FOREX OR Foreign EXchange Currency Trading is by far the largest financial Market in the world. To break it down in simple terms FOREX is one currency traded for another. On a daily basis average Currency trades are estimated at 3 trillion U.S. Dollars. Market Makers like me and you only take up 2%, a minute fraction of the entire Forex Market. The majority of the market trading is done by large Banks, like the Deutsche Bank who currently takes up 19% of the market and Bank of America. Also large companies like Citi and JP Morgan together take up 12% of the market. Don’t let this discourage you because us retailers all together trade about 25-50 BILLION U.S. dollars daily!!! Wouldn’t you like a piece of that PIE? I know I would!! On the contrary you don’t need to be a large Hedge fund to trade. There are stories about people who began trading with a couple of dollars and now our pulling in $500 to $1,500 on a daily basis consistently, right in front of the computer. All forex has to do is with exchange rates.
Exchange rates are affected by many factors but it really comes down to supply and demand. Supply and demand is constantly changing therefore the price of one currency compared to another is also constantly changing. The value of any currency is not determined by one factor but several which usually have to do with political conditions, market psychology and of course the economy. Don’t you wonder why The US DOLLAR takes up 88% of the Forex market transactions? Would you believe that other than London and Tokyo, Singapore yes SINGAPORE, is one of the largest trading centers for FOREX in the whole entire world? Everyday FOREX Traders are trading the US dollar, the Euro, the Yen, the Sterling, the Swizz Franc etc. and making massive amounts of profits. From 2001 to today this market has BOOMED. If you don’t believe me look it up. The world is logged on and trading. The question is are you??? There is a lot to learn about forex like spot transactions, forex swaps, trading instruments etc etc. Not enough space here for me to teach you every detail you need to know to trade successfully. On the other hand there is information on forex all over the internet that’s how I learned. If you take it seriously and put your mind to it, FOREX will change your life trust me I KNOW.