The foreign exchange or the forex market is accepted as the most active and liquid financial markets in the world. 2 trillion with over half of this being transacted in HY Investment’s home market of London. The spot forex market is an over-the-counter market is everyone working on forex profitably which pleases is different from exchange-traded products because it has no physical location or central exchange.
Foreign exchange trading takes place in the world major financial trading centers with the main centers being London, New York and Tokyo. Trading hours are rarely restricted and prices are typically available in the major currency pairs almost without interruption during the working week. This liquidity and frequent volatility makes the trading of currencies an attractive investment opportunity for the experienced market participant. Liquidity – With over one trillion US dollars traded daily in the Forex market and with millions of participants and transactions daily, there is always the opportunity to enter and exit the market at transparent pricing. 24 hrs trading – The market operates around the clock, from the Sydney market on Monday morning to the close of the US market on Friday creating a 24 hrs market. One of the biggest advantages of trading forex is the opportunity to trade 24 hrs a day.
This enables traders to react and take advantage of market movements at all times. Predictable market – The Forex market follows frequently repeated trends. Currency markets exhibit certain regularities, creating price trends for market participants to follow. These price trends increase the chances of trading profitably. Profit from all market movements – With forex, the market is continuously moving, so there are always trading opportunities, whether a currency is strengthening or weakening in relation to another currency.
Thus, a trader has the ability to profit on both short and long trading strategies. It is possible to lose more than the amount deposited. These products may not be suitable for everyone. Its been a long time since I started hearing about FOREX trading in Nigeria and have even come in contact with countless numbers of traders most of who have nothing to show for it. Forex trading is real, i must tell you. The problem is not in trading it self, though it is highly technical, but in the self proclaimed forex guru’s. All you need is the right form of training, and the necessary resources.
You actually get better with each trading day. This is just the fact that most of the traders are ignorant of, thereby causing themselves serious financial harm. I am here to tell you in a nut shell the simple truth about forex trading. It is real and very very profitable and also very very very v, e, r, r, y risky.
Forex trading is not different from what we see in the bereau de change where they buy dollars to sell pounds or sell eur to bur pound or dollars but in the case of automated forex trading, we see these trades take place in mutes or hours and even days and months depending on the way you want to trade. If you hate reading and constant self improvement, forex is not for you. If you are greedy, simple forget about forex trading. I can continue to list many factors that affect forex trading business in Nigeria and the number factor is that many people trading forex in Nigeria are poor or jobless and this is not good for forex trading because if you are not careful, you may lose so much that you may need to fund your account to continue traing and that is where the other financial source comes in. But this is no big deal because you are supposed to demo trade for as long as you are sure you can trade real money so no fear. 150 and by september i will put in 1000usd.
Now enough of all these ecclesiastical mumbo jumbo and lets get down to the basis. IF you are really interested in starting a forex trading business, then you can totally depend on these info worth thousands of dollars but i will give you free of charge. Follow these steps to get started. Get a desktop or laptop computer with good speed and processor with internet connection. Use a good dial up for a start. Note that you can use any platform later when ready for real trading and you can continue with interbank.