Welcome to a Virtual Learning Environment for Foreign Exchange Currency Trading
What is the Purpose of thie site?
Working together, we will embark on an exciting educational journey from the basics of FOREX, through to developing a trading plan, setting up a 'Demo' account, practicing what we have learnt in real time, and when your ready, trading 'for real' on the Worlds largest market!... You are just a few clicks away from learning about the most talked about career for the 21st Centuary, all for FREE!
What is FOREX?
FOREX = Foreign Exchange. When an individual trades currencies (ie. buys one currency and sells another) it is called currency exchange trading, simply known as FOREX. The value of currencies fluctuate on a millisecond basis, providing traders with limitless possibilities for price speculation and profiteering and/or lossses!
Why trade FOREX?
*FOREX is the worlds largest market
(Each day, there is greater than $3.2 Trillion traded)
* Possible to make profits if the market is moving up or down
* FOREX markets open 24 hours a day
* FOREX markets trend extremely well
* Leverage: possible to leverage 1:100
(ie. for every $1 you trade, you can control $100
* Liquidity: Always possible to open or close a position
* Possible to work only a few hours a week
* Trade from anywhere in the World
* Ability to 'pracitice' trading with a Demo account
For an introduction to FOREX watch the clip below...
(Each day, there is greater than $3.2 Trillion traded)
* Possible to make profits if the market is moving up or down
* FOREX markets open 24 hours a day
* FOREX markets trend extremely well
* Leverage: possible to leverage 1:100
(ie. for every $1 you trade, you can control $100
* Liquidity: Always possible to open or close a position
* Possible to work only a few hours a week
* Trade from anywhere in the World
* Ability to 'pracitice' trading with a Demo account
For an introduction to FOREX watch the clip below...
What Currency pairs should I trade?
Currency Pairs? Each economy has its own currency and when currency pairs are traded we are essentially comparing the strength of one economy to another. For example, in trading the AUD/GBP, we are comparing the Australian Dollar (the strength of the Australian economy) with the Great Britan Pound (the strength of the British economy). There are numerous currency pairs to trade but the beggining trader should focus on the EUR/USD as it has the greatest liquidity and trends extremely well.
Can I Start Trading Now?
In order to begin trading you are welcome to throw your money blindly at the market, hoping for the best.... but, I recommend that you first learn the basics of trading, develop a trading strategy and practice using this strategy. Follow me on a short series of 7 steps that will have you trading with more knowledge and confidence in no time!....................................... Step 1: The Basics
