it as that rather than investing because your basically betting on whether currency prices will go up or down.

It is extremely volatile and not for the casual investor, You will be eaten you alive if you don't know what your are doing.

The foreign-exchange ("forex" or "FX") market is the place where currencies are traded. The forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day.

There is no central marketplace for currency exchange, rather, trade is conducted over-the-counter. The forex market is open 24 hours a day, five days a week, with currencies being traded worldwide among the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - spanning most time zones.

Answer 3

It is true that day trading in the forex is dangerous and most fail. Thats why I follow a hedged forex strategy. I can't give out the returns because past results don't predict future results but the investors that are following this strategy are making incredible returns and its pretty safe since its hedged. They are actually going to hedge the hedge this fall. This company is brilliant. The online brokers like this strategy so they offer us 400:1 leverage. So every dollar you put in you make interest on 400. Watch the video on the site below. The site is really cheesy but will give you some info on how it works. www.freedomrocks.com/freedemo. Then go to this site www.demofreedomrocks.com for more info. Open a practice account and try it out for a while you will see you can pretty easily get double digit returns a month.

Answer 4

As attractive as the brokers in FX like to make it look, never doubt for a second that 95% of the people that "try it" loose most of their account in short order.

First rule;
Understand that all the brokers are bad. Your job is to find the broker that's the least worst based on your needs.

2nd rule;
Understand there is no black box, special software or technique that "really works".

3rd rule;
If you find an "alert service" that shows decent returns it's either;
Total bull
or
Impossible for you to duplicate in the real world (I lost big money with an "honest" alert service. The "drawdowns" were beyond anything I could live with.

Most successful traders use technical and fundemental techniques. Most have their own "fomula" that works for them (only).

Build your own system. Take your time. Beaware of the three biggest enemies;
Greed
Fear
Indeceision

Good luck!

Answer 5

An easy way to start looking at the Forex market is to take a look at the new currency ETFs that make it very easy to get started in currency trading. Here is a link:

http://top10traders.com/ViewPost.aspx?postID=753