Monday, January 7, 2013

How can I start trading Forex?

How can I start trading Forex?








  • You'll need to register a trading account with a Forex broker, such as Marketiva. Then you can begin using their Forex client program to buy and sell currencies. This will take less than 5 minutes of your time!

  • Who owns Forex and where is it located?







  • It's not owned by anyone in particular. Forex is an Interbank market, meaning that it's transactions are conducted only between two participants - seller and the buyer. So as long as existing banking system will exist, Forex will be here. It's not connected to any specific country or government organization.

  • What the working hours of Forex market?







  • Forex market is open from 22:00 GMT Sunday (opening of Australia trading session) till 22:00 GMT Friday (closing of USA trading session)..

  • What are the "long" and "short" positions?







  • Long position is a "buy" position, meaning that this position will be in profit if price goes up.
  • Short position is a "sell" position, meaning that this position will be in profit if price goes down.

  • What is the best Forex trading strategy?







  • There is none. You should constantly develop your own strategies for every possible market situation, if you want to be in profit. Specific strategies can only be good for a certain period of time and for certain currency pairs.

  • How much money I need to start trading Forex?







  • With Marketiva you can start trading Forex with as little as $1. Usually, the minimum amount varies from $100 to $10,000 ($100,000 and more for Interbank trading).

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