The Forex is a foreign exchange market for money. This is where everyone trades on currency, buying one that they think will rise and selling another that they think will fall.
The Forex market is used to trade currencies of various countries. The currencies of the world are put up against each other with the gamble that one will in fact do better than the other.
Currencies are constantly fluctuating throughout the market as international currencies are no longer held to the gold standard. Even a small change in value of currency can create a profit or loss.
More than $1.5 trillion dollars are traded each day in the Forex market. That is more than one hundred million times that of the New York Stock Exchange, which is one of the biggest in the world. The Forex is truly the mother of all speculation markets. Only five percent of the trades are done to change currency for travel or business.
There is no building where buyers and sellers meet for the Forex market. There are no brokers hanging around. The Forex market is a virtual market and all of the trading takes place over the phone or online.
The Forex trading day lasts for six days straight. It begins in Sydney, moves to Tokyo and on to Frankfurt, London and then New York before going back to Sydney. It closes in New York on Friday night. During the week, at any time of the day or night, someone is trading on the Forex market.
Long trading hours give investors plenty of time in which to speculate on what is going on in different currencies in other nations. When a country announces any economic growth or decline, this reflects in the trading in the market. - 16003
The Forex market is used to trade currencies of various countries. The currencies of the world are put up against each other with the gamble that one will in fact do better than the other.
Currencies are constantly fluctuating throughout the market as international currencies are no longer held to the gold standard. Even a small change in value of currency can create a profit or loss.
More than $1.5 trillion dollars are traded each day in the Forex market. That is more than one hundred million times that of the New York Stock Exchange, which is one of the biggest in the world. The Forex is truly the mother of all speculation markets. Only five percent of the trades are done to change currency for travel or business.
There is no building where buyers and sellers meet for the Forex market. There are no brokers hanging around. The Forex market is a virtual market and all of the trading takes place over the phone or online.
The Forex trading day lasts for six days straight. It begins in Sydney, moves to Tokyo and on to Frankfurt, London and then New York before going back to Sydney. It closes in New York on Friday night. During the week, at any time of the day or night, someone is trading on the Forex market.
Long trading hours give investors plenty of time in which to speculate on what is going on in different currencies in other nations. When a country announces any economic growth or decline, this reflects in the trading in the market. - 16003
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