The Forex market is 'alive' 24 x 7. This means that it runs five days a week, and is 'open' 24 hours every day. It is in fact considered as the world's largest market where the currencies are either sold or bought, which is also one of the reasons why a lot of individuals want to know how to trade Forex.
What other facts should newbie traders know about the Forex trading market?
Fact # 1: There are no 'Forex headquarters'.
In a Forex trading tutorial, this fact will usually be mentioned. True, there are major centers where trading may be held, but there is no specific headquarters for trading in Forex. Instead, the trades are done over the counter where people can choose to make trades over the World Wide Web, or by telephone.
Fact #2: There are four major currency pairs that play important roles in the Forex market.
The Euro Dollar and US Dollar (EUR/USD), the US Dollar and Japanese Yen (USD/JPY), the British Pound and US Dollar (GBP/USD), and the US Dollar and Canadian Dollar (USD/CAD) are the major currency pairs of the Forex trading market. Most people who learned how to trade Forex therefore choose to invest in the above mentioned currency pairs as they feel that those will give them higher earnings.
Fact #3: Forex trading tutorial reiterates that currency trading is not meant only for large players.
The wealthy are not the only ones who can 'play' in Forex. Even small players can try their hand at Forex investing. Wealthy traders, or the big players, can profit from up to millions of dollars, while the small players get the chance to take home thousands of dollars.
Nowadays, there are even brokers that will allow you to set up a Forex account online for less than $300. This is actually proof that even average earners or small players can learn how to trade Forex, then, participate in the trading event in the hope of doubling their money.
Here are the tools you need to get started in the Forex trading market: a Forex trading tutorial, the willingness to take risks, a certain amount of money, the research skills, and the logical skills, among others. It is normal to experience some losses; you should not lose faith, however, that you'll eventually figure out how you can get a good amount of money from trading in Forex.
Author: Karen Winton
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