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15 People You Oughta Know in the How to trade forex Industry

  • To get a hang of what forex trading is all about, you need to go to a forex trading school for learning the basics. Unless you are acquainted with the ins and outs of forex trading, it would Forex trading south africa be difficult to make any headway in the rough and tumble of the currency markets. Even for experienced traders, schooling has become a necessary step after they begin trading online. There is more to it than meets the eye.

    One center is usually open

    Forex trading times vary from one zone to the other even though it is always said that currency markets are open round the clock. You can trade in any hours of the day and it doesn't matter where you are located.

    The usual time for trading is 24 hours a day beginning Sunday afternoon EST till Friday afternoon through the next week. But the greatest advantage is that throughout the five day week, you can get at least one financial center open for business or trading on forex.

    You may be trading at a different exchange that does close during the night, but you can automatically find another that is open in some other part of the world. As trading hours for forex trading frequently overlap, you are never left wondering if a market is open or not. You can always find at least some market open at some time or the other during the day or night.

    High trading activity

    And this is what makes online currency trading so popular among people the world over. It virtually never seems to stop at all. Although there are unlimited hours for currency trading, there are some specific hours during the sessions when trading activity is at its peak.

    You learn all of this at a forex trading school as making money during hours of high activity is what makes traders check their luck out.

    These hours of enhanced activity are a favorite with day traders and they love to make money on the go. You can expect larger volumes of trade and greater pip movements which can also raise your chances of making profits quickly and surely. Knowing about when to enter and exit a trade is also be a big boon at forex as you learn them at a forex trading school.

    Forex trading is a very exciting activity that requires an individual to have a mix of discipline and analysis. With the right knowledge and ability to read charts or financial reports, there are plenty of opportunities to make a profit on buying and selling currency pairs. Let's take a look at a few reasons why the Forex market is so popular:

    Eliminates the middleman

    Most individuals using the Forex market have the option to trade directly without the needed to rely on a middleman to broker the transactions. All pricing for the currency pairs is determined by the market responsible which significantly helps to speed up the trading activity.

    No commissions

    Forex trading does not rely on brokerage fees, exchange fees or cleaning fees. Most of the brokers involved in the Forex market earn a commission thought the bid/ask spread amount. Under normal trading conditions, the bid/ask spread amount is often less than 0.1%. However, for the high volume traders, this can be lowered to a rate of about 0.07%.

    24-hour market

    The Forex market is open and available to trade at any time of the day or night. This is certain to appeal to the part-time traders that have limited free time. Whether is it morning, midday, or nighttime, it is possible to place a trade with other active traders elsewhere in the world.

    Low entry barriers

    Traders in the Forex market have the option to get started with a very small trading account which can be as small as $20/25. This is completely different to the futures, options, or stock markets, which require a substantial trading account to get started.

    A basic micro or mini account is a practical option for the first time trader. While it is more beneficial to have a start-up capital that is more than the bare minimum, the low entry barrier is certain to be appreciated by the average individual that only has a small amount to invest.

    Wide open market

    The Forex market is at such as size and with so many active traders that it is impossible for a single entity to have a major impact or influence on the market prices for a long period of time.

    Access to free resources

    The majority of the brokers involved in Forex trading offers a variety of free resources to help learn the basics. This can include opening a demo account to build your skills by actually placing the practice trades. Also, there are plenty of charting services and real-time news feeds to stay in touch with the latest information.

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