Forex trading course – tips & advice
What is Forex trading?
Forex stands for Foreign Exchange. Forex traders try to take advantage of small price changes in currencies. Yet you can trade on Forex with only a small capital.
The forex market is completely virtual. There is no forex exchange building where 23-year-olds scream for Dollars or Euros to sell. Everything isÂ digitalized and decentralized, without a central supervisor. Moreover, the forex market is open 24 hours a day, five days a week. This means that anyone at any time can trade on Forex from his comforable chair. International currency trading is mainly driven by banks, followed by multinationals and governments. But in recent years, more and more individuals have started Forex trading.
How do you earn money with Forex trading?
The value of currencies is constantly changing, both in relation to the past as compared to other currencies. Thus the value (purchasing power) of 1 U.S. Dollar in 2011 differs from the value of that same dollar in 1985. Also, the value of that U.S. Dollar compared to the Euro has changed last years considerably. The value of one currency against another valuta’s is crucial for Forex trading, because currencies are always traded in pairs. For example the pair EUR / USD.
The change in value of currency pairs is completely random. It is caused by fundamental developments in the economy and by the reaction of investors thereon. The nice thing is: Both are (to some extent) predictable. If you are better than others in the prediction of these developments, you can make money with Forex trading.
This Forex trading course is meant for beginners. You will find tools to predict the foreign exchange and will help you develop a strategy that matches your own personality and your growing trading capital. In short, it will give you all you need to develop yourself into a successful Forex trader.